Northwest Pipe reports Q1 EPS 39c, consensus 53c

Reports Q1 revenue $116.1M, consensus $111.92M. “In Q1 2025, we encountered a mix of external challenges ranging from weather disruptions across multiple facilities to the uncertainty brought on by new trade policies from the incoming administration,” said CEO Scott Montross. “The month of March particularly was more affected than anticipated by issues arising from the new policies. Despite these headwinds, both of our business segments delivered fairly respectable results. As anticipated, Q1 SPP bidding was lighter, which temporarily reduced our backlog including confirmed orders to $289M…Our SPP segment generated $78.4 million in revenue at a 15.5% margin-respectable performance given the environment-and we anticipate similar revenues with improving margins in Q2. For the second half of 2025, we expect continued growth in both revenue and margin, setting the stage for another strong year for SPP… We expect our Q2 precast revenue and margins to come in stronger than the Q2 2024 and a second half of 2025 with revenue similar to 2024 but with improving margins. We are looking ahead to a strong second quarter and the launch of our new Company name-NWPX Infrastructure, Inc. This rebranding reflects our strategic evolution and aligns with the infrastructure-focused solutions we deliver across North America.”