Company: PLPC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000080035-25-000013
Chunk: 27

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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$(533)$(27)$(4,929)$(250)

While uncertainty remains in the global economy due to tariffs and trade matters, we believe our business portfolio, including our significant U.S. manufacturing footprint, as well as our financial position, are sound and strategically well-positioned. We remain focused on assessing our global market opportunities and overall manufacturing capacity in conjunction with the requirements of local manufacturing in the markets that we serve. As necessary, we will modify redundant processes and further utilize our global manufacturing network to manage costs, including tariff-related impacts, increase sales volume and deliver value to our customers. Period cost containment continues to be a priority for the Company in 2025, and we continue to monitor and control discretionary spending where necessary. We have continued to invest in the business to expand into new markets for the Company, evaluate strategic mergers and acquisitions, improve efficiency, develop new products and increase our capacity. As of June 30, 2025, our liquidity remains strong with our bank debt to equity percentage at 7.9%. We can borrow needed funds at a competitive interest rate under the Facility.

RESULTS OF OPERATIONS

The following table sets forth a summary of the Company’s Statements of Consolidated Income and the percentage of net sales for the three months ended June 30, 2025 and 2024. The Company’s past operating results are not necessarily indicative of future operating results.

Three Months Ended June 30,(Thousands of dollars)20252024ChangeNet sales$169,601 100.0 %$138,720 100.0 %$30,881 Cost of products sold114,202 67.3 94,447 68.1 19,755 GROSS PROFIT55,399 32.7 44,273 31.9 11,126 Costs and expenses38,275 22.6 32,981 23.8 5,294 OPERATING INCOME17,124 10.1 11,292 8.1 5,832 Other income (expense), net182 0.1 (131)(0.1)313 INCOME BEFORE INCOME TAXES17,306 10.2 11,161 8.0 6,145 Income taxes4,606 2.7 1,794 1.3 2,812 NET INCOME12,700 7.5 9,367 6.8 3,