Perma-Pipe shares surge 12.54% after-hours after securing $52M in Q3 project awards, including Saudi Aramco and U.S. data center contracts.

Perma-Pipe International Holdings (NASDAQ: PPIH) surged 12.54% in after-hours trading following the announcement of securing $52 million in third-quarter 2025 project awards, including $30 million previously disclosed and $22 million in new contracts for U.S. data center infrastructure and Saudi Aramco-related projects. The awards, executed from the company’s newly approved Dammam, Saudi Arabia facility, highlight growing demand for mission-critical infrastructure solutions and reinforce Perma-Pipe’s strategic expansion in North America and the Middle East. Executives emphasized the role of the expanded Dammam facility in accelerating deployment capabilities and the company’s ability to meet rising demand with localized engineering and manufacturing expertise. The news aligns with the stock’s sharp post-earnings rally, reflecting investor optimism over contract momentum and operational scalability.