Preformed Line Products Earnings Reports

Preformed Line Products reported a decrease in net sales by 8% to $147.0 million compared to $160.4 million in the third quarter of 2023. Net income also decreased to $7.7 million, or $1.54 per diluted share, compared to $15.1 million, or $3.03 per diluted share, for the comparable period in 2023. The decline in sales is primarily related to a continuation of the slowdown in spending in the communications end market.

Preformed Line Products reported a decrease in net sales and net income for the second quarter of 2024, primarily due to reduced spending in the communications sector. Cost reduction activities helped maintain solid financial results amidst the slowdown.

Preformed Line Products' first quarter 2024 net sales decreased by 22% to $140.9 million compared to $181.8 million in the first quarter of 2023. Net income for the quarter was $9.6 million, or $1.94 per diluted share, compared to $21.4 million, or $4.28 per diluted share, for the comparable period in 2023.

Preformed Line Products reported a decrease in net sales for Q4 2023, primarily due to a reduction in communication product sales. Net income also decreased compared to the same period in 2022, impacted by lower gross profit, foreign currency transaction losses, and customer-specific charges.

Preformed Line Products reported a 3% decrease in net sales, primarily due to weakness in the communications market, but diluted EPS improved by 28%.

Preformed Line Products reported strong second-quarter results with net sales growth matching the quarterly record and a significant increase in diluted EPS. The company benefited from increased gross profit due to incremental sales and price increases, offsetting inflation impacts.

Preformed Line Products Company reported a strong first quarter in 2023, achieving record quarterly net sales and net income. Net sales increased by 32% compared to the first quarter of 2022, reaching $181.8 million. Net income also reached a record of $21.4 million, or $4.28 per diluted share, a 72% increase from Q1 2022.

Preformed Line Products Company reported record fourth quarter and full year 2022 financial results. Q4 net sales increased by 29% to $169.9 million, and diluted EPS increased by 83% to $3.28. Full year net sales increased by 23% to $637.0 million, and diluted EPS increased by 51% to $10.88.

Preformed Line Products reported record net sales for the second consecutive quarter, increasing 22% to $165.4 million compared to Q3 2021. Net income increased by 11% to $11.9 million, which includes a $6.5 million non-cash goodwill impairment charge for the Asia-Pacific region.

Preformed Line Products reported a strong second quarter in 2022, marked by record net sales and profit. Net sales increased by 23% compared to the same period in 2021, reaching $163.5 million. Diluted EPS also saw a significant increase of 54%, reaching $2.77. The company's net income for the quarter was $13.7 million, benefiting from increased sales and effective leveraging of fixed costs and gross margin gains.

Preformed Line Products reported a strong start to 2022, with net sales increasing by 18% to $138.2 million and diluted EPS rising by 72% to $2.49. Results were positively impacted by a $4.4 million gain from life insurance death benefits, but negatively affected by a $1.0 million charge related to winding down the company's Russian subsidiary.

Preformed Line Products announced a 10.9% increase in net sales for Q4 2021, reaching $131.4 million compared to $118.5 million in Q4 2020. Net income for the quarter was $9.0 million, or $1.79 per diluted share, up from $2.7 million, or $0.53 per diluted share, in the same period last year.

Preformed Line Products reported a 6.2% increase in net sales for Q3 2021, reaching $135.4 million, but net income decreased to $10.7 million, or $2.15 per diluted share, compared to $13.0 million, or $2.59 per diluted share, in Q3 2020, impacted by rising costs and expenses.

Preformed Line Products reported a 13.1% increase in net sales for Q2 2021, reaching $133.0 million compared to $117.6 million in Q2 2020. However, net income decreased to $8.9 million, or $1.80 per diluted share, from $10.5 million, or $2.11 per diluted share, in the same quarter of the previous year.

Preformed Line Products reported a strong first quarter with a 14% increase in net sales and a significant rise in net income. All regions contributed to the net sales growth and improved profitability, with PLP USA leading the increase due to growth in communications products and the strength of U.S.-based facilities. Geographic diversification helped to mitigate risks during challenging economic conditions.

Preformed Line Products Company reported an increase in net sales for the fourth quarter of 2020, from $113.6 million to $118.5 million. However, net income decreased from $5.6 million, or $1.09 per diluted share, to $2.7 million, or $0.53 per diluted share.

Preformed Line Products reported a 7% increase in net sales to $127.5 million and net income of $13.0 million, or $2.59 per diluted share, for the third quarter of 2020.

Preformed Line Products Company reported an increase in net sales by 2% and net income for the quarter ended June 30, 2020 was $10.5 million, or $2.11 per diluted share, compared to $7.9 million, or $1.56 per diluted share, for the comparable period in 2019.

Preformed Line Products reported a 6% increase in net sales to $102.9 million and net income of $3.7 million, or $0.74 per diluted share, compared to $97.2 million and $1.8 million, or $0.36 per diluted share, respectively, in the first quarter of 2019. The company faced challenges due to COVID-19, particularly in its Asia-Pacific business segment, but delivered profitable sales growth in all other business segments.

Preformed Line Products Company reported net sales of $113.6 million and net income of $5.6 million, or $1.09 per diluted share, for the fourth quarter of 2019. The company experienced an 8% increase in net sales compared to the fourth quarter of 2018.