Northwest Pipe (NWPX) 10-Q 3 Nov 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 25, 2023
Document Information [Line Items]
Entity Central Index Key	0001001385
Entity Registrant Name	Northwest Pipe Co.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	0-27140
Entity Incorporation, State or Country Code	OR
Entity Tax Identification Number	93-0557988
Entity Address, Address Line One	201 NE Park Plaza Drive, Suite 100
Entity Address, City or Town	Vancouver
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98684
City Area Code	360
Local Phone Number	397‑6250
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NWPX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,014,196

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 118,722	$ 122,984	$ 334,191	$ 350,837
Cost of sales	99,428	97,866	275,839	286,853
Gross profit	19,294	25,118	58,352	63,984
Selling, general, and administrative expense	10,237	10,654	33,119	30,149
Operating income	9,057	14,464	25,233	33,835
Other income (expense)	(61)	11	(224)	56
Interest expense	(1,162)	(964)	(3,722)	(2,393)
Income before income taxes	7,834	13,511	21,287	31,498
Income tax expense	2,016	3,555	5,659	8,310
Net income	$ 5,818	$ 9,956	$ 15,628	$ 23,188
us-gaap_EarningsPerShareAbstract
Basic (in dollars per share)	$ 0.58	$ 1	$ 1.57	$ 2.34
Diluted (in dollars per share)	$ 0.58	$ 0.99	$ 1.55	$ 2.32
Shares used in per share calculations:
Basic (in shares)	10,014	9,927	9,985	9,909
Diluted (in shares)	10,107	10,010	10,088	9,988

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income	$ 5,818	$ 9,956	$ 15,628	$ 23,188
Other comprehensive income (loss), net of tax:
Net current period other comprehensive income (loss)	(27)	608	(162)	482
Comprehensive income	5,791	10,564	15,466	23,670
Foreign Exchange Forward [Member]
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on derivatives designated as cash flow hedges	3	158	(98)	(245)
Interest Rate Swap [Member]
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on derivatives designated as cash flow hedges	(59)	428	(152)	661
Pension Plan [Member]
Other comprehensive income (loss), net of tax:
Pension liability adjustment	$ 29	$ 22	$ 88	$ 66

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 4,058	$ 3,681
Trade and other receivables, less allowance for doubtful accounts of $284 and $369	66,997	71,563
Contract assets	105,420	121,778
Inventories	83,093	71,029
Prepaid expenses and other	6,638	10,689
Total current assets	266,206	278,740
Property and equipment, less accumulated depreciation and amortization of $124,175 and $117,856	139,812	133,166
Operating lease right-of-use assets	89,605	93,124
Goodwill	55,504	55,504
Intangible assets, net	32,117	35,264
Other assets	5,844	5,542
Total assets	589,088	601,340
Current liabilities:
Current debt	10,756	10,756
Accounts payable	31,156	26,968
Accrued liabilities	23,786	30,957
Contract liabilities	17,264	17,456
Current portion of operating lease liabilities	4,899	4,702
Total current liabilities	87,861	90,839
Borrowings on line of credit	58,076	83,696
Operating lease liabilities	86,529	89,472
Deferred income taxes	11,639	11,402
Other long-term liabilities	9,845	7,657
Total liabilities	253,950	283,066
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued or outstanding	0	0
Common stock, $.01 par value, 15,000,000 shares authorized, 10,014,196 and 9,927,360 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	100	99
Additional paid-in-capital	129,308	127,911
Retained earnings	206,681	191,053
Accumulated other comprehensive loss	(951)	(789)
Total stockholders’ equity	335,138	318,274
Total liabilities and stockholders’ equity	$ 589,088	$ 601,340

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 284	$ 369
Accumulated depreciation and amortization	$ 124,175	$ 117,856
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	15,000,000	15,000,000
Common stock, shares issued (in shares)	10,014,196	9,927,360
Common stock, shares outstanding (in shares)	10,014,196	9,927,360

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Pension Plan [Member] Common Stock [Member]	Pension Plan [Member] Additional Paid-in Capital [Member]	Pension Plan [Member] Retained Earnings [Member]	Pension Plan [Member] AOCI Attributable to Parent [Member]	Pension Plan [Member]	Foreign Exchange Forward [Member] Common Stock [Member]	Foreign Exchange Forward [Member] Additional Paid-in Capital [Member]	Foreign Exchange Forward [Member] Retained Earnings [Member]	Foreign Exchange Forward [Member] AOCI Attributable to Parent [Member]	Foreign Exchange Forward [Member]	Interest Rate Swap [Member] Common Stock [Member]	Interest Rate Swap [Member] Additional Paid-in Capital [Member]	Interest Rate Swap [Member] Retained Earnings [Member]	Interest Rate Swap [Member] AOCI Attributable to Parent [Member]	Interest Rate Swap [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2021																9,870,567
Balances at Dec. 31, 2021																$ 99	$ 125,062	$ 159,904	$ (1,682)	$ 283,383
Net income																0	0	23,188	0	23,188
Pension liability adjustment	$ 0	$ 0	$ 0	$ 66	$ 66
Unrealized gain (loss) on derivatives designated as cash flow hedges						$ 0	$ 0	$ 0	$ (245)	$ (245)	$ 0	$ 0	$ 0	$ 661	$ 661
Share-based compensation expense																$ 0	2,477	0	0	2,477
Issuance of common stock under stock compensation plans, net of tax withholdings (in shares)																56,793
Issuance of common stock under stock compensation plans, net of tax withholdings																$ 0	(853)	0	0	(853)
Balances (in shares) at Sep. 30, 2022																9,927,360
Balances at Sep. 30, 2022																$ 99	126,686	183,092	(1,200)	308,677
Balances (in shares) at Jun. 30, 2022																9,927,360
Balances at Jun. 30, 2022																$ 99	125,517	173,136	(1,808)	296,944
Net income																0	0	9,956	0	9,956
Pension liability adjustment	0	0	0	22	22
Unrealized gain (loss) on derivatives designated as cash flow hedges						0	0	0	158	158	0	0	0	428	428
Share-based compensation expense																$ 0	1,169	0	0	1,169
Balances (in shares) at Sep. 30, 2022																9,927,360
Balances at Sep. 30, 2022																$ 99	126,686	183,092	(1,200)	308,677
Balances (in shares) at Dec. 31, 2022																9,927,360
Balances at Dec. 31, 2022																$ 99	127,911	191,053	(789)	318,274
Net income																0	0	15,628	0	15,628
Pension liability adjustment	0	0	0	88	88
Unrealized gain (loss) on derivatives designated as cash flow hedges						0	0	0	(98)	(98)	0	0	0	(152)	(152)
Share-based compensation expense																$ 0	3,050	0	0	3,050
Issuance of common stock under stock compensation plans, net of tax withholdings (in shares)																86,836
Issuance of common stock under stock compensation plans, net of tax withholdings																$ 1	(1,653)	0	0	(1,652)
Balances (in shares) at Sep. 30, 2023																10,014,196
Balances at Sep. 30, 2023																$ 100	129,308	206,681	(951)	335,138
Balances (in shares) at Jun. 30, 2023																10,014,196
Balances at Jun. 30, 2023																$ 100	128,562	200,863	(924)	328,601
Net income																0	0	5,818	0	5,818
Pension liability adjustment	$ 0	$ 0	$ 0	$ 29	$ 29
Unrealized gain (loss) on derivatives designated as cash flow hedges						$ 0	$ 0	$ 0	$ 3	$ 3	$ 0	$ 0	$ 0	$ (59)	$ (59)
Share-based compensation expense																$ 0	746	0	0	746
Balances (in shares) at Sep. 30, 2023																10,014,196
Balances at Sep. 30, 2023																$ 100	$ 129,308	$ 206,681	$ (951)	$ 335,138

