• Mon. Mar 20th, 2023

Reports constructive for Northwest Pipe Organization, Barrett Enterprise Solutions


Mar 16, 2023

Northwest Pipe Company’s net sales improved 37.7 % year more than year, the Vancouver firm reported Wednesday.

Annual net sales have been $457.7 million in 2022, up from $333.three million in 2021. Gross earnings improved 94 %, compared with 2021. It brought in $85.9 million in 2022 and $44.three million in 2021.

The manufacturing firm reported its net revenue as $31.1 million in 2022, compared with $11.five million in 2021.

In his company’s earning report, Scott Montross, president and chief executive of Northwest Pipe Organization, mentioned he expects the initial quarter of 2023 to be difficult, as it was in 2022.

“Even with the record backlog, which includes confirmed orders in (engineered steel stress pipe segment), there are consumer driven delays affecting the production timing of close to-term projects, as effectively as serious climate events that have led to unscheduled downtime time at a variety of (engineered steel stress pipe segment) facilities,” Montross mentioned. “These climate events have also triggered unscheduled downtime in our precast enterprise, additional suppressing the initial quarter, which is currently the seasonally slow time of year.”

Montross mentioned enterprise levels in the engineered steel stress pipe space are anticipated to normalize, as they did in 2022. The precast enterprise, even so, may possibly be moderately impacted by the uncertainty in the residential housing marketplace close to term. It is “still anticipated to have a strong year,” he mentioned.