UFP Technologies reports record 2023; EPS up 7% to $5.83, sales +13.1%

UFP TECHNOLOGIES INC

2023-FY EPS reported $5.83 revenue$400,072,000

FY2023 net sales $400.1M (+13.1% YoY); net income $44.9M ($5.83 diluted EPS) vs $41.8M ($5.45).
Q4 sales $101.5M (+11.2%); net income $11.6M ($1.51) vs $8.5M ($1.10) year ago.
MedTech sales grew 21% to $346.4M; adjusted operating income +37.9% to $61.3M.
Adjusted net income per diluted share up 41.0% for full year; adjusted EBITDA $77.3M.
Added 70% capacity for robotic surgery with new clean rooms in Ireland, Costa Rica, Dominican Republic.

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 fourth quarter ended December 31, 2023 results: revenue $101.5 million, net income $11.6 million, EPS $1.51 per diluted common share outstanding.

Period: fourth quarter ended December 31, 2023
Revenue: $101.5 million
Net income: $11.6 million
EPS: $1.51 per diluted common share outstanding
Result: reported results

Exact text from the filing

per diluted common share outstanding, compared to $8.5 million or $1.10 per diluted common share outstanding in the same period of 2022. Sales for the fourth quarter 2023 were $101.5 million, 11.2% higher than 2022 fourth quarter sales of $91.2 million. “I am very pleased with our fourth quarter and full year 2023 results,” said R. Jeffrey Bailly, Chairman & CEO.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UFP TECHNOLOGIES INC reported year ended December 31, 2023 results: revenue $400.1 million, net income $44.9 million, EPS $5.83 per diluted common share outstanding.

Period: year ended December 31, 2023
Revenue: $400.1 million
Net income: $44.9 million
EPS: $5.83 per diluted common share outstanding
Result: reported results

Exact text from the filing

share outstanding for its year ended December 31, 2023, compared to net income of $41.8 million or $5.45 per diluted common share outstanding for 2022. Net sales for 2023 were $400.1 million, 13.1% higher than 2022 sales of $353.8 million. For its fourth quarter ended December 31, 2023, the Company reported net income of $11.6 million or $1.51 per diluted common

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Source: SEC EDGAR

accession 0001171843-24-000970

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