NASDAQ$NWPX
Northwest Pipe Company · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2023 financial results.
Northwest Pipe Company reported a 3.1% increase in net sales to $110.2 million for the fourth quarter of 2023, compared to $106.8 million in the fourth quarter of 2022. Net income was $5.4 million, or $0.54 per diluted share, compared to $8.0 million, or $0.79 per diluted share, in the fourth quarter of 2022.
- Net sales increased 3.1% to $110.2 million.
- Gross profit decreased 11.8% to $19.3 million.
- Net income was $5.4 million, or $0.54 per diluted share.
- SPP backlog was $273 million as of December 31, 2023.
Headline financials
Revenue & EPS history
Northwest Pipe · Revenue · Quarterly
$110M
Revenue by segment
Northwest Pipe · $38.2M total across 1 segment · Q3 2023
- Precast Infrastructure$38.2M-2.8%100.0%
Forward guidance
First quarter SPP net sales are expected to decline compared to the fourth quarter of 2023, but expected to remain well above first quarter 2023 levels. Year-over-year SPP margins in the first quarter are expected to improve moderately compared to 2023. Precast net sales in the first quarter are expected to be similar to the same quarter last year with near-term margins remaining compressed.
Tailwinds
- Anticipate a significantly stronger bidding year in 2024 for SPP.
- Expect year-over-year SPP margins in the first quarter to improve moderately compared to 2023.
- Growth strategy remains focused on growing our Precast business to reduce the cyclicality of our SPP operations
- Growth strategy remains focused on improving our overall margins
- Growth strategy remains focused on improving cash flow generation
Headwinds
- First quarter SPP net sales are expected to decline compared to the fourth quarter of 2023 due to typical seasonality and severe weather conditions.
- Precast margins were compressed due to reduced overhead absorption on lower demand.
- Early 2024 weather events have also caused unscheduled downtime in our Precast facilities, further suppressing the already seasonally slow first quarter.
- Near-term Precast margins remaining compressed.
- The SPP business had one of the smallest bidding volume periods we have seen in many years
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.7%
Avg return
Earnings day
+3.3%
Avg return
5 days after
+5.4%
Avg return
30 days after
48%
31 / 64 earnings
Positive
+15.4%
Q3 2021
Best reaction
-19.5%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +14.3% | +29.5% | +37.1% | |
| Q4 2025 | +10.2% | +9.4% | +3.4% | |
| Q3 2025 | +1.6% | +14.4% | +5.3% | |
| Q1 2025 | -6.2% | -11.0% | -8.8% | |
| Q4 2024 | -10.7% | -13.9% | -13.5% | |
| Q3 2024 | -0.7% | +4.5% | +24.0% | |
| Q2 2024 | +1.6% | +4.4% | +17.7% | |
| Q1 2024 | +2.0% | +5.6% | +12.1% | |
| Q4 2023 | -0.8% | +13.6% | +16.6% | |
| Q3 2023 | +1.2% | -7.0% | -2.6% | |
| Q2 2023 | -2.0% | +0.1% | +2.1% | |
| Q1 2023 | -3.3% | -4.5% | +1.4% | |
| Q4 2022 | -19.5% | -18.1% | -24.5% | |
| Q3 2022 | -5.2% | -2.2% | +4.7% | |
| Q2 2022 | +7.9% | +11.2% | +13.3% | |
| Q1 2022 | +1.7% | +7.5% | +27.1% | |
| Q4 2021 | +1.0% | -3.1% | -7.1% | |
| Q3 2021 | +15.4% | +19.7% | +19.9% | |
| Q2 2021 | -1.1% | -4.5% | -8.7% | |
| Q1 2021 | -1.8% | -2.6% | -5.1% | |
| Q4 2020 | -5.7% | -3.4% | -4.1% | |
| Q3 2020 | -3.0% | -4.8% | +4.1% | |
| Q2 2020 | +6.5% | +10.9% | +8.2% | |
| Q1 2020 | +1.2% | -6.3% | +20.6% | |
| Q4 2019 | -2.6% | -8.5% | -34.7% | |
| Q3 2019 | +3.0% | +9.6% | +16.0% | |
| Q2 2019 | +2.2% | +11.5% | +13.4% | |
| Q1 2019 | +4.2% | +9.7% | +2.6% | |
| Q4 2018 | +0.7% | +1.8% | +6.4% | |
| Q3 2018 | +14.1% | +26.4% | +13.7% | |
| Q2 2018 | +1.0% | +0.1% | -6.2% | |
| Q1 2018 | -3.3% | +1.2% | +8.8% | |
| Q4 2017 | +2.0% | +5.8% | -4.4% | |
| Q3 2017 | -1.8% | -1.9% | +0.4% | |
| Q2 2017 | +3.1% | +7.0% | +21.5% | |
| Q1 2017 | +2.9% | +6.2% | +5.4% | |
| Q4 2016 | +4.5% | -1.6% | -17.6% | |
| Q3 2016 | +6.4% | +4.6% | +38.4% | |
| Q2 2016 | +7.0% | +8.2% | +3.9% | |
| Q1 2016 | -6.0% | — | — | |
| Q4 2015 | -15.4% | — | — | |
| Q3 2015 | +8.5% | — | — | |
| Q2 2015 | +7.6% | — | — | |
| Q1 2015 | -5.1% | — | — | |
| Q4 2014 | -4.5% | — | — | |
| Q3 2014 | -5.0% | — | — | |
| Q2 2014 | -0.7% | — | — | |
| Q1 2014 | -1.6% | — | — | |
| Q4 2013 | -3.8% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | -5.5% | — | — | |
| Q1 2013 | -1.3% | — | — | |
| Q4 2012 | +11.9% | — | — | |
| Q3 2012 | -5.6% | — | — | |
| Q2 2012 | +5.8% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q4 2009 | -1.0% | — | — | |
| Q3 2011 | -1.0% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q1 2012 | -1.0% | — | — | |
| Q2 2010 | +7.4% | — | — | |
| Q2 2011 | +7.4% | — | — | |
| Q4 2010 | +7.4% | — | — |
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