Perma-Pipe shares surge 13.29% premarket after securing $52M in Q3 awards for U.S. data centers and Saudi Aramco projects.

Perma-Pipe International Holdings (NASDAQ: PPIH) surged 13.29% in premarket trading following the announcement of securing $52 million in project awards during Q3 2025, including $30 million previously disclosed in September. The new awards, comprising U.S. data center infrastructure projects and Saudi Aramco-related work from its newly approved Dammam facility, highlight growing demand in mission-critical infrastructure sectors. Executives emphasized the strategic importance of Saudi Arabia’s market and the enhanced regional manufacturing capabilities at Dammam, enabling faster deployment of solutions for energy and utilities. The CEO noted disciplined execution and momentum across North America and the Middle East, reinforcing the company’s ability to meet rising demand with localized expertise. The stock’s sharp rise reflects optimism over expanded contracts, operational scalability, and alignment with regional development goals.