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pension Plan [Member]
Pension liability adjustment, tax expense/benefit	$ 0	$ 0	$ 0	$ 0
Foreign Exchange Forward [Member]
Unrealized gain (loss) on cash flow hedges, tax expense/benefit	1	142	(34)	(83)
Interest Rate Swap [Member]
Unrealized gain (loss) on cash flow hedges, tax expense/benefit	$ (19)	$ 141	$ (53)	$ 218

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 15,628	$ 23,188
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and finance lease amortization	8,644	9,321
Amortization of intangible assets	3,147	3,369
Deferred income taxes	226	(3)
Share-based compensation expense	3,050	2,477
Other, net	1,298	(305)
Trade and other receivables	4,401	(21,588)
Contract assets, net	16,165	3,531
Inventories	(12,064)	(11,927)
Prepaid expenses and other assets	7,417	8,789
Accounts payable	4,974	8,350
Accrued and other liabilities	(8,477)	315
Net cash provided by operating activities	44,409	25,517
Cash flows from investing activities:
Purchases of property and equipment	(13,244)	(11,792)
Payment of working capital adjustment in acquisition of business	(2,731)	0
Other investing activities	63	(288)
Net cash used in investing activities	(15,912)	(12,080)
Cash flows from financing activities:
Borrowings on line of credit	113,047	121,103
Repayments on line of credit	(138,667)	(136,047)
Borrowings on other debt	0	3,525
Payments on finance lease obligations	(548)	(409)
Tax withholdings related to net share settlements of equity awards	(1,652)	(853)
Other financing activities	(300)	(47)
Net cash used in financing activities	(28,120)	(12,728)
Change in cash and cash equivalents	377	709
Cash and cash equivalents, beginning of period	3,681	2,997
Cash and cash equivalents, end of period	4,058	3,706
Noncash investing and financing activities:
Accrued property and equipment purchases	528	614
Accrued consideration in acquisition of business	0	1,820
Right-of-use assets obtained in exchange for operating lease liabilities	952	26
Right-of-use assets obtained in exchange for finance lease liabilities	$ 3,243	$ 894

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. Organization and Basis of Presentation Northwest Pipe Company (collectively with its subsidiaries, the “Company”) is a leading manufacturer of water-related infrastructure products, and operates in two segments, Engineered Steel Pressure Pipe (“SPP”) and Precast Infrastructure and Engineered Systems (“Precast”). This segment presentation is consistent with how the Company’s chief operating decision maker, its Chief Executive Officer, evaluates performance of the Company and makes decisions regarding the allocation of resources. See Note 13, In addition to being the largest manufacturer of engineered steel water pipeline systems in North America, the Company manufactures stormwater and wastewater technology products; high-quality precast and reinforced concrete products; pump lift stations; steel casing pipe, bar-wrapped concrete cylinder pipe, and one The Condensed Consolidated Financial Statements are expressed in United States Dollars and include the accounts of the Company and its subsidiaries over which the Company exercises control as of the financial statement date. Intercompany accounts and transactions have been eliminated. The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. The financial information as of December 31, 2022 10‑K December 31, 2022 “2022 10‑K” 2022 10‑K. Operating results for the three nine September 30, 2023 not may December 31, 2023.

Note 2 - Inventories

Note 2 - Inventories	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. Inventories Inventories consist of the following (in thousands): September 30, 2023 December 31, 2022 Raw materials $ 59,408 $ 47,978 Work-in-process 9,180 5,114 Finished goods 12,205 15,773 Supplies 2,300 2,164 Total inventories $ 83,093 $ 71,029

Note 3 - Current Debt

Note 3 - Current Debt	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Long-Term Debt [Text Block]	3. Current Debt The Interim Funding Agreement dated August 2, 2022 January 23, 2023, March 15, 2023, July 21, 2023, November 2, 2023 January 31, 2023 February 1, 2023 November 1, 2023. November 2, 2023, November 2, 2023, no 1.00 four September 30, 2023 December 31, 2022, not

