UFP Technologies Q2 net income $13.6M ($1.75 EPS), revenue up 10% to $110.2M; acquires three firms

UFP TECHNOLOGIES INC

2024-Q2 EPS reported $3.38 revenue$110,177,000

Net income $13.6M ($1.75 diluted EPS) vs $11.9M ($1.55) in Q2 2023, up 14.0%.
Q2 revenue $110.2M (+10.1% YoY), driven by robotic surgery and infection prevention markets.
Completed three acquisitions (Marble Medical, AJR Enterprises, Welch Fluorocarbon) adding ~$90M revenue and $20M EBITDA.
New $275M credit facility; pro-forma leverage ~1.8x post-acquisitions.
Gross margin improved to 30.0% from 29.6%; SG&A increased to 12.6% of sales.

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