Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its fourth quarter of 2024 and full year ended December 31, 2024. ...

CLEVELAND, March 13, 2025 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its fourth quarter of 2024 and full year ended December 31, 2024.

Q4/Full Year 2024 Highlights:

Net sales in the fourth quarter of 2024 were $167.1 million compared to $145.6 million in the fourth quarter of 2023, a 15% increase. The international subsidiaries accounted for the majority of the sales increase primarily due to an increase in energy market sales and to a lesser extent the communications end market. Foreign currency translation reduced fourth quarter 2024 net sales by $3.0 million.

Net income for the quarter ended December 31, 2024, was $10.5 million, or $2.13 per diluted share, compared to $6.3 million, or $1.29 per diluted share, for the comparable period in 2023. The fourth quarter of 2024 net income was impacted by an increase in gross profit from higher sales levels, lower period expenses, and lower interest expense. Gross profit as a percentage of net sales was 33.3% for the fourth quarter of 2024, an increase of 30 basis points versus the same quarter in 2023.

Net sales decreased 11% to $593.7 million for the full year 2024 compared to $669.7 million in 2023. The year-over-year decline in sales is due primarily to the slowdown in spending and inventory de-stocking within the U.S. energy and communications end markets. Foreign currency translation rates reduced net sales by $4.2 million for the year ended December 31, 2024.

Net income for the year ended December 31, 2024 was $37.1 million, or $7.50 per diluted share, compared to $63.3 million, or $12.68 per diluted share, for the comparable period in 2023. YTD December 31, 2024 net income was impacted by decreased gross profit resulting from the decrease in sales, which was partially offset by lower period expenses and lower interest expense.

Rob Ruhlman, Executive Chairman, said, "The increase in fourth quarter sales of 15% versus the fourth quarter of 2023, as well as the sequential increase of 14% from last quarter, indicate we are approaching the end of inventory destocking within our primary end markets. Full year net sales declined 11% versus 2023, primarily due to the softness in the U.S. communications end market, caused by a reduction in customer deployment due to higher borrowing costs, a delay in Broadband Equity, Access, and Deployment ("BEAD") Program stimulus funding and customer inventory de-stocking to re-align inventory levels with current manufacturing lead times. While 2024 was a challenging year, I am encouraged by the contributions made by our international subsidiaries, which mitigated some of the weakness in our U.S. business. Our cost reduction activities along with reduced capital expenditures, reduced acquisition activity and lower borrowing costs in 2024 resulted in strong cash generation enabling debt reduction of $33.7 million. Our strong balance sheet and liquidity allows for continued investment in new product development to satisfy customer requirements, facility modernization and automation for our global manufacturing operations as well as opportunities for continued growth through logical acquisitions. Our current focus is unchanged: provide our customers with the high-quality products and timely service they have come to expect from PLP."

A presentation on fourth quarter and full-year results will also be available on PLP's website at www.plp.com/investor-relations.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations concerning the Company's future performance or anticipated financial results, among others. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties which may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include the uncertainty in global business conditions and the economy due to factors such as inflation, rising interest rates, tariffs, labor disruptions, military conflict, political instability, exchange rates, natural disasters and health epidemics, the strength of demand and availability of funding for the Company's products and the mix of products sold, the relative degree of competitive and customer price pressure on the Company's products, the cost, availability and quality of raw materials required for the manufacture of products, the Company's continued access to financing, opportunities for business growth through acquisitions and the ability to successfully integrate any acquired businesses, changes in regulations and tax rates, security breaches, litigation and claims and the Company's ability to continue to develop proprietary technology and maintain high-quality products and customer service to meet or exceed new industry performance standards and individual customer expectations, and other factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the Company's 2023 Annual Report on Form 10-K filed with the SEC on March 8, 2024 and subsequent filings with the SEC. The Annual Report on Form 10-K and the Company's other filings with the SEC can be found on the SEC's website at http://www.sec.gov. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

ABOUT PLP

PLP protects the world's most critical connections by creating stronger and more reliable networks. The company's precision-engineered solutions are trusted by energy and communications providers worldwide to perform better and last longer. With locations in 20 countries, PLP works as a united global corporation, delivering high-quality products and unparalleled service to customers around the world.

