Company: PLPC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021769
Chunk: 2

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 2
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Net Income(Thousands of dollars)2025202420252024The Americas$(3,204)$805 $(206)$33 EMEA(440)788 30 39 Asia-Pacific(751)(844)(47)(73)Total$(4,395)$749 $(223)$(1)

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 and 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 March 31, 2025, our liquidity remains strong with our bank debt to equity percentage at 8.0%. 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 March 31, 2025 and 2024. The Company’s past operating results are not necessarily indicative of future operating results.

Three Months Ended March 31,(Thousands of dollars)20252024Net sales$148,541 100.0 %$140,904 100.0 %$7,637 Cost of products sold99,870 67.2 96,773 68.7 3,097 GROSS PROFIT48,671 32.8 44,131 31.3 4,540 Costs and expenses35,541 23.9 32,572 23.1 2,969 OPERATING INCOME13,130 8.8 11,559 8.2 1,571 Other income, net541 0.4 299 0.2 242 INCOME BEFORE INCOME TAXES13,671 9.2 11,858 8.4 1,813 Income taxes