Edward Jackson

Julio Romero

Brent Thielman

David Wright

Jean Paul Ramirez

- NWPX reported **record-setting results** for Q3 2025, with consolidated net sales reaching **$151.1 million**, a **16%** increase year-over-year, and EPS growing **35%** to **$1.38** per share.  **[0001001385_2216471_1]** **[0001001385_2216471_4]** 
- The Water Transmission Systems (WTS) segment achieved record net sales of **$103.9 million**, a **20.9%** increase year-over-year, driven by strong customer demand and disciplined pricing strategies.  **[0001001385_2216471_1]** **[0001001385_2216471_4]** 
- The company generated over **$21 million** in operating cash flow during the quarter.  **[0001001385_2216471_1]** 
- WTS backlog stood at **$301 million** at quarter-end, with expectations to remain above **$300 million** through year-end due to anticipated strong bidding activity in Q4 2025, setting up a strong entry into 2026.  **[0001001385_2216471_1]** **[0001001385_2216471_7]** **[0001001385_2216471_13]** 
- Management anticipates that IIJA funding will lead to a more stable, extended market for Water Transmission Systems rather than a sharp spike, which is considered better for long-term business stability and improved performance.  **[0001001385_2216471_10]**

NWPX Reports Record Q3 2025 Financial Results

- NWPX Infrastructure, Inc. reported **record net sales of $151.1 million**, an increase of **16.0%** year-over-year, and **record gross profit of $32.2 million**, up **19.0%** year-over-year, for the third quarter ended September 30, 2025.  **[1001385_0001437749-25-032195_ex_854786.htm:0]** **[1001385_0001437749-25-032195_ex_854786.htm:1]** 
- The company achieved **net income of $13.5 million**, or **$1.38 per diluted share**, for Q3 2025.  **[1001385_0001437749-25-032195_ex_854786.htm:0]** **[1001385_0001437749-25-032195_ex_854786.htm:1]** 
- The Water Transmission Systems (WTS) segment delivered **record net sales of $103.9 million**, a **20.9%** year-over-year increase, and its backlog including confirmed orders was **$301 million** as of September 30, 2025.  **[1001385_0001437749-25-032195_ex_854786.htm:0]** **[1001385_0001437749-25-032195_ex_854786.htm:1]** 
- Net cash provided by operating activities totaled **$21.0 million** in the third quarter of 2025.  **[1001385_0001437749-25-032195_ex_854786.htm:0]** **[1001385_0001437749-25-032195_ex_854786.htm:1]** 
- The company repurchased **$15.8 million** of common stock year-to-date through September 2025, representing **3.8%** of its shares outstanding.  **[1001385_0001437749-25-032195_ex_854786.htm:0]**

NWPX Infrastructure, Inc. Announces Strong Third Quarter 2025 Financial Results

- NWPX Infrastructure, Inc. reported **record net sales of $151.1 million** for the third quarter ended September 30, 2025, marking a **16.0% increase year-over-year**, and achieved **record gross profit of $32.2 million**, up **19.0% year-over-year**.  **[1001385_20251029SF10438:0]** **[1001385_20251029SF10438:1]** 
- The company's net income for Q3 2025 was **$13.5 million**, or **$1.38 per diluted share**, compared to $10.3 million, or $1.02 per diluted share, in the third quarter of 2024.  **[1001385_20251029SF10438:0]** **[1001385_20251029SF10438:1]** 
- The Water Transmission Systems (WTS) segment contributed significantly with **record net sales of $103.9 million**, a **20.9% increase year-over-year**, and its backlog including confirmed orders was **$301 million** as of September 30, 2025.  **[1001385_20251029SF10438:0]** **[1001385_20251029SF10438:1]** 
- NWPX generated **$21.0 million in operating cash flow** during the third quarter of 2025 and repurchased **$15.8 million of common stock year-to-date through September 2025**, representing 3.8% of the Company's shares outstanding.  **[1001385_20251029SF10438:0]** **[1001385_20251029SF10438:1]**

- NWPX Infrastructure, formerly Northwest Pipe Company, focuses on two main business units: **Water Transmission Systems** and **Precast** infrastructure. The Precast business, acquired in January 2020, is a key area for future growth.  **[1001385_2147526_0]** 
- The company aims to grow its Precast business to **$200 million** and the overall business to **$1 billion**, primarily through **M&A** in the fragmented Precast market. To facilitate this, NWPX is willing to increase its debt leverage from approximately **0.6x** to **2x-2.5x**, or potentially up to **3x** for a transformational acquisition.  **[1001385_2147526_1]** **[1001385_2147526_2]** 
- The **Water Transmission Systems** business anticipates a strong backlog for **2026**, driven by a significant bidding quarter in **Q4 2025**. The company expects **IIJA funding** to boost demand and potentially increase margins in this segment to **20%**.  **[1001385_2147526_3]** **[1001385_2147526_9]** 
- The **Precast business** is experiencing varied trends: the Utah-based residential segment (Geneva) grew from **$41 million in revenue in 2020 to $82 million in 2024** and remains strong, while the Texas-based ParkUSA business is recovering from interest rate impacts with improving margins. A "product spread" strategy is projected to generate **$12 million in bookings** this year.  **[1001385_2147526_5]** **[1001385_2147526_7]**

NWPX Infrastructure (NWPX)