What guidance did NWPX's management provide for the next earnings period?

What were the key takeaways from NWPX’s earnings call?

What does NWPX do and what are its main business segments?

What is NWPX's latest dividend and current dividend yield?

What factors drove the changes in NWPX's revenue and profit?

What is the revenue and EPS growth rate for NWPX year over year?

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What is NWPX's gross profit margin?

- **WTS Margin Sustainability**: Q3 2025 WTS margin expansion (+190bps YoY) faces risk of normalization in 2026 as Texas Proposition 4 funding materializes. 
- **Texas Dependency Risk**: 60%+ of WTS revenue tied to Texas, with $3.3M in product spread orders booked Q3. 
- **Precast Execution Risk**: Geneva plant margin recovery ($10M Precast gross profit vs. $10.4M 2024) dependent on nonresidential demand and Exact 2500 shutdown. 
- **Leverage Management**: $27.6M debt vs. $96M available credit, with $19-22M 2025 capex targeting product spread expansion. 


**【CEO Summary Section】**
- **Record Q3 Performance**: Revenue reached $151.1M (+16% YoY), driven by WTS segment growth (+20.9% YoY) and improved gross margin (21.3% vs. 20.8% Q2). 
- **Backlog Sustainability**: WTS backlog remains above $300M, with $3.3M in product spread orders booked Q3. Risks include potential over-optimism in Texas Proposition 4 funding ($20B over 20 years). 
- **Segment Mix Risks**: WTS margin expansion (+190bps YoY) contrasts with Precast margin contraction (-2.1pts YoY), driven by residential vs. nonresidential demand shifts. 

**【CFO Financial Commentary】**
- **Cash Flow Strength**: Free cash flow $13.2M (vs. $16.7M Q3 2024), with $32-37M full year target. 
- **Expense Management**: SG&A up 13.2% YoY ($13.1M) due to compensation, but as % of sales improved to 8.7%. 
- **Liquidity**: $96M available on credit facility, with $27.6M debt. 

**【Q&A Highlights】**
- **WTS Margin Risks**: Q4 WTS bids ($200M+ value) could drive 2026 execution risk. Management warns Q3 2025 results may not represent new baseline. 
- **Texas Proposition 4 Impact**: Potential $2.5B/year funding for WTS projects, but execution dependent on ballot passage. 
- **Precast Volatility**: Geneva plant margin pressure from Exact 2500 depreciation ($7M Q3 capex) and residential demand headwinds. 


NWPX Infrastructure, Inc. (NWPX) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

NWPX

NWPX fundamentals

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