Note 4 - Credit Agreement

Note 4 - Credit Agreement	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	4. Credit Agreement The Credit Agreement dated June 30, 2021 October 22, 2021, April 29, 2022, June 29, 2023 June 29, 2028. may The Amended Credit Agreement contains customary representations and warranties, as well as customary affirmative and negative covenants, events of default, and indemnification provisions in favor of the Lenders. The negative covenants include restrictions regarding the incurrence of liens and indebtedness, annual capital expenditures, certain investments, acquisitions, and dispositions, and other matters, all subject to certain exceptions. The Amended Credit Agreement requires the Company to regularly provide financial information to Wells Fargo and to maintain a consolidated senior leverage ratio no 1.00 four not September 30, 2023. The Company’s obligations under the Amended Credit Agreement are secured by a senior security interest in substantially all of the Company’s and its subsidiaries’ assets. Line of Credit (Revolving and Swingline Loans) As of September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022,

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. The authoritative guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three 1 2 3 no The following table summarizes information regarding the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): Total Level 1 Level 2 Level 3 As of September 30, 2023 Financial assets: Deferred compensation plan $ 3,605 $ 3,082 $ 523 $ - Foreign currency forward contracts 18 - 18 - Interest rate swaps 657 - 657 - Total financial assets $ 4,280 $ 3,082 $ 1,198 $ - Financial liabilities: Foreign currency forward contracts $ (1 ) $ - $ (1 ) $ - As of December 31, 2022 Financial assets: Deferred compensation plan $ 3,587 $ 3,090 $ 497 $ - Foreign currency forward contracts 728 - 728 - Interest rate swaps 862 - 862 - Total financial assets $ 5,177 $ 3,090 $ 2,087 $ - Financial liabilities: Foreign currency forward contracts $ (80 ) $ - $ (80 ) $ - The deferred compensation plan assets consist of cash and several publicly traded stock and bond mutual funds, valued using quoted market prices in active markets, classified as Level 1 2 The foreign currency forward contracts and interest rate swaps are derivatives valued using various pricing models or discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves and currency rates, and are classified as Level 2 The net carrying amounts of cash and cash equivalents, trade and other receivables, accounts payable, accrued liabilities, current debt, and borrowings on the line of credit approximate fair value due to the short-term nature of these instruments.

Note 6 - Derivative Instruments

Note 6 - Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	6. Derivative Instruments and Hedging Activities In the normal course of business, the Company is exposed to interest rate and foreign currency exchange rate fluctuations. Consistent with the Company’s strategy for financial risk management, the Company has established a program that utilizes foreign currency forward contracts and interest rate swaps to offset the risks associated with the effects of these exposures. For each derivative entered into in which the Company seeks to obtain cash flow hedge accounting treatment, the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking the hedge transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method of measuring ineffectiveness. This process includes linking all derivatives to specific firm commitments or forecasted transactions and designating the derivatives as cash flow hedges. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The effective portion of these hedged items is reflected in Unrealized gain (loss) on cash flow hedges on the Condensed Consolidated Statements of Comprehensive Income. If it is determined that a derivative is not As of September 30, 2023, CAD$9.3 EUR€1.1 CAD$7.5 EUR€1.1 not December 31, 2022, CAD$23.2 EUR€1.1 CAD$0.4 not September 30, 2023, April 2025 The Company has entered into interest rate swaps which effectively convert a portion of its variable-rate debt to fixed-rate debt, and are designated as cash flow hedges. The Company receives floating interest payments monthly based on SOFR and pays a fixed rate of 1.941% to the counterparty on the total notional amount of $11.7 million and $26.7 million as of September 30, 2023 December 31, 2022, zero April 2024 On August 9, 2022, April 3, 2023. 30 September 30, 2023, zero April 2028 The following table summarizes the gains (losses) recognized on derivatives in the Condensed Consolidated Financial Statements (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Foreign currency forward contracts: Net sales $ 77 $ 599 $ (601 ) $ 841 Property and equipment (22 ) 32 (109 ) (95 ) Interest rate swaps: Interest expense 201 4 553 (78 ) Total $ 256 $ 635 $ (157 ) $ 668 As of September 30, 2023, twelve 11,

Note 7 - Share-based Compensati

Note 7 - Share-based Compensation	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	7. Share-based Compensation The Company has one active stock incentive plan for employees and directors, the 2022 one 2007 The Company recognizes the compensation cost of employee and director services received in exchange for awards of equity instruments based on the grant date estimated fair value of the awards. The Company estimates the fair value of RSUs and PSAs using the value of the Company’s stock on the date of grant. Share-based compensation cost is recognized over the period during which the employee or director is required to provide service in exchange for the award and, as forfeitures occur, the associated compensation cost recognized to date is reversed. For awards with performance-based payout conditions, the Company recognizes compensation cost based on the probability of achieving the performance conditions, with changes in expectations recognized as an adjustment to earnings in the period of change. Any recognized compensation cost is reversed if the conditions are ultimately not The following table summarizes share-based compensation expense recorded (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of sales $ 275 $ 474 $ 816 $ 822 Selling, general, and administrative expense 471 695 2,234 1,655 Total $ 746 $ 1,169 $ 3,050 $ 2,477 Restricted Stock Units and Performance Share Awards The Company’s stock incentive plan provides for equity instruments, such as RSUs and PSAs, which grant the right to receive a specified number of shares at specified times. RSUs and PSAs are service-based awards that vest according to the terms of the grant. PSAs have performance-based payout conditions. The following table summarizes the Company’s RSU and PSA activity: Number of RSUs a nd PSAs (1) Weighted- Average Grant D ate Fair Value Unvested RSUs and PSAs as of December 31, 2022 200,924 $ 30.80 RSUs and PSAs granted 134,498 28.41 Unvested RSUs and PSAs canceled (13,589 ) 30.82 RSUs and PSAs vested (2) (95,442 ) 30.12 Unvested RSUs and PSAs as of September 30, 2023 226,391 29.66 ( 1 The number of PSAs disclosed in this table are at the target level of 100%. ( 2 For the PSAs vested on March 31, 2023, 100%, 2020 2022 2021 2022 2022 The unvested balance of RSUs and PSAs as of September 30, 2023 100%. Based on the estimated level of achievement of the performance targets associated with the PSAs as of September 30, 2023,