PREFORMED LINE PRODUCTS COMPANYCONSOLIDATED BALANCE SHEETS

December 31, 2024

December 31, 2023

(Thousands of dollars, except share and per share data)

ASSETS

Cash, cash equivalents and restricted cash

$                         57,244

$                         53,607

Accounts receivable, net

111,402

106,892

Inventories, net

129,913

148,814

Prepaid expenses

11,720

8,246

Other current assets

5,514

7,256

TOTAL CURRENT ASSETS

315,793

324,815

Property, plant and equipment, net

195,086

207,892

Goodwill

26,685

29,497

Other intangible assets, net

9,656

12,981

Deferred income taxes

6,546

7,109

Other assets

20,111

20,857

TOTAL ASSETS

$                       573,877

$                       603,151

LIABILITIES AND SHAREHOLDERS' EQUITY

Trade accounts payable

$                         41,951

$                         37,788

Notes payable to banks

7,782

6,968

Current portion of long-term debt

2,430

6,486

Accrued compensation and other benefits

25,904

28,018

Accrued expenses and other liabilities

30,346

32,057

TOTAL CURRENT LIABILITIES

108,413

111,317

Long-term debt, less current portion

18,357

48,796

Other noncurrent liabilities and deferred income taxes

24,783

26,882

SHAREHOLDERS' EQUITY

Common shares – $2 par value per share, 15,000,000 shares authorized, 4,913,621 and 4,908,413 issued and outstanding, at December 31, 2024 and December 31, 2023

13,752

13,607

Common shares issued to rabbi trust, 222,887 and 243,118 shares at December 31, 2024 and December 31, 2023, respectively

(9,575)

(10,183)

Deferred compensation liability

9,575

10,183

Paid-in capital

65,093

60,958

Retained earnings

553,179

520,154

Treasury shares, at cost, 1,961,772 and 1,894,419 shares at December 31, 2024 and December 31, 2023, respectively

(126,800)

(118,249)

Accumulated other comprehensive loss

(82,909)

(60,306)

TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS' EQUITY

422,315

416,164

Noncontrolling interest

9

(8)

TOTAL SHAREHOLDERS' EQUITY

422,324

416,156

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$                       573,877

$                       603,151

PREFORMED LINE PRODUCTS COMPANYSTATEMENTS OF CONSOLIDATED INCOME

Three Months Ended December 31,

Twelve Months Ended December 31,

2024

2023

2024

2023

(Thousands of dollars, except per share data)

Net sales

$                 167,117

$                 145,603

$                 593,714

$                 669,679

Cost of products sold

111,488

97,503

403,903

434,831

GROSS PROFIT

55,629

48,100

189,811

234,848

Costs and expenses

Selling

12,576

12,945

48,722

51,078

General and administrative

19,205

20,019

67,477

74,643

Research and engineering

5,589

5,688

21,923

22,481

Other operating expense, net

746

2,502

932

2,492

38,116

41,154

139,054

150,694

OPERATING INCOME

17,513

6,946

50,757

84,154

Other income (expense)

Interest income

717

610

2,573

1,811

Interest expense

(381)

(707)

(2,221)

(3,905)

Other (expense) income, net

(528)

119

(339)

284

(192)

22

13

(1,810)

INCOME BEFORE INCOME TAXES

17,321

6,968

50,770

82,344

Income tax expense

6,876

659

13,659

19,007

NET INCOME

$                   10,445

$                     6,309

$                   37,111

$                   63,337

Net loss (income) attributable to noncontrolling interests

7

23

(17)

(5)

NET INCOME ATTRIBUTABLE TOPREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS

$                   10,452

$                     6,332

$                   37,094

$                   63,332

AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:

Basic

4,897

4,864

4,908

4,920

Diluted

4,917

4,902

4,947

4,997

EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS:

