UFP Technologies Q3 net income up 40% to $16.4M, sales up 44% to $145.2M

UFP TECHNOLOGIES INC

2024-Q3 EPS reported $5.49 revenue$360,351,000

Net income rose 40% to $16.4M vs $11.7M YoY; adjusted net income up 46.5% to $18.6M.
Sales increased 44% to $145.2M; organic sales growth of 9.7% driven by robotic surgery and infection prevention markets.
Acquisitions accretive to EPS by ~$0.17 after absorbing $3.1M in interest expense; gross margin 28.6% despite $1.1M in purchase accounting costs.
Adjusted EBITDA up 61.4% to $31.2M; nine-month adjusted EBITDA $75.9M up 26% YoY.
Medical market sales up 52.2% to $132.6M; aerospace and defense up 27.9% year-to-date.

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