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. Commitments and Contingencies Portland Harbor Superfund Site In December 2000, not December 2000, February 2016, June 2016, January 2017, not no The ODEQ is separately providing oversight of voluntary investigations and source control activities by the Company involving the Company’s site, which are focused on controlling any current “uplands” releases of contaminants into the Willamette River. No not Concurrent with the activities of the EPA and the ODEQ, the Portland Harbor Natural Resources Trustee Council (“Trustees”) sent some or all of the same parties, including the Company, a notice of intent to perform a Natural Resource Damage Assessment (“NRDA”) for the Portland Harbor Superfund Site to determine the nature and extent of natural resource damages under CERCLA Section 107. three one June 2014, not In January 2017, 2009, January 2025, not The Company has insurance policies for defense costs, as well as indemnification policies it believes will provide reimbursement for the remediation assessed. However, the Company can provide no may All Sites The Company operates its facilities under numerous governmental permits and licenses relating to air emissions, stormwater runoff, and other environmental matters. The Company’s operations are also governed by many other laws and regulations, including those relating to workplace safety and worker health, principally the Occupational Safety and Health Act and regulations thereunder which, among other requirements, establish noise and dust standards. The Company believes it is in material compliance with its permits and licenses and these laws and regulations, and the Company does not Other Contingencies and Legal Proceedings From time to time, the Company is party to a variety of legal actions, including claims, suits, complaints, and investigations arising out of the ordinary course of its business. The Company maintains insurance coverage against potential claims in amounts that are believed to be adequate. To the extent that insurance does not not Commitments As of September 30, 2023, not Guarantees The Company has entered into certain letters of credit that total $1.1 million as of September 30, 2023.

Note 9 - Revenue

Note 9 - Revenue	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	9. Revenue The Company manufactures water infrastructure steel pipe products, which are generally made to custom specifications for installation contractors serving projects funded by public water agencies, as well as precast and reinforced concrete products. Generally, each of the Company’s contracts with its customers contains a single performance obligation, as the promise to transfer products is not not not SPP revenue for water infrastructure steel pipe products is recognized over time as the manufacturing process progresses because of the Company’s right to payment for work performed to date plus a reasonable profit on cancellations for unique products that have no may Revisions in contract estimates resulted in an increase (decrease) in SPP net sales of $(0.8) million for the three nine September 30, 2023 three nine September 30, 2022, Precast revenue for water infrastructure concrete pipe and precast concrete products is recognized at the time control is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the products. All variable consideration that may not Disaggregation of Revenue The following table disaggregates revenue by recognition over time or at a point in time, as the Company believes it best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Over time (Engineered Steel Pressure Pipe) $ 80,493 $ 83,663 $ 221,294 $ 235,446 Point in time (Precast Infrastructure and Engineered Systems) 38,229 39,321 112,897 115,391 Net sales $ 118,722 $ 122,984 $ 334,191 $ 350,837 Contract Assets and Liabilities Contract assets primarily represent revenue earned over time but not 30 Contract liabilities represent advance billings on contracts, typically for steel. The Company recognized revenue that was included in the contract liabilities balance at the beginning of each period of $13.5 million and $15.0 million during the three nine September 30, 2023, three nine September 30, 2022, Backlog Backlog represents the balance of remaining performance obligations under signed contracts for SPP water infrastructure steel pipe products for which revenue is recognized over time. As of September 30, 2023, 2023, 2024,

Note 10 - Income Taxes

Note 10 - Income Taxes	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. Income Taxes The Company files income tax returns in the United States Federal jurisdiction, in a limited number of foreign jurisdictions, and in many state jurisdictions. With few exceptions, the Company is no 2019. The Company recorded income tax expense at an estimated effective income tax rate of 25.7% and 26.6% for the three nine September 30, 2023, three nine September 30, 2022, three nine September 30, 2023 2022

Note 11 - Accumulated Other Com

Note 11 - Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	11. Accumulated Other Comprehensive Loss The following tables summarize changes in the components of Accumulated other comprehensive loss (in thousands). All amounts are net of income tax: Pension Liability A djustment Unrealized Gain ( Loss) on Foreign C urrency F orward C ontracts D esignated as C ash Flow H edges Unrealized Gain o n Interest Rate S waps D esignated as C ash Flow H edges Total Balances, December 31, 2022 $ (1,532 ) $ 94 $ 649 $ (789 ) Other comprehensive income (loss) before reclassifications 78 (115 ) 266 229 Amounts reclassified from Accumulated other comprehensive loss 10 17 (418 ) (391 ) Net current period other comprehensive income (loss) 88 (98 ) (152 ) (162 ) Balances, September 30, 2023 $ (1,444 ) $ (4 ) $ 497 $ (951 ) Pension Liability A djustment Unrealized Loss o n Foreign C urrency F orward C ontracts D esignated as C ash Flow H edges Unrealized Gain o n Interest Rate S waps D esignated as C ash Flow H edges Total Balances, December 31, 2021 $ (1,487 ) $ (195 ) $ - $ (1,682 ) Other comprehensive income (loss) before reclassifications 61 (383 ) 602 280 Amounts reclassified from Accumulated other comprehensive loss 5 138 59 202 Net current period other comprehensive income (loss) 66 (245 ) 661 482 Balances, September 30, 2022 $ (1,421 ) $ (440 ) $ 661 $ (1,200 ) The following table provides additional detail about Accumulated other comprehensive loss components that were reclassified to the Condensed Consolidated Statements of Operations (in thousands): Amount reclassified from Accumulated Other Comprehensive Loss Affected line item in the Condensed Three Months Ended September 30, Nine Months Ended September 30, Consolidated Statements of 2023 2022 2023 2022 Operations Pension liability adjustment: Net periodic pension cost: Service cost $ (4 ) $ (2 ) $ (10 ) $ (5 ) Cost of sales (4 ) (2 ) (10 ) (5 ) Net of tax Unrealized gain (loss) on foreign currency forward contracts: Gain (loss) on cash flow hedges 10 35 87 (56 ) Net sales Loss on cash flow hedges (22 ) - (109 ) (127 ) Property and equipment Associated income tax benefit 3 22 5 45 Income tax expense (9 ) 57 (17 ) (138 ) Net of tax Unrealized gain (loss) on interest rate swaps: Gain (loss) on cash flow hedges 201 4 553 (78 ) Interest expense Associated income tax (expense) benefit (49 ) (1 ) (135 ) 19 Income tax expense 152 3 418 (59 ) Net of tax Total reclassifications for the period $ 139 $ 58 $ 391 $ (202 )

