Preformed Line Products FY 2023 net sales record $669.7M (+5%); Q4 net income drops 62% to $6.3M

PREFORMED LINE PRODUCTS CO

Full-year diluted EPS $12.68 (record, +17% YoY); net income $63.3M.
Q4 net sales $145.6M (-14% YoY) due to communication market softness and customer destocking.
Q4 net income $6.3M ($1.29 EPS) vs $16.5M ($3.28 EPS) in Q4 2022; impacted by $2.3M foreign currency losses and $3.5M customer charges.
Management expects BEAD program to drive communications demand in late 2024/early 2025.
Fifth consecutive year of record annual net sales; fourth consecutive year of EPS growth.

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 1.0

PREFORMED LINE PRODUCTS CO reported financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 7, 2024, Preformed Line Products Company issued a press release announcing earnings for the fourth quarter and full year ended December 31, 2023.

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PREFORMED LINE PRODUCTS CO filing history →

Source: SEC EDGAR

accession 0000950170-24-028087

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