Northwest Pipe Company (NASDAQ:NWPX) Q2 2022 Earnings Conference Call August 8, 2022 5:00 PM ET

Company Participants

Scott Montross - President & Chief Executive Officer

Aaron Wilkins - Chief Financial Officer

Conference Call Participants

David Wright - Henry Investment Trust

Jean Ramirez - D.A. Davidson

Operator

Thank you for standing by. This is the conference operator. Welcome to the Northwest Pipe Company Second Quarter 2022 Earnings Call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Scott Montross, President and CEO of the Northwest Pipe Company. Please go ahead, sir.

Scott Montross

Good afternoon, and welcome to Northwest Pipe Company's second quarter 2022 earnings conference call. My name is Scott Montross, and I am President and CEO of the company. I'm joined today by Aaron Wilkins, our Chief Financial Officer.

By now, all of you should have access to our earnings press release which was issued today, August 8, 2022, at approximately 4 p.m. Eastern Time. This call is being webcast, and it is available for replay.

As we begin, I'd like to remind everyone that the statements made on this call regarding our expectations for the future are forward-looking statements, and actual results could differ materially. Please refer to our most recent Form 10-K for the year ended December 31, 2021, and in our other SEC filings for a discussion of such risk factors that could cause actual results to differ materially from our expectations. We undertake no obligation to update any forward-looking statements.

Thank you all for joining us today. I'll begin with a review of our second quarter performance. Aaron will then walk you through our financials in greater detail.

Consolidated net sales were $118.5 million, which included $24.2 million contribution for our newest acquisition ParkUSA. Revenue from our Steel Pressure Pipe segment increased 31.2% year-over-year to $77.1 million. The increase was primarily due to higher project pricing, driven by strong bidding in early 2022, as well as higher steel prices. These factors were partially offset by lower production volumes, primary related to product mix, as well as incoming steel quality issues that held up production and shipment of orders that were already in backlog. That said, our production volume is expected to steadily improve throughout the second half of 2022.