NORTHWEST PIPE CO
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
NWPX$87.31+5.4%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
NORTHWEST PIPE COMPANY
FORM 10‑Q
TABLE OF CONTENTS
| Page | |
|---|---|
| PARTI- FINANCIAL INFORMATION | |
| Item1. Financial Statements (Unaudited): | |
| Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 | 2 |
| Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and 2023 | 3 |
| Condensed Consolidated Balance Sheets as of March 31, 2024 and December31, 2023 | 4 |
| Condensed Consolidated Statements of Stockholders’ Equity for the three months ended March 31, 2024 and 2023 | 5 |
| Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 | 6 |
| Notes to Condensed Consolidated Financial Statements | 7 |
| Item2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 19 |
| Item3. Quantitative and Qualitative Disclosures About Market Risk | 25 |
| Item4. Controls and Procedures | 25 |
| PARTII- OTHER INFORMATION | |
| Item1. Legal Proceedings | 25 |
| Item1A. Risk Factors | 26 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 26 |
| Item5. Other Information | 26 |
| Item6. Exhibits | 27 |
| Signatures | 28 |
Part****I–** FINANCIAL INFORMATION**
NORTHWEST PIPE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net sales | $113,215 | $99,097 |
| Cost of sales | 93,081 | 82,520 |
| Gross profit | 20,134 | 16,577 |
| Selling, general, and administrative expense | 11,444 | 11,866 |
| Operating income | 8,690 | 4,711 |
| Other income (expense) | 7 | (29) |
| Interest expense | (1,474) | (1,369) |
| Income before income taxes | 7,223 | 3,313 |
| Income tax expense | 1,985 | 951 |
| Net income | $5,238 | $2,362 |
| Net income per share: | ||
| Basic | $0.53 | $0.24 |
| Diluted | $0.52 | $0.23 |
| Shares used in per share calculations: | ||
| Basic | 9,916 | 9,940 |
| Diluted | 10,045 | 10,087 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.