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Jun 30, 2021
UFP Technologies Q2 2021 Earnings Report
UFP Technologies reported strong results, with sales and net income significantly increased compared to the same quarter last year.
Key Takeaways
UFP Technologies reported a strong Q2 2021 with sales increasing nearly 19% and net income more than doubling compared to the prior year. Sales grew in every market, including Medical, with Automotive and Consumer showing the greatest growth.
Sales for the second quarter were $50.7 million, compared to $42.6 million in 2020.
Net income for the second quarter was $4.7 million, or $0.62 per diluted share, compared to $2.3 million, or $0.31 per diluted share in 2020.
Gross margins improved to 26.5%.
The company has $30 million in cash.
Forward Guidance
UFP Technologies is excited and bullish about its future due to progress on strategic initiatives, a healthy pipeline of growth opportunities, and a strong balance sheet.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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