June 5, 2020

Stock in News Spotlight: Northwest Pipe Company (NASDAQ:NWPX)

Northwest Pipe Company (NASDAQ:NWPX) stock experienced trading -38.28% off 52-week high price. On the other end, the stock has been noted 25.55% away from low price over the last 52-weeks. The stock disclosed a move of -8.13% away from 50 day moving average and -21.27% away from 200 day moving average. Moving closer, we can see that shares have been trading -5.40% off 20-day moving average. It has market cap of $224.69M.

On May 07, 2020, Northwest Pipe Company (NASDAQ:NWPX) an industry leader of engineered pipeline systems for water infrastructure, declared its financial results for the first quarter ended March 31, 2020. The Company will broadcast its first quarter 2020 earnings conference call on Friday, May 8, 2020 at 7:00 a.m. PDT.

First Quarter 2020 Results

Net sales increased 10.0% to $68.9 million in the first quarter of 2020 from $62.6 million in the first quarter of 2019 primarily due to an $8.0 million contribution from the Company’s recently acquired Geneva Pipe Company (Geneva) operations. Legacy revenues decreased slightly from the first quarter of 2019 due to a 12% decrease in tons produced, partially offset by a 10% increase in selling price per ton.

Gross profit increased 45.8% to $9.6 million, or 13.9% of net sales, in the first quarter of 2020 from $6.6 million, or 10.5% of net sales, in the first quarter of 2019 primarily due to improved product pricing in the Company’s steel pressure pipe business and the margin contribution from Geneva. Included in gross profit in the first quarter of 2020 was $0.5 million of acquisition-related charges and $0.4 million in incremental production costs resulting from the fire at the Company’s Saginaw facility in April 2019.

Net income was $0.6 million, or $0.06 per diluted share, in the first quarter of 2020 compared to $2.2 million, or $0.22 per diluted share, in the first quarter of 2019. Adjusted net income was $3.2 million, or $0.33 per diluted share, in the first quarter of 2020. Adjusted net income excluded $2.5 million of acquisition-related transaction costs, $0.6 million of acquisition-related charges, $0.4 million in incremental production costs resulting from the fire at the Company’s Saginaw facility, and the tax impact of these items of $0.9 million. There were no adjustments to consider in the first quarter of 2019. See the Company’s Reconciliation of Non-GAAP Financial Measures in the table below.

The USA based company Northwest Pipe Company moved with change of 1.80% to $22.65 with the total traded volume of 56477 shares in recent session versus to an average volume of 77.92K. The stock was observed in the 5 days activity at -6.87%. The one month performance of stock was -4.83%. NWPX’s shares are at -31.01% for the quarter and driving a -4.91% return over the course of the past year and is now at -32.00% since this point in 2018.  Right now the stock beta is 0.94. The average volatility for the week and month was at 5.11% and 4.80% respectively. There are 9.92M shares outstanding and 9.49M shares are floated in market.