Preformed Line Products Company【PLPC】株式ニュース

PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTSApril 29, 2026 4:15 PM
PR Newswire (US)

CLEVELAND, April 29, 2026 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its first quarter of 2026.

Q1 2026 highlights:Quarterly net sales of $176.3 million, an increase of 19% from Q1 2025.USA sales growth of 26% from Q1 2025, driven by robust demand in energy and communications markets.Gross profit margin of 31.3%, up 150 basis points from Q4 2025.Diluted EPS of $2.14 per share, up 24% from Q4 2025.Net sales in the first quarter of 2026 were $176.3 million compared to $148.5 million in the first quarter of 2025, a 19% increase. All segments recorded sales growth compared to the first quarter of 2025, with the PLP-USA business growing by 26%, primarily due to higher demand for energy and communications products. Foreign currency translation had a favorable impact of $7.2 million on the first quarter of 2026 net sales.Net income for the quarter ended March 31, 2026, was $10.5 million, or $2.14 per diluted share, compared to $11.5 million, or $2.33 per diluted share, for the comparable period in 2025. While gross profit was up approximately $6.5 million from Q1 2025, period expenses were impacted by increased personnel costs supporting strategic market growth in core product offerings in both energy and communications, primarily for sales, sales support and engineering resources. Net income for the first quarter of 2026 was affected by an income tax charge of $1.3 million related to PLP's French subsidiary. Foreign currency translation had a favorable impact of $0.1 million on the first quarter of 2026 net income. Compared against Q4 2025, which contained many of the same tariff headwinds that impacted Q1 2025, gross profit margins, net income, and diluted EPS all increased."As we reflect on the first quarter of 2026, I am proud of the Company's continued resilience in a challenging and dynamic global environment," said Rob Ruhlman, Executive Chairman. "Our team achieved exceptional sales growth this quarter, propelled by outstanding results from our U.S. manufacturing operations and our ability to meet rising demand. We faced margin pressure from higher manufacturing and ongoing tariff-related costs, as well as volatility in commodity prices. However, our impressive 150 basis point increase in gross profit percentage from Q4 2025 shows that we are actively managing these challenges through supply chain optimization, pricing strategies, and investment in efficiency and innovation. Our healthy balance sheet and strong liquidity provide flexibility to pursue strategic acquisitions, while also investing in facility modernization and returning capital to our valued shareholders. While the ongoing tariff and geopolitical uncertainties present challenges, I believe our team is well prepared to adapt. Our focus is unchanged: provide our customers with the high-quality products and superior customer service they have come to expect from PLP."A presentation on first quarter results will also be available on PLP's website at www.plp.com/investor-relations. FORWARD-LOOKING STATEMENTSThis 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, international hostilities, political instability, exchange rates, natural disasters and health epidemics, the strength of demand and availability of funding for the Company's products (including in light of price increases) 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 and customer demand, 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 2025 Annual Report on Form 10-K filed with the SEC on March 5, 2026 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 PLPPLP 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 COMPANY (PLPC)CONSOLIDATED BALANCE SHEET
March 31, 2026
December 31, 2025(Thousands of dollars, except share and per share data)(Unaudited)

ASSETS

Cash, cash equivalents and restricted cash$                69,452
$                83,389Accounts receivable, net130,840
113,175Inventories, net151,810
148,730Prepaid expenses12,998
12,961Other current assets6,287
5,206TOTAL CURRENT ASSETS371,387
363,461Property, plant and equipment, net225,279
222,781Goodwill30,351
30,684Other intangible assets, net9,837
10,140Deferred income taxes6,794
7,481Other assets18,181
19,074TOTAL ASSETS$               661,829
$               653,621LIABILITIES AND SHAREHOLDERS' EQUITY