Basic

$                       2.13

$                       1.30

$                       7.56

$                     12.87

Diluted

$                       2.13

$                       1.29

$                       7.50

$                     12.68

Cash dividends declared per share

$                       0.20

$                       0.20

$                       0.80

$                       0.80

SOURCE Preformed Line Products

PLPC

PREFORMED LINE PRODUCTS ANNOUNCES FOURTH QUARTER 2024 FINANCIAL RESULTS

<article style="font-family: Arial, sans-serif; line-height: 1.6; color: #333; padding: 20px;">
    <h1 style="font-size: 24px; color: #2c3e50;">CLEVELAND, March 13, 2025 /PRNewswire/</h1>
    <p style="font-size: 16px;">Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its fourth quarter of 2024 and full year ended December 31, 2024.</p>

    <h2 style="font-size: 20px; color: #2980b9;">Q4/Full Year 2024 Highlights:</h2>
    
    <p style="font-size: 16px;">Net sales in the fourth quarter of 2024 were $167.1 million compared to $145.6 million in the fourth quarter of 2023, a 15% increase. The international subsidiaries accounted for the majority of the sales increase primarily due to an increase in energy market sales and to a lesser extent the communications end market. Foreign currency translation reduced fourth quarter 2024 net sales by $3.0 million.</p>
    
    <p style="font-size: 16px;">Net income for the quarter ended December 31, 2024, was $10.5 million, or $2.13 per diluted share, compared to $6.3 million, or $1.29 per diluted share, for the comparable period in 2023. The fourth quarter of 2024 net income was impacted by an increase in gross profit from higher sales levels, lower period expenses, and lower interest expense. Gross profit as a percentage of net sales was 33.3% for the fourth quarter of 2024, an increase of 30 basis points versus the same quarter in 2023.</p>
    
    <p style="font-size: 16px;">Net sales decreased 11% to $593.7 million for the full year 2024 compared to $669.7 million in 2023. The year-over-year decline in sales is due primarily to the slowdown in spending and inventory de-stocking within the U.S. energy and communications end markets. Foreign currency translation rates reduced net sales by $4.2 million for the year ended December 31, 2024.</p>
    
    <p style="font-size: 16px;">Net income for the year ended December 31, 2024 was $37.1 million, or $7.50 per diluted share, compared to $63.3 million, or $12.68 per diluted share, for the comparable period in 2023. YTD December 31, 2024 net income was impacted by decreased gross profit resulting from the decrease in sales, which was partially offset by lower period expenses and lower interest expense.</p>
    
    <blockquote style="font-style: italic; margin-left: 20px; padding: 10px; border-left: 4px solid #2980b9; background-color: #f9f9f9;">
        <p style="margin: 0;">Rob Ruhlman, Executive Chairman, said, "The increase in fourth quarter sales of 15% versus the fourth quarter of 2023, as well as the sequential increase of 14% from last quarter, indicate we are approaching the end of inventory destocking within our primary end markets. Full year net sales declined 11% versus 2023, primarily due to the softness in the U.S. communications end market, caused by a reduction in customer deployment due to higher borrowing costs, a delay in Broadband Equity, Access, and Deployment ("BEAD") Program stimulus funding and customer inventory de-stocking to re-align inventory levels with current manufacturing lead times...</p>
    </blockquote>
    
    <p style="font-size: 16px;">A presentation on fourth quarter and full-year results will also be available on PLP's website at <a href="http://www.plp.com/investor-relations" style="color: #2980b9;">www.plp.com/investor-relations</a>.</p>
    
    <h2 style="font-size: 20px; color: #2980b9;">FORWARD-LOOKING STATEMENTS</h2>
    
    <p style="font-size: 16px;">This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations concerning the Company's future performance or anticipated financial results, among others. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties which may cause results to differ materially from those set forth in those statements...</p>
    
    <h2 style="font-size: 20px; color: #2980b9;">ABOUT PLP</h2>
    
    <p style="font-size: 16px;">PLP protects the world's most critical connections by creating stronger and more reliable networks. The company's precision-engineered solutions are trusted by energy and communications providers worldwide to perform better and last longer. With locations in 20 countries, PLP works as a united global corporation, delivering high-quality products and unparalleled service to customers around the world.</p>

    <h2 style="font-size: 20px; color: #2980b9;">PREFORMED LINE PRODUCTS COMPANY CONSOLIDATED BALANCE SHEETS</h2>
    