Note 12 - Net Income Per Share

Note 12 - Net Income Per Share	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	12. Net Income per Share Basic net income per share is computed by dividing the net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by giving effect to all dilutive potential shares of common stock, including RSUs and PSAs, assumed to be outstanding during the period using the treasury stock method. Performance-based PSAs are considered dilutive when the related performance conditions have been met assuming the end of the reporting period represents the end of the performance period. In periods with a net loss, all potential shares of common stock are excluded from the computation of diluted net loss per share as the impact would be antidilutive. Net income per basic and diluted weighted-average common share outstanding was calculated as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net income $ 5,818 $ 9,956 $ 15,628 $ 23,188 Basic weighted-average common shares outstanding 10,014 9,927 9,985 9,909 Effect of potentially dilutive common shares (1) 93 83 103 79 Diluted weighted-average common shares outstanding 10,107 10,010 10,088 9,988 Net income per common share: Basic $ 0.58 $ 1.00 $ 1.57 $ 2.34 Diluted $ 0.58 $ 0.99 $ 1.55 $ 2.32 ( 1 There were no antidilutive shares for the three nine September 30, 2023 2022.

Note 13 - Segment Information

Note 13 - Segment Information	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. Segment Information The operating segments reported below are based on the nature of the products sold and the manufacturing process used by the Company and are the segments of the Company for which separate financial information is available and for which operating results are regularly evaluated by the Company’s chief operating decision maker, its Chief Executive Officer, to make decisions about resources to be allocated to the segment and assess its performance. Management evaluates segment performance based on gross profit. The Company does not The Company’s Engineered Steel Pressure Pipe segment (SPP) manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. These products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications. In addition, SPP makes products for industrial plant piping systems and certain structural applications. SPP has manufacturing facilities located in Portland, Oregon; Adelanto and Tracy, California; Parkersburg, West Virginia; Saginaw, Texas; St. Louis, Missouri; and San Luis Río Colorado, Mexico. The Company’s Precast Infrastructure and Engineered Systems segment (Precast) manufactures stormwater and wastewater technology products, high-quality precast and reinforced concrete products, including manholes, box culverts, vaults, and catch basins, pump lift stations, oil water separators, biofiltration, and other environmental and engineered solutions. Precast has manufacturing facilities located in Dallas, Houston, and San Antonio, Texas; and Orem, Salt Lake City, and St. George, Utah. The following table disaggregates revenue and gross profit based on the Company’s reportable segments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net sales: Engineered Steel Pressure Pipe $ 80,493 $ 83,663 $ 221,294 $ 235,446 Precast Infrastructure and Engineered Systems 38,229 39,321 112,897 115,391 Total $ 118,722 $ 122,984 $ 334,191 $ 350,837 Gross profit: Engineered Steel Pressure Pipe $ 10,911 $ 14,196 $ 31,264 $ 32,490 Precast Infrastructure and Engineered Systems 8,383 10,922 27,088 31,494 Total $ 19,294 $ 25,118 $ 58,352 $ 63,984

Note 14 - Recent Accounting and

Note 14 - Recent Accounting and Reporting Developments	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	14. Recent Accounting and Reporting Developments There have been no 2022 10‑K, Accounting Changes In October 2021, No. 2021‑08, 805 2021‑08” 606, 2021‑08 January 1, 2023 not Recent Accounting Standards In March 2023, No. 2023‑01 842 2023‑01” 1 2 no 2023‑01 January 1, 2024, 2024, not In October 2023, No. 2023‑06, 2023‑06” 2023‑06 not

Note 15 - Subsequent Event

Note 15 - Subsequent Event	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	15. Subsequent Event Share Repurchase Program On November 2, 2023, not may may 10b5‑1

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. On October 30, 2023, November 13, 2023. Neither 10b5‑1 10b5‑1 September 30, 2023, 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule Of Inventory Current And Non Current [Table Text Block]	September 30, 2023 December 31, 2022 Raw materials $ 59,408 $ 47,978 Work-in-process 9,180 5,114 Finished goods 12,205 15,773 Supplies 2,300 2,164 Total inventories $ 83,093 $ 71,029

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Total Level 1 Level 2 Level 3 As of September 30, 2023 Financial assets: Deferred compensation plan $ 3,605 $ 3,082 $ 523 $ - Foreign currency forward contracts 18 - 18 - Interest rate swaps 657 - 657 - Total financial assets $ 4,280 $ 3,082 $ 1,198 $ - Financial liabilities: Foreign currency forward contracts $ (1 ) $ - $ (1 ) $ - As of December 31, 2022 Financial assets: Deferred compensation plan $ 3,587 $ 3,090 $ 497 $ - Foreign currency forward contracts 728 - 728 - Interest rate swaps 862 - 862 - Total financial assets $ 5,177 $ 3,090 $ 2,087 $ - Financial liabilities: Foreign currency forward contracts $ (80 ) $ - $ (80 ) $ -

Note 6 - Derivative Instrumen_2

Note 6 - Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Derivative Instruments, Gain (Loss) [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Foreign currency forward contracts: Net sales $ 77 $ 599 $ (601 ) $ 841 Property and equipment (22 ) 32 (109 ) (95 ) Interest rate swaps: Interest expense 201 4 553 (78 ) Total $ 256 $ 635 $ (157 ) $ 668

