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Dec 31, 2022
Preformed Line Products Q4 2022 Earnings Report
Preformed Line Products reported record results for Q4 and Full Year 2022, with net sales and EPS reaching new highs.
Key Takeaways
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.
Record quarterly net sales; increased 29% from comparable 2021 period
Record quarterly net income of $16.5 million
Diluted EPS of $3.28, an increase of 83% from Q4 2021, a new quarterly record
Gross profit as a percentage of net sales was 36.6% for the fourth quarter of 2022, an increase of 630 bps versus the same quarter in 2021.
Preformed Line Products
Preformed Line Products
Forward Guidance
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations concerning the Company's future performance or anticipated financial results, among others.
Challenges Ahead
- Uncertainty in global business conditions and the economy due to factors such as inflation, rising interest rates, labor disruptions, military conflict, political instability, exchange rates and lingering effects of COVID-19
- Strength of demand and availability of funding for the Company's products and the mix of products sold
- Relative degree of competitive and customer price pressure on the Company's products
- Cost, availability and quality of raw materials required for the manufacture of products
- Opportunities for business growth through acquisitions and the ability to successfully integrate any acquired businesses