    <h3 style="font-size: 18px;">December 31, 2024</h3>
    <h3 style="font-size: 18px;">December 31, 2023</h3>
    
    <table style="border-collapse: collapse; width: 100%; margin-top: 10px;">
        <tr>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">(Thousands of dollars, except share and per share data)</th>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">December 31, 2024</th>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">December 31, 2023</th>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Cash, cash equivalents and restricted cash</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 57,244</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 53,607</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Accounts receivable, net</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 111,402</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 106,892</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Inventories, net</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 129,913</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 148,814</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Prepaid expenses</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 11,720</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 8,246</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Other current assets</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 5,514</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 7,256</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">TOTAL CURRENT ASSETS</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 315,793</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 324,815</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Property, plant and equipment, net</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 195,086</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 207,892</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Goodwill</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 26,685</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 29,497</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Other intangible assets, net</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 9,656</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 12,981</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Deferred income taxes</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 6,546</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 7,109</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Other assets</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 20,111</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 20,857</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">TOTAL ASSETS</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 573,877</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 603,151</td>
        </tr>
    </table>
    
    <h2 style="font-size: 20px; color: #2980b9;">PREFORMED LINE PRODUCTS COMPANY STATEMENTS OF CONSOLIDATED INCOME</h2>
    
    <h3 style="font-size: 18px;">Three Months Ended December 31, 2024</h3>
    <h3 style="font-size: 18px;">Twelve Months Ended December 31, 2024</h3>
    
    <table style="border-collapse: collapse; width: 100%; margin-top: 10px;">
        <tr>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">(Thousands of dollars, except per share data)</th>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">2024</th>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">2023</th>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Net sales</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 167,117</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 145,603</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Cost of products sold</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 111,488</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 97,503</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">GROSS PROFIT</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 55,629</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 48,100</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Costs and expenses</td>
            <td style="border: 1px solid #ccc; padding: 8px;"></td>
            <td style="border: 1px solid #ccc; padding: 8px;"></td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Selling</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 12,576</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 12,945</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">General and administrative</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 19,205</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 20,019</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Research and engineering</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 5,589</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 5,688</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Other operating expense, net</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 746</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 2,502</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">Total Costs and Expenses</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 38,116</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 41,154</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">OPERATING INCOME</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 17,513</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 6,946</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Other income (expense)</td>
            <td style="border: 1px solid #ccc; padding: 8px;"></td>
            <td style="border: 1px solid #ccc; padding: 8px;"></td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Interest income</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 717</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 610</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Interest expense</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$(381)</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$(707)</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Other (expense) income, net</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$(528)</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 119</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">INCOME BEFORE INCOME TAXES</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 17,321</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 6,968</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Income tax expense</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 6,876</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 659</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">NET INCOME</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 10,445</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 6,309</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Net loss (income) attributable to noncontrolling interests</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 7</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 23</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">NET INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 10,452</td>
            <td style="border: 1px solid #ccc; padding: 8px; font-weight: bold;">$ 6,332</td>
        </tr>
    </table>

    <h2 style="font-size: 20px; color: #2980b9;">EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS:</h2>
    
    <table style="border-collapse: collapse; width: 100%; margin-top: 10px;">
        <tr>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">Measure</th>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">2024</th>
            <th style="border: 1px solid #ccc; padding: 8px; background-color: #f2f2f2;">2023</th>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Basic</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 2.13</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 1.30</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Diluted</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 2.13</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 1.29</td>
        </tr>
        <tr>
            <td style="border: 1px solid #ccc; padding: 8px;">Cash dividends declared per share</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 0.20</td>
            <td style="border: 1px solid #ccc; padding: 8px;">$ 0.20</td>
        </tr>
    </table>

    <p style="margin-top: 20px; font-size: 14px;">SOURCE Preformed Line Products</p>
</article>

PLPC's Q4 net sales rose 15% to $167.1 million.
Full year net sales declined 11% to $593.7 million.
Q4 net income increased to $10.5 million, up 67% from 2023.
International sales growth offset U.S. market weakness.
Management remains positive on future growth and product development.

PREFORMED LINE PRODUCTS ANNOUNCES FOURTH QUARTER 2024 FINANCIAL RESULTS

Information

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Earnings

Related News