Preformed Line Products Q3 net sales down 8% YoY to $147M; EPS $1.54 vs $3.03

PREFORMED LINE PRODUCTS CO

2024-Q3 EPS reported $5.37 revenue$426,597,000

Q3 net sales $147.0M (-8% YoY); net income $7.7M ($1.54 diluted EPS) vs $15.1M ($3.03).
Nine-month net sales $426.6M (-19% YoY); net income $26.6M ($5.37) vs $57.0M ($11.39).
Decline driven by communications end-market slowdown and inventory destocking; gross margin 31.2% flat.
Order backlog increasing suggests nearing end of destocking; cost containment partially offset lower sales.

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