Loading...
•
Dec 31, 2020
Preformed Line Products Q4 2020 Earnings Report
Preformed Line Products reported a decrease in net income but an increase in net sales for Q4 2020.
Key Takeaways
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.
Net sales increased by 4% in Q4 2020 compared to Q4 2019.
Net income for Q4 2020 was $2.7 million, or $0.53 per diluted share.
The company's PLP-USA operations achieved annual net sales growth of nearly 13%.
The Asia-Pacific segment was negatively impacted by the COVID-19 pandemic.
Preformed Line Products
Preformed Line Products
Forward Guidance
The company anticipates COVID-19 will continue to challenge the business as well as the global economy well into 2021.
Challenges Ahead
- COVID-19 will continue to challenge our business
- COVID-19 will continue to challenge the global economy