Northwest Pipe(NWPX)2025-04-30 20:19Financial Performance - Net sales for Q1 2025 were 113.2 million in Q1 2024[4] - Net income for Q1 2025 was 0.39 per diluted share, compared to 0.52 per diluted share in Q1 2024[5] - Gross profit for Q1 2025 was 20.1 million in Q1 2024, representing 16.7% of net sales[5] - Net income for the three months ended March 31, 2025, was 5,238,000 in the same period of 2024[21] Segment Performance - The backlog for the Engineered Steel Pressure Pipe segment was 289 million as of March 31, 2025[4] - The Precast segment generated 78.4 million, a 2.0% decrease from 64 million, up 23% year-over-year, primarily due to growth in the non-residential segment[3] - The company anticipates continued growth in revenue and margins for both segments in the second half of 2025[3] Cash Flow and Assets - Net cash provided by operating activities was 26,089,000 in the same quarter of 2024[21] - Cash and cash equivalents increased to 5,007,000, marking a rise of 5.5%[21] - The company reported a change in cash and cash equivalents of 194,000 in the same period last year, an increase of 43.4%[21] - Total current assets decreased to 262,488,000, reflecting a decline of 1.8% year-over-year[19] - The company reported a decrease in trade and other receivables, net, to 66,946,000, a decline of 10.3%[19] Liabilities and Equity - Total liabilities decreased to 215,650,000, representing a reduction of 5.5% compared to the previous year[19] - Total stockholders' equity increased to 374,003,000, reflecting a growth of 1.2% year-over-year[19] - Borrowings on line of credit increased to 24,677,000, indicating a rise of 3.5%[19] Corporate Actions - The company repurchased 3,670,000 in purchases of property and equipment, down from $4,570,000 in the previous year, a decrease of 19.7%[21]