NWPX Infrastructure (NWPX) Q3 2026 earnings summary

Executive summary

• Record Q3 net sales of $179.4M, gross profit of $38.2M and diluted EPS of $1.86; net income rose 35% YoY to $18.2M.

• WTS growth and record backlog, alongside resilient Precast demand, supported confidence entering year-end and 2027.

• Free cash flow reached $20.4M in Q3 and $56.0M YTD; FY2026 guidance is $62M–$72M.

Financial highlights

• Consolidated net sales increased 18.7% YoY to $179.4M; operating income rose to $24.3M from $19.0M and net income to $18.2M from $13.5M.

• Gross profit rose 18.8% to $38.2M, with consolidated gross margin unchanged at 21.3%.

• Diluted EPS was $1.86 versus $1.38; nine-month sales rose 19.2% to $477.1M and net income reached $44.6M.

• SG&A was $13.9M, or 7.7% of sales versus 8.7%; interest expense fell to $0.4M from $0.8M.

Outlook and guidance

• Q4 performance expected to exceed Q4 2025 and Q1 2026 despite seasonality; elevated WTS bidding and backlog support visibility.

• FY2026 WTS base bidding, excluding NDA, is expected to exceed 2025; NDA work is expected in Q4, with some deliveries potentially moving to early 2027.

• Precast is expected to remain steady in Q4 versus Q3, with FY2026 revenue expected to set a record.

• FY2026 guidance: SG&A $55M–$56M; D&A $22M–$23M; effective tax rate 23%–24%; capex $21M–$23M; free cash flow $62M–$72M.

• Strong WTS bidding and backlog support 2027, but replacing any NDA-related revenue gap remains uncertain and depends on bidding, steel prices and other factors.