Vancouver-based Northwest Pipe Co.’s quarterly net income is down more than 40 percent since this time last year, according to the manufacturer’s third-quarter financial statement released Thursday.
The company saw $5.8 million in net income, 58 cents per diluted share, in its third quarter, compared with $10 million in the third quarter of 2022.
Net sales, meanwhile, came in at $118.7 million, down from $123 million in the third quarter last year. The company had a record year in 2022.
Northwest Pipe executives also announced Thursday that the company authorized up to $30 million in share repurchasing.