Trade accounts payable$                56,766
$                49,520Notes payable to banks1,318
1,213Current portion of long-term debt5,891
5,392Accrued compensation and other benefits24,084
29,207Accrued expenses and other liabilities35,532
29,378TOTAL CURRENT LIABILITIES123,591
114,710Long-term debt, less current portion34,737
32,860Other noncurrent liabilities and deferred income taxes29,919
30,500SHAREHOLDERS' EQUITY

Common shares $2 par value per share, 15,000,000 shares authorized, 4,888,012 and 4,907,787 issued and outstanding, at March 31, 2026 and December 31, 202513,890
13,860Common shares issued to rabbi trust, 222,506 and 222,506 shares at March 31, 2026 and December 31, 2025, respectively(9,586)
(9,586)Deferred compensation liability9,586
9,586Paid-in capital66,047
67,217Retained earnings593,869
584,360Treasury shares, at cost, 2,056,379 and 2,021,940 shares at March 31, 2026 and December 31, 2025, respectively(145,492)
(136,554)Accumulated other comprehensive loss(54,790)
(53,365)TOTAL PLPC SHAREHOLDERS' EQUITY473,524
475,518Noncontrolling interest58
33TOTAL SHAREHOLDERS' EQUITY473,582
475,551TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY$               661,829
$               653,621 PREFORMED LINE PRODUCTS COMPANYSTATEMENTS OF CONSOLIDATED INCOME
Three Months Ended March 31,
2026
2025(Thousands, except per share data)(Unaudited)

Net sales$               176,278
$               148,541Cost of products sold121,058
99,870GROSS PROFIT55,220
48,671Costs and expenses

Selling13,769
12,181General and administrative21,053
17,626Research and engineering6,736
5,479Other operating (income) expense, net(54)
255
41,504
35,541OPERATING INCOME13,716
13,130Other income (expense)

Interest income777
510Interest expense(232)
(376)Other income, net69
407
614
541INCOME BEFORE INCOME TAXES14,330
13,671Income tax expense3,781
2,118NET INCOME$                10,549
$                11,553Net loss (income) attributable to noncontrolling interests(25)
(36)NET INCOME ATTRIBUTABLE TO PLPC SHAREHOLDERS$                10,524
$                11,517AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:

Basic4,906
4,928Diluted4,927
4,950EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC SHAREHOLDERS:

Basic$                   2.15
$                   2.34Diluted$                   2.14
$                   2.33

Cash dividends declared per share$                   0.21
$                   0.20

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Original: PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS

PREFORMED LINE PRODUCTS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTSMarch 4, 2026 4:15 PM
PR Newswire (US)

CLEVELAND, March 4, 2026 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its fourth quarter of 2025 and full year ended December 31, 2025.

