UFP Technologies reports record Q3: EPS $2.56 vs $0.50, sales up 91% to $97M

UFP TECHNOLOGIES INC

2022-Q3 EPS reported $4.37 revenue$262,555,000

Net income $19.5M ($2.56 diluted EPS) vs $3.8M ($0.50) in Q3 2021; sales $97.0M, up 91.2% YoY.
Medical market sales surged 152% to $81.6M; organic sales grew 21.7%, organic operating income up 36.6%.
Results include $15.6M gain on sale of Molded Fiber Technology and $3.3M earnout charge for DAS acquisition.
Gross margin improved to 26.3% from 23.7%; year-to-date net income $33.3M, up from $12.7M.

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

UFP TECHNOLOGIES INC reported nine-month period ended September 30, 2022 results: revenue $262.6 million, net income $33.3 million, EPS $4.37 per diluted common share outstanding.

Period: nine-month period ended September 30, 2022
Revenue: $262.6 million
Net income: $33.3 million
EPS: $4.37 per diluted common share outstanding
Result: reported results

Exact text from the filing

Net income for the nine-month period ended September 30, 2022 was $33.3 million or $4.37 per diluted common share outstanding compared to $12.7 million or $1.67 per diluted common share outstanding for the same period in 2021. Sales for the nine-month period ended September 30, 2022 were $262.6 million compared to sales of $150.0 million for the same period in 2021.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

UFP TECHNOLOGIES INC reported third quarter ended September 30, 2022 results: revenue $97.0 million, net income $19.5 million, EPS $2.56 per diluted common share outstanding.

Period: third quarter ended September 30, 2022
Revenue: $97.0 million
Net income: $19.5 million
EPS: $2.56 per diluted common share outstanding
Result: reported results

Exact text from the filing

UFP Technologies, Inc. (Nasdaq: UFPT), an innovative designer and custom manufacturer of components, subassemblies, products, and packaging primarily for the medical market, today reported net income of $19.5 million or $2.56 per diluted common share outstanding for its third quarter ended September 30, 2022, compared to net income of $3.8 million or $0.50 per diluted common share outstanding for the same quarter in 2021. Sales for the third quarter were $97.0 million compared to 2021 third quarter sales of $50.7 million.

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Source: SEC EDGAR

accession 0001171843-22-007130

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