PLPC Q3 net sales $165.4M (+22% YoY); adjusted net income record $18.4M

PREFORMED LINE PRODUCTS CO

2022-Q3 EPS reported $7.60 revenue$467,097,000

Q3 net sales $165.4M (+22% YoY); diluted EPS $2.36 (+10% from $2.15).
Net income $11.9M includes $6.5M goodwill impairment for Asia-Pacific; adjusted net income $18.4M was a quarterly record (+72%).
Gross margin expanded to 35.2% from 31.9% on operational efficiencies and price increases.
Nine-month net sales $467.1M (+21%); net income $37.9M ($7.60 EPS) vs $26.8M ($5.40 EPS) prior year.
Currency translation unfavorably impacted Q3 net sales by $8.2M.

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

PREFORMED LINE PRODUCTS CO reported third quarter ended September 30, 2022 results: revenue $165.4 million, net income $11.9 million, EPS $2.36 per diluted share.

Period: third quarter ended September 30, 2022
Revenue: $165.4 million
Net income: $11.9 million
EPS: $2.36 per diluted share
Result: reported results

Exact text from the filing

Net sales for the third quarter of 2022 were $165.4 million, an increase of 22%, compared to $135.4 million in the third quarter of 2021. Currency translation rates had an unfavorable impact on 2022 third quarter net sales of $8.2 million. The Company posted net income for the third quarter of 2022 of $11.9 million, or $2.36 per diluted share, compared to $10.7 million, or $2.15 per diluted share, in the third quarter of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PREFORMED LINE PRODUCTS CO reported the nine months ended September 30, 2022 results: revenue $467.1 million, net income $37.9 million, EPS $7.60 per diluted share.

Period: the nine months ended September 30, 2022
Revenue: $467.1 million
Net income: $37.9 million
EPS: $7.60 per diluted share
Result: reported results

Exact text from the filing

Net sales increased 21% to $467.1 million for the first nine months of 2022 compared to $386.0 million for the first nine months of 2021. Currency translation rates had an unfavorable impact on net sales of $16.2 million for the nine months ended September 30, 2022. Net income for the nine months ended September 30, 2022 was $37.9 million, or $7.60 per diluted share, compared to $26.8 million or $5.40 per diluted share, for the comparable period in 2021.

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Source: SEC EDGAR

accession 0001564590-22-035944

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