Company: PLPC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000080035-25-000022
Chunk: 33

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 tax rate for the three months ended September 30, 2025 and 2024 was (11)% and 26%, respectively. The lower effective tax rates for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 was due the decrease in income before income taxes attributable to the pension termination charges recorded in the third quarter of 2025 and a discrete tax benefit recorded related to the release of amounts in OCI attributed to the pension termination.

Net income. As a result of the preceding items, net income for the three months ended September 30, 2025 was $2.6 million, compared to $7.7 million for 2024. Excluding the effect of currency translation, net income decreased $5.3 million as summarized in the following table. The decrease in net income was due to the pension termination charge recorded in the third quarter of 2025, offset by increases in operating income described above:

Three Months Ended September 30,(Thousands of dollars)20252024ChangeChange Due to Currency Translation Change Excluding Currency Translation % Change Net income (loss)PLP-USA$(1,684)$3,059 $(4,743)$— $(4,743)(155)%The Americas1,455 1,574 (119)3 (122)(8)%EMEA2,987 1,337 1,650 111 1,539 115 %Asia-Pacific(132)1,710 (1,842)143 (1,985)(116)%Consolidated$2,626 $7,680 $(5,054)$257 $(5,311)(69)%

NINE MONTHS ENDED SEPTEMBER 30, 2025 COMPARED TO NINE MONTHS ENDED SEPTEMBER 30, 2024

The following table sets forth a summary of the Company’s Statements of Consolidated Income and the percentage of net sales for the nine months ended September 30, 2025 and 2024. The Company’s past operating results are not necessarily indicative of future operating results.Nine Months Ended September 30,(Thousands of dollars)20252024Change Net sales$496,229 100.0 %$426,597 100.0 %$69,632 Cost of products sold339,310 68.4 292,415 68.5 46,895 GROSS PROFIT156