Note 7 - Share-based Compensa_2

Note 7 - Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of sales $ 275 $ 474 $ 816 $ 822 Selling, general, and administrative expense 471 695 2,234 1,655 Total $ 746 $ 1,169 $ 3,050 $ 2,477
Schedule of Unvested Restricted Stock Units and Performance Share Awards Activity [Table Text Block]	Number of RSUs a nd PSAs (1) Weighted- Average Grant D ate Fair Value Unvested RSUs and PSAs as of December 31, 2022 200,924 $ 30.80 RSUs and PSAs granted 134,498 28.41 Unvested RSUs and PSAs canceled (13,589 ) 30.82 RSUs and PSAs vested (2) (95,442 ) 30.12 Unvested RSUs and PSAs as of September 30, 2023 226,391 29.66

Note 9 - Revenue (Tables)

Note 9 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Over time (Engineered Steel Pressure Pipe) $ 80,493 $ 83,663 $ 221,294 $ 235,446 Point in time (Precast Infrastructure and Engineered Systems) 38,229 39,321 112,897 115,391 Net sales $ 118,722 $ 122,984 $ 334,191 $ 350,837

Note 11 - Accumulated Other C_2

Note 11 - Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Changes in Accumulated Other Comprehensive Income Loss [Table Text Block]	Pension Liability A djustment Unrealized Gain ( Loss) on Foreign C urrency F orward C ontracts D esignated as C ash Flow H edges Unrealized Gain o n Interest Rate S waps D esignated as C ash Flow H edges Total Balances, December 31, 2022 $ (1,532 ) $ 94 $ 649 $ (789 ) Other comprehensive income (loss) before reclassifications 78 (115 ) 266 229 Amounts reclassified from Accumulated other comprehensive loss 10 17 (418 ) (391 ) Net current period other comprehensive income (loss) 88 (98 ) (152 ) (162 ) Balances, September 30, 2023 $ (1,444 ) $ (4 ) $ 497 $ (951 ) Pension Liability A djustment Unrealized Loss o n Foreign C urrency F orward C ontracts D esignated as C ash Flow H edges Unrealized Gain o n Interest Rate S waps D esignated as C ash Flow H edges Total Balances, December 31, 2021 $ (1,487 ) $ (195 ) $ - $ (1,682 ) Other comprehensive income (loss) before reclassifications 61 (383 ) 602 280 Amounts reclassified from Accumulated other comprehensive loss 5 138 59 202 Net current period other comprehensive income (loss) 66 (245 ) 661 482 Balances, September 30, 2022 $ (1,421 ) $ (440 ) $ 661 $ (1,200 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount reclassified from Accumulated Other Comprehensive Loss Affected line item in the Condensed Three Months Ended September 30, Nine Months Ended September 30, Consolidated Statements of 2023 2022 2023 2022 Operations Pension liability adjustment: Net periodic pension cost: Service cost $ (4 ) $ (2 ) $ (10 ) $ (5 ) Cost of sales (4 ) (2 ) (10 ) (5 ) Net of tax Unrealized gain (loss) on foreign currency forward contracts: Gain (loss) on cash flow hedges 10 35 87 (56 ) Net sales Loss on cash flow hedges (22 ) - (109 ) (127 ) Property and equipment Associated income tax benefit 3 22 5 45 Income tax expense (9 ) 57 (17 ) (138 ) Net of tax Unrealized gain (loss) on interest rate swaps: Gain (loss) on cash flow hedges 201 4 553 (78 ) Interest expense Associated income tax (expense) benefit (49 ) (1 ) (135 ) 19 Income tax expense 152 3 418 (59 ) Net of tax Total reclassifications for the period $ 139 $ 58 $ 391 $ (202 )

Note 12 - Net Income Per Share

Note 12 - Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net income $ 5,818 $ 9,956 $ 15,628 $ 23,188 Basic weighted-average common shares outstanding 10,014 9,927 9,985 9,909 Effect of potentially dilutive common shares (1) 93 83 103 79 Diluted weighted-average common shares outstanding 10,107 10,010 10,088 9,988 Net income per common share: Basic $ 0.58 $ 1.00 $ 1.57 $ 2.34 Diluted $ 0.58 $ 0.99 $ 1.55 $ 2.32

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net sales: Engineered Steel Pressure Pipe $ 80,493 $ 83,663 $ 221,294 $ 235,446 Precast Infrastructure and Engineered Systems 38,229 39,321 112,897 115,391 Total $ 118,722 $ 122,984 $ 334,191 $ 350,837 Gross profit: Engineered Steel Pressure Pipe $ 10,911 $ 14,196 $ 31,264 $ 32,490 Precast Infrastructure and Engineered Systems 8,383 10,922 27,088 31,494 Total $ 19,294 $ 25,118 $ 58,352 $ 63,984

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis of Presentation (Details Textual)	9 Months Ended
	Sep. 30, 2023
Number of Operating Segments	2
Number of Manufacturing Facilities	13

Note 2 - Inventories - Componen

Note 2 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Raw materials	$ 59,408	$ 47,978
Work-in-process	9,180	5,114
Finished goods	12,205	15,773
Supplies	2,300	2,164
Total inventories	$ 83,093	$ 71,029

Note 3 - Current Debt (Details

Note 3 - Current Debt (Details Textual) - Interim Funding AgreementIFA [Member] $ in Millions	Nov. 02, 2023 USD ($)	Aug. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument, Face Amount		$ 10.8
Short-Term Debt			$ 10.8	$ 10.8
Subsequent Event [Member]
Maximum Senior Leverage Ratio	3
Debt Instrument, Covenant, Minimum EBITDA	$ 35
Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Secured Overnight Financing Rate (SOFR) [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	2%

