Northwest Pipe Posts Q2 Results

Company reports weakness in second quarter, as sales rise just 0.3 percent.

Northwest Pipe Co. (Nasdaq:NWPX), Vancouver, WA, reported second-quarter sales of $28.8 million, up 0.3% compared to the second quarter of 2017, and down nearly 14% from the previous quarter. The manufacturer of engineered welded steel pipeline systems reported a loss of $5.7 million for the quarter, compared with a loss of $1.4 million in the year-ago period.

Northwest Pipe said it expects a stronger second half of the year. The company recently announced its acquisition of Ameron Water Transmission Group, which is part of a multi-year transformation to grow the business into a pure-play water company.

“…We expect this acquisition to result in significant administrative and operational cost synergies, an expansion to our product offering and an enhanced ability to meet customer needs in a market that is expected to grow over the next few years,” said Scott Montross, president and CEO.

 

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.