The record WTS backlog including confirmed orders of $435M provides strong visibility into future production, and management's guidance for a stronger Q4 2026 than prior comparable periods suggests continued momentum. Monitor Q4 results for confirmation of the growth trajectory and integration progress of the Serpentix acquisition.
Price Chart
Executive Summary
NWPX Infrastructure reported record Q3 2026 results with net sales of $179.4M (+18.7% YoY) and diluted EPS of $1.86, exceeding the consensus estimate of $1.64. The Water Transmission Systems segment drove the beat with record revenue of $131.9M (+27% YoY) and a record backlog including confirmed orders of $435M. Management guided for stronger Q4 2026 performance than both Q4 2025 and Q1 2026, supported by elevated backlog.
Key Financial Metrics
Key Facts
- Record Q3 2026 net sales of $179.4M, up 18.7% YoY from $151.1M
- Record Q3 2026 gross profit of $38.2M, up 18.8% YoY from $32.2M
- Diluted EPS of $1.86 vs consensus $1.64 (beat by 13.4%)
- Net income of $18.2M, up 35.0% YoY from $13.5M
- WTS segment record revenue of $131.9M, up 27.0% YoY
- Record WTS backlog including confirmed orders of $435M
- Precast segment revenue of $47.5M, up 0.6% YoY (acquisitions contributed $2.1M)
- Completed acquisition of Serpentix Conveyor on September 2, 2026
- Operating cash flow of $27.4M in Q3 2026 vs $21.0M in Q3 2025
- Management anticipates stronger Q4 2026 than Q4 2025 and Q1 2026
Financial Impact
Revenue beat consensus by $11.6M (6.9%); EPS beat by $0.22 (13.4%); net income up 35% YoY
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Water Transmission Systems | $131.9M | +27.0% |
| Precast Infrastructure and Engineered Systems | $47.5M | +0.6% |
Risk Factors
- Precast legacy facilities saw a 9% volume decline, partially offset by acquisitions
- WTS gross margin decreased to 20.7% from 21.3% due to product mix changes
- Line of credit borrowings increased to $18.5M from $0.3M at year-end 2025
- Goodwill and intangibles increased significantly due to acquisitions, raising integration risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-033798 |
| Document: nwpx20260731_8k.htm | 0001437749-26-033798 |
| Document: 0001437749-26-033798-index-headers.html | 0001437749-26-033798 |
| Document: 0001437749-26-033798-index.html | 0001437749-26-033798 |
| Document: 0001437749-26-033798.txt | 0001437749-26-033798 |
| 8-K Data (Synthetic) | 0001437749-26-033798 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 today | SC 13G | $96.84 | awaiting T+5 | awaiting T+5 | $97.81 (+1.00%) |
Oct 28, 2026 2d ago | 8-K | $98.00 | awaiting T+5 | awaiting T+5 | $97.81 (−0.19%) |
Oct 14, 2026 16d ago | Press Release | $98.15 $96.29 | ▼ −1.90% | ▼ −0.88% | $97.81 (−0.35%) |
Oct 8, 2026 22d ago | SC 13G/A | $100.73 $98.15 | ▼ −2.56% | ▼ −2.28% | $97.81 (−2.90%) |
Oct 2, 2026 28d ago | Insider Cluster | $105.60 $99.22 | ▲ +6.04% | ▲ +6.46% | $97.81 (+7.38%) |
Sep 30, 2026 4w ago | Insider Cluster | $103.03 $102.96 | ▼ −0.07% | ▼ −1.98% | $97.81 (−5.07%) |
Sep 23, 2026 5w ago | Press Release | $101.34 $104.77 | ▲ +3.38% | ▲ +3.80% | $97.81 (−3.48%) |
Sep 23, 2026 5w ago | Insider Cluster | $102.62 $103.03 | ▲ +0.40% | ▲ +1.07% | $97.81 (−4.69%) |
Sep 23, 2026 5w ago | Insider Cluster | $102.62 $103.03 | ▲ +0.40% | ▲ +1.07% | $97.81 (−4.69%) |
Sep 11, 2026 7w ago | Insider Cluster | $100.52 $102.51 | ▲ +1.98% | ▲ +0.32% | $97.81 (−2.70%) |
US Market Status
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