Note 4 - Credit Agreement (Deta

Note 4 - Credit Agreement (Details Textual) $ in Millions		9 Months Ended
	Oct. 22, 2021 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Letters of Credit Outstanding, Amount		$ 1.1
Wells Fargo Bank, N.A. [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 125
Line of Credit Facility, Increase (Decrease), Net		50
Maximum Senior Leverage Ratio Requirement	3
Debt Instrument, Covenant, Minimum Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization	$ 35
Wells Fargo Bank, N.A. [Member] | Revolving Credit Facility [Member]
Long-Term Line of Credit		58.1	$ 83.7
Letters of Credit Outstanding, Amount		1.1	$ 1.1
Line of Credit Facility, Remaining Borrowing Capacity		$ 66
Debt, Weighted Average Interest Rate		7.40%	6.07%
Wells Fargo Bank, N.A. [Member] | Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.30%
Wells Fargo Bank, N.A. [Member] | Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.35%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.40%

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Total financial assets	$ 4,280	$ 5,177
Fair Value, Inputs, Level 1 [Member]
Total financial assets	3,082	3,090
Fair Value, Inputs, Level 2 [Member]
Total financial assets	1,198	2,087
Fair Value, Inputs, Level 3 [Member]
Total financial assets	0	0
Deferred Compensation Plan [Member]
Deferred compensation plan	3,605	3,587
Deferred Compensation Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Deferred compensation plan	3,082	3,090
Deferred Compensation Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Deferred compensation plan	523	497
Deferred Compensation Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Deferred compensation plan	0	0
Foreign Exchange Forward [Member]
Derivative assets	18	728
Foreign currency forward contracts	(1)	(80)
Foreign Exchange Forward [Member] | Fair Value, Inputs, Level 1 [Member]
Derivative assets	0	0
Foreign currency forward contracts	0	0
Foreign Exchange Forward [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative assets	18	728
Foreign currency forward contracts	(1)	(80)
Foreign Exchange Forward [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative assets	0	0
Foreign currency forward contracts	0	0
Interest Rate Swap [Member]
Derivative assets	657	862
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member]
Derivative assets	0	0
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative assets	657	862
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative assets	$ 0	$ 0

Note 6 - Derivative Instrumen_3

Note 6 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands, € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CAD ($)	Sep. 30, 2023 EUR (€)	Apr. 03, 2023	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 EUR (€)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$ 700
Reclassified to Net Sales [Member]
Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months	0
Reclassified to Interest Expense [Member]
Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months	400
The 1.941% Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative, Notional Amount	$ 11,700				$ 26,700
Derivative, Fixed Interest Rate	1.941%	1.941%	1.941%
The 2.96% Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative, Notional Amount	$ 13,800
Derivative, Fixed Interest Rate				2.96%
Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member]
Derivative, Notional Amount	6,900	$ 9.3			17,100	$ 23.2
Designated as Hedging Instrument [Member] | Foreign Exchange Forward 1 [Member]
Derivative, Notional Amount	1,100		€ 1.1		1,100		€ 1.1
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member]
Derivative, Notional Amount	5,500	$ 7.5			$ 300	$ 0.4
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward 1 [Member]
Derivative, Notional Amount	$ 1,100		€ 1.1

Note 6 - Derivative Instrumen_4

Note 6 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gains (losses) recognized on derivatives	$ 256	$ 635	$ (157)	$ 668
Foreign Exchange Forward [Member] | Sales [Member]
Gains (losses) recognized on derivatives	77	599	(601)	841
Foreign Exchange Forward [Member] | Property and Equipment [Member]
Gains (losses) recognized on derivatives	(22)	32	(109)	(95)
Interest Rate Swap [Member] | Interest Expense [Member]
Gains (losses) recognized on derivatives	$ 201	$ 4	$ 553	$ (78)

Note 7 - Share-based Compensa_3

Note 7 - Share-based Compensation (Details Textual) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number Of Active Stock Incentive Plans	1
Number Of Inactive Stock Incentive Plans	1
Performance Shares [Member]
Performance Share Award Target Level, Percentage	100%
Performance Awards Issued Multiplier		132%	126%	159%
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number At Target Level Of Performance (in shares) | shares	170,000
Performance Shares [Member] | Minimum [Member]
Performance Awards Issued Multiplier	0%
Performance Shares [Member] | Maximum [Member]
Performance Awards Issued Multiplier	200%
Restricted Stock Units and Performance Stock Awards [Member]
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $	$ 4.4
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 8 months 12 days

Note 7 - Share-based Compensa_4

Note 7 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based compensation expense	$ 746	$ 1,169	$ 3,050	$ 2,477
Cost of Sales [Member]
Share-based compensation expense	275	474	816	822
Selling, General and Administrative Expenses [Member]
Share-based compensation expense	$ 471	$ 695	$ 2,234	$ 1,655

Note 7 - Share-based Compensa_5

Note 7 - Share-based Compensation - RSU and PSA Activity (Details) - Restricted Stock Units and Performance Stock Awards [Member]	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Unvested RSUs and PSAs (in shares) | shares	200,924	[1]
Unvested RSUs and PSAs, weighted average grant date fair value (in dollars per share) | $ / shares	$ 30.8
RSUs and PSAs granted (in shares) | shares	134,498	[1]
RSUs and PSAs granted (in dollars per share) | $ / shares	$ 28.41
Unvested RSUs and PSAs canceled (in shares) | shares	(13,589)	[1]
Unvested RSUs and PSAs canceled, weighted average grant date fair value (in dollars per share) | $ / shares	$ 30.82
RSUs and PSAs vested (in shares) | shares	(95,442)	[1],[2]
RSUs and PSAs vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 30.12	[2]
Unvested RSUs and PSAs (in shares) | shares	226,391	[1]
Unvested RSUs and PSAs, weighted average grant date fair value (in dollars per share) | $ / shares	$ 29.66
[1]The number of PSAs disclosed in this table are at the target level of 100%.[2]For the PSAs vested on March 31, 2023, the actual number of common shares that were issued was determined by multiplying the PSAs at the target level of 100%, as disclosed in this table, by a payout percentage based on the performance-based conditions achieved. The payout percentage was 159% for the 2020-2022 performance period, 126% for the 2021-2022 performance period, and 132% for the 2022 performance period.

