earnings
confidence high
sentiment neutral
materiality 0.65
Preformed Line Products Q3 EPS $3.03, up 28% YoY; revenue down 3% to $160.4M
PREFORMED LINE PRODUCTS CO
2023-Q3 EPS reported
$11.39
revenue$524,076,000
- Net sales $160.4M, down 3% YoY largely due to communications market weakness.
- Diluted EPS of $3.03 vs $2.36 in Q3 2022, a 28% improvement.
- Gross margin 33.7%, down 150 bps from prior-year quarter.
- Backlog reduced 21% due to customer inventory destocking and lower order rates.
- YTD net income $57.0M ($11.39/diluted share), up 50% from $37.9M a year ago.