PLPC Q2 net sales down 24% to $138.7M; EPS $1.89 vs $4.08

PREFORMED LINE PRODUCTS CO

2024-Q2 EPS reported $3.83 revenue$279,625,000

Net sales $138.7M (-24% YoY); diluted EPS $1.89 vs $4.08; gross margin 31.9% down 460 bps.
Six-month net sales $279.6M (-23%); net income $19.0M ($3.83 diluted EPS) vs $41.9M ($8.35).
Decline driven by communications end market slowdown, higher borrowing costs, delay in BEAD stimulus, inventory destocking.
Cost reduction activities from 2023 partially offset lower sales; strong liquidity maintained.

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