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended
	Jan. 31, 2017 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2014 USD ($)
Other Commitment, Amount Paid for Equipment Purchased Yet Not Received		$ 1.1
Letters of Credit Outstanding, Amount		$ 1.1
Portland Harbor Natural Resources Trustee Council [Member]
Loss Contingency, Accrual, Current			$ 0.4
Portland Harbor Superfund Site [Member]
Number Of Potentially Responsible Parties	150
Estimated Cost of EPA Selected Remedy	$ 1,000
Estimated Time to Complete Selected EPA Remedy (Year)	13 years
Lower Willamette Group [Member]
Number Of Potentially Responsible Parties	14

Note 9 - Revenue 1 (Details Tex

Note 9 - Revenue 1 (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price	$ (0.8)	$ 0.2	$ (0.8)	$ (0.2)
Contract with Customer, Liability, Revenue Recognized	13.5	$ 2.8	15	$ 2.6
Revenue, Remaining Performance Obligation, Amount	$ 253		$ 253

Note 9 - Revenue 2 (Details Tex

Note 9 - Revenue 2 (Details Textual)	Sep. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Percentage	27%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Percentage	44%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 9 - Revenue - Disaggregati

Note 9 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 118,722	$ 122,984	$ 334,191	$ 350,837
Transferred over Time [Member]
Net sales	80,493	83,663	221,294	235,446
Transferred at Point in Time [Member]
Net sales	$ 38,229	$ 39,321	$ 112,897	$ 115,391

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Open Tax Year			2019 2020 2021 2022 2023
Effective Income Tax Rate Reconciliation, Percent	25.70%	26.30%	26.60%	26.40%

Note 11 - Accumulated Other C_3

Note 11 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Balances			$ (789)
Net current period other comprehensive income (loss)	$ (27)	$ 608	(162)	$ 482
Balances	(951)		(951)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balances			(1,532)	(1,487)
Other comprehensive income (loss) before reclassifications			78	61
Amounts reclassified from Accumulated other comprehensive loss			10	5
Net current period other comprehensive income (loss)			88	66
Balances	(1,444)	(1,421)	(1,444)	(1,421)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Foreign Exchange Forward [Member]
Balances			94	(195)
Other comprehensive income (loss) before reclassifications			(115)	(383)
Amounts reclassified from Accumulated other comprehensive loss			17	138
Net current period other comprehensive income (loss)			(98)	(245)
Balances	(4)	(440)	(4)	(440)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Rate Swap [Member]
Balances			649	0
Other comprehensive income (loss) before reclassifications			266	602
Amounts reclassified from Accumulated other comprehensive loss			(418)	59
Net current period other comprehensive income (loss)			(152)	661
Balances	497	661	497	661
AOCI Attributable to Parent [Member]
Balances			(789)	(1,682)
Other comprehensive income (loss) before reclassifications			229	280
Amounts reclassified from Accumulated other comprehensive loss			(391)	202
Net current period other comprehensive income (loss)			(162)	482
Balances	$ (951)	$ (1,200)	$ (951)	$ (1,200)

Note 11 - Accumulated Other C_4

Note 11 - Accumulated Other Comprehensive Loss - Reclassification of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cost of sales	$ 99,428	$ 97,866	$ 275,839	$ 286,853
Net sales	118,722	122,984	334,191	350,837
Tax (expense) benefit	(2,016)	(3,555)	(5,659)	(8,310)
Interest expense	1,162	964	3,722	2,393
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Total reclassifications for the period			(10)	(5)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Foreign Exchange Forward [Member]
Total reclassifications for the period			(17)	(138)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Rate Swap [Member]
Total reclassifications for the period			418	(59)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Total reclassifications for the period	139	58	391	(202)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Cost of sales	(4)	(2)	(10)	(5)
Total reclassifications for the period	(4)	(2)	(10)	(5)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Foreign Exchange Forward [Member]
Total reclassifications for the period	(9)	57	(17)	(138)
Net sales	10	35	87	(56)
Property and equipment	(22)	0	(109)	(127)
Tax (expense) benefit	3	22	5	45
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Rate Swap [Member]
Total reclassifications for the period	152	3	418	(59)
Tax (expense) benefit	(49)	(1)	(135)	19
Interest expense	$ 201	$ 4	$ 553	$ (78)

Note 12 - Net Income Per Shar_2

Note 12 - Net Income Per Share (Details Textual) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	0	0	0

Note 12 - Net Income Per Shar_3

Note 12 - Net Income Per Share - Loss Per Basic and Diluted Weighted Average Common Share Outstanding for Continuing and Discontinued Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income		$ 5,818	$ 9,956	$ 15,628	$ 23,188
Basic (in shares)		10,014	9,927	9,985	9,909
Effect of potentially dilutive common shares (in shares)	[1]	93	83	103	79
Diluted weighted-average common shares outstanding (in shares)		10,107	10,010	10,088	9,988
Basic (in dollars per share)		$ 0.58	$ 1	$ 1.57	$ 2.34
Diluted (in dollars per share)		$ 0.58	$ 0.99	$ 1.55	$ 2.32
[1]There were no antidilutive shares for the three and nine months ended September 30, 2023 or 2022.

Note 13 - Segment Information -

Note 13 - Segment Information - Information Related to the Operations of the Company's Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 118,722	$ 122,984	$ 334,191	$ 350,837
Gross profit	19,294	25,118	58,352	63,984
Operating Segments [Member] | Engineered Steel Pressure Pipe [Member]
Net sales	80,493	83,663	221,294	235,446
Gross profit	10,911	14,196	31,264	32,490
Operating Segments [Member] | Precast Infrastructure and Engineered Systems [Member]
Net sales	38,229	39,321	112,897	115,391
Gross profit	$ 8,383	$ 10,922	$ 27,088	$ 31,494

Note 15 - Subsequent Event (Det

Note 15 - Subsequent Event (Details Textual) $ in Millions	Nov. 02, 2023 USD ($)
Subsequent Event [Member]
Stock Repurchase Program, Authorized Amount	$ 30