Preformed Line Products reports record Q4 net sales $169.9M, EPS $3.28, up 83% YoY

PREFORMED LINE PRODUCTS CO

2022-FY EPS reported $10.88 revenue$637,021,000

Q4 2022 net sales $169.9M (+29.3% YoY); full-year net sales $637.0M (+23.1% YoY), both records.
Q4 diluted EPS $3.28 vs $1.79; full-year diluted EPS $10.88 vs $7.19, both records.
Gross margin improved 630 bps in Q4 to 36.6%; full-year gross margin 33.8% (+170 bps).
Foreign currency translation reduced Q4 sales by $8.0M and full-year sales by $24.2M.
CEO cites price increases offsetting inflation; four acquisitions completed in last five quarters.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PREFORMED LINE PRODUCTS CO reported the fourth quarter ended December 31, 2022 results: revenue $169.9 million, net income $16.5 million, EPS $3.28 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $169.9 million
Net income: $16.5 million
EPS: $3.28 per diluted share
Result: reported results

Exact text from the filing

Net sales in the fourth quarter of 2022 were $169.9 million compared to $131.4 million in the fourth quarter of 2021, a 29.3% increase and a new record for quarterly shipments. Foreign currency translation reduced fourth quarter 2022 net sales by $8.0 million. Net income for the quarter ended December 31, 2022 was $16.5 million, or $3.28 per diluted share, compared to $9.0 million, or $1.79 per diluted share, for the comparable period in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PREFORMED LINE PRODUCTS CO reported the full year ended December 31, 2022 results: revenue $637.0 million, net income $54.4 million, EPS $10.88 per diluted share.

Period: the full year ended December 31, 2022
Revenue: $637.0 million
Net income: $54.4 million
EPS: $10.88 per diluted share
Result: reported results

Exact text from the filing

Net sales for the full year 2022 were $637.0 million, compared to $517.4 million in 2021. This is the fourth consecutive year of record net sales and represents a 23.1% increase versus prior year. Foreign currency translation reduced full year 2022 net sales by $24.2 million. Net income for the year ended December 31, 2022 was $54.4 million, or $10.88 per diluted share, compared to $35.7 million, or $7.19 per diluted share in 2021.

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Source: SEC EDGAR

accession 0000950170-23-005567

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