The stock may react positively to the record full-year results and strong backlog, but traders should monitor the Q4 net income decline and whether management's 2026 outlook justifies the mixed profitability trends. The small acquisition is strategically positive but not immediately accretive.
Price Chart
Executive Summary
NWPX Infrastructure reported strong full-year 2025 results with record revenue of $526.0 million (up 6.8% YoY) and record net income of $35.4 million ($3.56 per share). The company also announced the acquisition of Boughton Precast for $9.0 million, expanding its geographic footprint. While full-year metrics improved, Q4 net income declined 12% YoY to $8.9 million despite revenue growth, due to higher taxes and one-time pension costs.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue: $526.0 million (up 6.8% YoY), record high
- Full-year net income: $35.4 million ($3.56 per share), up from $34.2 million ($3.40) in 2024
- Q4 2025 revenue: $125.6 million (up 5.0% YoY), but net income fell to $8.9 million (down 12% YoY)
- Acquired Boughton Precast for $9.0 million, expanding presence in Colorado
- WTS backlog including confirmed orders: $346 million as of Dec 31, 2025
- Record safety performance with total recordable incident rate of 1.06
Financial Impact
Revenue growth of $33.5 million YoY with $1.2 million increase in net income. Acquisition adds $9.0 million in goodwill. Q4 profitability declined despite revenue growth.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Water Transmission Systems | $350.9M | +3.8% |
| Precast Infrastructure and Engineered Systems | $175.1M | +13.3% |
Risk Factors
- Q4 net income decline despite revenue growth indicates margin pressures
- One-time pension settlement costs ($1.775 million) and tax items affected comparability
- Weather-related seasonality expected in Q1 2026 for WTS segment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-005605 |
| Document: nwpx20251010_8k.htm | 0001437749-26-005605 |
| Document: 0001437749-26-005605-index-headers.html | 0001437749-26-005605 |
| Document: 0001437749-26-005605-index.html | 0001437749-26-005605 |
| Document: 0001437749-26-005605.txt | 0001437749-26-005605 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 11d ago | Press Release | $98.15 $96.29 | ▼ −1.90% | ▼ −0.88% | $97.66 (−0.50%) |
Oct 8, 2026 18d ago | SC 13G/A | $100.73 $98.15 | ▼ −2.56% | ▼ −2.28% | $97.66 (−3.05%) |
Oct 2, 2026 23d ago | Insider Cluster | $105.60 $99.22 | ▲ +6.04% | ▲ +6.46% | $97.66 (+7.52%) |
Sep 30, 2026 26d ago | Insider Cluster | $103.03 $102.96 | ▼ −0.07% | ▼ −1.98% | $97.66 (−5.21%) |
Sep 23, 2026 4w ago | Press Release | $101.34 $104.77 | ▲ +3.38% | ▲ +3.80% | $97.66 (−3.63%) |
Sep 23, 2026 4w ago | Insider Cluster | $102.62 $103.03 | ▲ +0.40% | ▲ +1.07% | $97.66 (−4.83%) |
Sep 23, 2026 4w ago | Insider Cluster | $102.62 $103.03 | ▲ +0.40% | ▲ +1.07% | $97.66 (−4.83%) |
Sep 11, 2026 6w ago | Insider Cluster | $100.52 $102.51 | ▲ +1.98% | ▲ +0.32% | $97.66 (−2.85%) |
Sep 11, 2026 6w ago | Insider Cluster | $100.52 $102.51 | ▼ −1.98% | ▼ −0.07% | $97.66 (+2.85%) |
Sep 10, 2026 6w ago | Insider Cluster | $103.63 $103.03 | ▼ −0.58% | ▼ −1.21% | $97.66 (−5.76%) |
US Market Status
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