Q4/Full Year 2025 highlights:Quarterly net sales of $173.1 million, an increase of 4% from Q4 2024Annual net sales growth of 13% from 2024, totaling $669.3 millionFull year diluted EPS of $7.14; adjusted full year diluted EPS of $8.70, a 16% increase from 2024Backlog increased 22% to $232.8 million, reflecting robust demand in core marketsQuarterly dividend increased 5% to $0.21 per shareNet sales in the fourth quarter of 2025 were $173.1 million compared to $167.1 million in the fourth quarter of 2024, a 4% increase. PLP-USA continued its strong 2025 performance with both energy and communications end-market sales contributing to the increase. The international segments were bolstered by sales increases in Asia-Pacific as well as incremental communications market sales from the recently acquired JAP Telecom. Foreign currency translation increased fourth quarter 2025 net sales by $4.4 million.Net income for the quarter ended December 31, 2025, was $8.4 million, or $1.72 per diluted share, compared to $10.5 million, or $2.13 per diluted share, for the comparable period in 2024. The fourth quarter of 2025 net income was impacted by the continuing tariffs affecting goods sourced internationally by PLP-USA and the tariff-related acceleration of Last-In-First-Out ("LIFO") inventory valuation costs. These costs were partially offset by margin contribution from higher sales levels and selling price increases, higher net interest income and a lower effective tax rate.Net sales increased 13% to $669.3 million for the full year 2025 compared to $593.7 million in 2024. All segments realized a year-over-year increase in net sales due to higher volumes of energy and communications end-market sales. Foreign currency translation rates increased net sales by $1.4 million for the year ended December 31, 2025.Net income for the year ended December 31, 2025, was $35.3 million, or $7.14 per diluted share, compared to $37.1 million, or $7.50 per diluted share, for the comparable period in 2024. Excluding the impact from the pension termination completed in the third quarter of 2025, adjusted net income for the twelve-month period ending December 31, 2025 was $43.0 million, or $8.70 per diluted share, a 16% increase. In addition to the pension termination charge, net income for the twelve-month period ending December 31, 2025 was impacted by the continuing tariffs and the tariff-related acceleration of LIFO inventory valuation costs, offset by margin contribution from higher sales, selling price increases, higher net interest income and a lower effective tax rate."Our 2025 results reflect the strength of our core energy and communications markets and the resilience of our global operations," said Rob Ruhlman, Executive Chairman. "The significant increase in backlog and sales demonstrates robust demand. We have incurred cost increases on key commodity inputs necessary for our USA production process, primarily due to Section 232 steel and aluminum tariffs. Given the significance of these tariff headwinds on our business, I am pleased with our execution and fourth quarter results. While we have benefited from selling price increases enacted earlier this year, we continue to monitor whether further price adjustments are necessary. The increase in our quarterly dividend underscores our commitment to delivering value to shareholders. We expect that our strong cash generation will continue to allow us to invest in new product development, facility modernization, and strategic acquisitions to support long-term growth. I look forward to our new state-of-the-art Poland facility coming online later in 2026 and the contributions from our new facility in Spain. Our focus is unchanged: provide our customers with the high-quality products and superior customer service they have come to expect from PLP."A presentation on fourth quarter results will also be available on PLP's website at www.plp.com/investor-relations.FORWARD-LOOKING STATEMENTSThis 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, international hostilities, political instability, exchange rates, natural disasters and health epidemics, the strength of demand and availability of funding for the Company's products (including in light of price increases) 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, 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 2024 Annual Report on Form 10-K filed with the SEC on March 13, 2025 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 PLPPLP 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 COMPANY (PLPC)CONSOLIDATED BALANCE SHEET

December 31, 2025
December 31, 2024(Thousands of dollars, except share and per share data)(Unaudited)

ASSETS

Cash, cash equivalents and restricted cash$                         83,389
$                         57,244Accounts receivable, net113,175
111,402Inventories, net148,730
129,913Prepaid expenses12,961
11,720Other current assets5,206
5,514TOTAL CURRENT ASSETS363,461
315,793Property, plant and equipment, net222,781
195,086Goodwill30,684
26,685Other intangible assets, net10,140
9,656Deferred income taxes7,481
6,546Other assets19,074
20,111TOTAL ASSETS$                       653,621
$                       573,877LIABILITIES AND SHAREHOLDERS' EQUITY

Trade accounts payable$                         49,520
$                         41,951Notes payable to banks1,213
7,782Current portion of long-term debt5,392
2,430Accrued compensation and other benefits29,207
25,904Accrued expenses and other liabilities29,378
30,346TOTAL CURRENT LIABILITIES114,710
108,413Long-term debt, less current portion32,860
18,357Other noncurrent liabilities and deferred income taxes30,500
24,783SHAREHOLDERS' EQUITY

Common shares $2 par value per share, 15,000,000 shares authorized, 4,907,787
and 4,913,621 issued and outstanding, at December 31, 2025 and December 31,
202413,860
13,752Common shares issued to rabbi trust, 222,506 and 222,887 shares at December 31,
2025 and December 31, 2024, respectively(9,586)
(9,575)Deferred compensation liability9,586
9,575Paid-in capital67,217
65,093Retained earnings584,360
553,179Treasury shares, at cost, 2,021,940 and 1,961,772 shares at December 31, 2025 and
December 31, 2024, respectively(136,554)
(126,800)Accumulated other comprehensive loss(53,365)
(82,909)TOTAL PLPC SHAREHOLDERS' EQUITY475,518
422,315Noncontrolling interest33
9TOTAL SHAREHOLDERS' EQUITY475,551
422,324TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY$                       653,621
$                       573,877 PREFORMED LINE PRODUCTS COMPANYSTATEMENTS OF CONSOLIDATED INCOME

Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024(Thousands, except per share data)(Unaudited)

(Unaudited)

Net sales$                 173,109
$                 167,117
$                 669,338
$                 593,714Cost of products sold121,489
111,488
460,799
403,903GROSS PROFIT51,620
55,629
208,539
189,811Costs and expenses

Selling13,486
12,576
52,011
48,722General and administrative19,736
19,205
75,176
67,477Research and engineering6,331
5,589
23,687
21,923Other operating expense, net318
746
2,530
932
39,871
38,116
153,404
139,054OPERATING INCOME11,749
17,513
55,135
50,757Other income (expense)

Interest income740
717
2,317
2,573Interest expense(297)
(381)
(1,303)
(2,221)Pension termination expense—
—
(11,657)
—Other income (expense), net95
(528)
1,128
(339)
538
(192)
(9,515)
13INCOME BEFORE INCOME TAXES12,287
17,321
45,620
50,770Income tax expense3,852
6,876
10,313
13,659NET INCOME$                     8,435
$                   10,445
$                   35,307
$                   37,111Net loss (income) attributable to noncontrolling
interests—
7
(24)
(17)NET INCOME ATTRIBUTABLE TO PLPC
SHAREHOLDERS$                     8,435
$                   10,452
$                   35,283
$                   37,094AVERAGE NUMBER OF SHARES OF COMMON
STOCK OUTSTANDING:

Basic4,899
4,897
4,918
4,908Diluted4,913
4,917
4,942
4,947EARNINGS PER SHARE OF COMMON STOCK
ATTRIBUTABLE TO PLPC SHAREHOLDERS:

Basic$                       1.72
$                       2.14
$                       7.17
$                       7.56Diluted$                       1.72
$                       2.13
$                       7.14
$                       7.50

Cash dividends declared per share$                       0.21
$                       0.20
$                       0.81
$                       0.80NON-GAAP FINANCIAL INFORMATIONThis earnings release includes certain non-GAAP financial measures. These financial measures include adjusted earnings and adjusted earnings per basic and diluted share, each of which differs from the most directly comparable measure calculated in accordance with generally accepted accounting principles (GAAP). A reconciliation of each of these financial measures to the most directly comparable GAAP measure is included in this earnings release. Management believes that these financial measures are useful to investors because they provide additional meaningful financial information that should be considered when assessing our business performance and trends, and they allow investors to more easily compare the Company's financial performance period to period.The Company's adjusted net income and adjusted earnings per diluted share for the year ended December 31, 2025, was calculated as follows:

Year Ended
December 31, 2025(Thousands, except per share data)
(Unaudited)NET INCOME ATTRIBUTABLE TO PLPC SHAREHOLDERS
$                         35,283Add back:

Pension termination expense, after tax
7,721ADJUSTED NET INCOME ATTRIBUTABLE TO PLPC SHAREHOLDERS
$                         43,004AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:

Basic
4,918Diluted
4,942ADJUSTED EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC SHAREHOLDERS:

Basic
$                             8.74Diluted
$                             8.70

Year Ended
December 31, 2025

(Unaudited)ADJUSTED DILUTED EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC SHAREHOLDERS:

NET INCOME PER SHARE ATTRIBUTABLE TO PLPC SHAREHOLDERS
$                             7.14Add back:

Per share impact of pension termination expense, after tax
1.56ADJUSTED DILUTED EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC
SHAREHOLDERS
$                             8.70

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Original: PREFORMED LINE PRODUCTS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS