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Sep 30, 2022
Preformed Line Products Q3 2022 Earnings Report
Achieved record quarterly net sales for the second consecutive quarter, with a 22% increase in net income compared to Q3 2021, despite a non-cash goodwill impairment charge in the Asia-Pacific region.
Key Takeaways
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.
Net sales increased by 22% compared to Q3 2021, reaching a record $165.4 million.
Net income increased by 11% to $11.9 million, impacted by a $6.5 million non-cash goodwill impairment charge.
Excluding the impairment charge, net income would have been $18.4 million, a 72% increase from Q3 2021 and a quarterly record.
Diluted EPS increased by 10% to $2.36 compared to the same period in 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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