UFP Technologies reports record 2022 revenue $353.8M, EPS $5.45 (+160% YoY)

UFP TECHNOLOGIES INC

Full-year 2022 revenue $353.8M (+71.5% YoY); net income $41.8M ($5.45 diluted EPS) vs $15.9M ($2.09) in 2021.
Q4 2022 revenue $91.2M (+61.9% YoY); net income $8.5M ($1.10 diluted EPS) vs $3.2M ($0.42) in Q4 2021.
Medical market sales grew 116% to $286.2M for the year; acquisitions (DAS, Contech, Advant Medical) performed above expectations.
Organic base business grew 18.6% in 2022; adjusted operating income $44.5M vs $21.6M in 2021.
Ended year with ~$55M debt; management bullish on synergies and new investments.

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 its fourth quarter ended December 31, 2022 results: revenue $91.2 million, net income $8.5 million, EPS $1.10 per diluted common share.

Period: its fourth quarter ended December 31, 2022
Revenue: $91.2 million
Net income: $8.5 million
EPS: $1.10 per diluted common share
Result: reported results

Exact text from the filing

For its fourth quarter ended December 31, 2022, the Company reported net income of $8.5 million or $1.10 per diluted common share outstanding, compared to $3.2 million or $0.42 per diluted common share outstanding in the same period of 2021. Sales for the fourth quarter 2022 were $91.2 million versus 2021 fourth quarter sales of $56.3 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

UFP TECHNOLOGIES INC reported its year ended December 31, 2022 results: revenue $353.8 million, net income $41.8 million, EPS $5.45 per diluted common share.

Period: its year ended December 31, 2022
Revenue: $353.8 million
Net income: $41.8 million
EPS: $5.45 per diluted common share
Result: reported results

Exact text from the filing

UFP Technologies, Inc. (Nasdaq: UFPT), a designer and custom manufacturer of engineered solutions primarily for the medical market, today reported net income of $41.8 million or $5.45 per diluted common share outstanding for its year ended December 31, 2022, compared to net income of $15.9 million or $2.09 per diluted common share outstanding for 2021. Net Sales for 2022 were $353.8 million compared to 2021 sales of $206.3 million.

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Source: SEC EDGAR

accession 0001171843-23-001594

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