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Jun 30, 2023
Preformed Line Products Q2 2023 Earnings Report
Reported an 11% increase in net sales and a 47% increase in diluted EPS compared to Q2 2022.
Key Takeaways
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.
Net sales increased by 11% compared to Q2 2022, matching the quarterly record.
Gross profit margin was 36.5%, consistent with Q1 2023.
Diluted EPS increased by 47% to $4.08 compared to Q2 2022.
Net income benefited from increased gross profit from incremental sales and selling price increases offsetting inflation.
Preformed Line Products
Preformed Line Products
Forward Guidance
The company will continue to focus on delivering high-quality products and timely service.
Positive Outlook
- Focus on delivery of high-quality products.
- Commitment to timely service.
- Improved production lead times.
- Strong net sales performance.
- Strong net income and earnings per share.
Challenges Ahead
- Uncertainty in global business conditions due to inflation.
- Rising interest rates.
- Potential labor disruptions.
- Military conflict and political instability.
- Exchange rate fluctuations.