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Jun 30, 2022
UFP Technologies Q2 2022 Earnings Report
UFP Technologies reported record Q2 results driven by organic growth and recent acquisitions.
Key Takeaways
UFP Technologies reported a significant increase in sales and net income for Q2 2022. Sales increased to $94.3 million, and net income rose to $8.9 million, or $1.17 per diluted share, compared to the same quarter in the previous year.
Sales for the second quarter were $94.3 million, an increase from $50.7 million in the second quarter of 2021.
Net income for the quarter was $8.9 million, or $1.17 per diluted share, compared to $4.7 million, or $0.62 per diluted share, for the same quarter in 2021.
Operating income grew 97% to $12.2 million.
The company sold its Molded Fiber business and related Iowa real estate to CKF for $32 million on July 26th.
Forward Guidance
UFP Technologies' improved operating results, combined with cash generated from recent sales, will increase availability under its line of credit and position the company well to fund new internal and external growth opportunities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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