UFP Technologies posts record Q2: net income $11.9M, EPS $1.55, sales $100M

UFP TECHNOLOGIES INC

2023-Q2 EPS reported $2.81 revenue$100,037,000

Net income $11.9M ($1.55 diluted EPS) vs $8.9M ($1.17) in Q2 2022, up 34%.
Sales $100.0M (+6.0% YoY); MedTech sales +15.9%; organic sales +13% excluding divested Molded Fiber.
Gross margin improved to 29.6% from 25.8%; adjusted operating income up 41.6% to $17.3M.
Acquisitions (DAS, Contech, Advant Medical) performing ahead of expectations; new Tijuana facility profitable.
YTD net income $21.6M ($2.81 EPS) vs $13.8M ($1.81); sales $197.8M (+19.4% YoY).

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 0.9

UFP TECHNOLOGIES INC reported second quarter ended June 30, 2023 results: net income net income of $11.9 million or $1.55 per diluted common share outstanding.

Period: second quarter ended June 30, 2023
Net income: net income of $11.9 million or $1.55 per diluted common share outstanding
Result: reported results

Exact text from the filing

On August 1, 2023, UFP Technologies, Inc. issued a press release announcing its financial results for the second quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001171843-23-005006

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