Welcome to our dedicated page for Preformed Line news (Ticker: PLPC), a resource for investors and traders seeking the latest updates and insights on Preformed Line stock.
Preformed Line Products Company reports developments tied to engineered products and systems used in energy, telecommunications, cable, data communications, and other network infrastructure markets. Its updates commonly cover demand for products that support, protect, connect, terminate, and secure cables and wires, including helical solutions, connectors, splice closures, substation hardware, solar framing applications, and electric vehicle charging station foundations.
Company news also includes quarterly and annual operating results by regional segment, cash dividend actions, acquisition activity in substation and communications products, and technology collaborations for power-line construction. PLP serves public and private utilities, communications providers, cable operators, contractors, distributors, and value-added resellers across PLP-USA, the Americas, EMEA, and Asia-Pacific.
Preformed Line Products Company (NASDAQ: PLPC) has acquired substantially all assets of Pilot Plastics, Inc. to enhance its injection molding capabilities. Founded in 2001, Pilot Plastics specializes in injection molding for various industries and has collaborated with PLP for over 15 years. This strategic acquisition is expected to support PLP's growth in the production of critical infrastructure components for high-speed broadband, including FTTH and 5G networks.
PLP plans to transition manufacturing to Pilot over the year, improving customer service and accelerating product development cycles.
On December 21, 2022, the Board of Directors of Preformed Line Products (Nasdaq: PLPC) declared a quarterly dividend of $.20 per share. This dividend will be paid on January 25, 2023, to shareholders recorded by the close of business on January 6, 2023. PLP operates globally, providing precision-engineered solutions for energy and communications sectors, ensuring stronger networks and reliable connections.
Preformed Line Products Company (NASDAQ: PLPC) announced Q3 2022 results, showcasing a record quarterly net sales of $165.4 million, up 22% year-over-year. Net income increased 11% to $11.9 million but included a $6.5 million non-cash goodwill impairment in the Asia-Pacific region. Adjusted net income, excluding this charge, was $18.4 million, a 72% rise from last year. Diluted EPS climbed to $2.36, marking a 10% increase. Despite currency translation having a negative impact, operational efficiencies and price increases supported gross margin improvement.
On October 17, 2022, Preformed Line Products Company (NASDAQ: PLPC) announced its acquisition of Delta Conectores, S.A. de C.V., enhancing its operational and technical capabilities in Mexico. Founded in 1979, Delta specializes in substation connector systems for high-voltage AC systems and is a market leader in its region. This strategic acquisition aims to expand PLP's substation product offerings, leveraging Delta's design expertise and boosting manufacturing capabilities in North America. Ryan Ruhlman, VP of Marketing, expressed excitement about integrating Delta's team into PLP.
The Board of Directors of Preformed Line Products (PLPC) declared a regular quarterly dividend of $.20 per share on September 13, 2022. This dividend is payable on October 20, 2022, to shareholders of record by the close of business on October 3, 2022. With operations in over 20 countries, PLP focuses on providing precision-engineered solutions for energy and communications sectors to ensure reliable network connections.
Preformed Line Products Company (NASDAQ: PLPC) reported record financial results for Q2 2022, achieving net sales of $163.5 million, up 23% from Q2 2021. Diluted EPS rose to $2.77, a 54% increase year-over-year. The first half of 2022 saw net sales increase by 20% to $301.7 million, with net income rising to $26.0 million, or $5.25 per diluted share. The company attributed success to strong sales in energy and communications sectors and price adjustments to combat inflation. However, currency fluctuations negatively impacted sales by $5.5 million in Q2.
The Board of Directors of Preformed Line Products (PLPC) declared a quarterly dividend of $.20 per share on June 15, 2022. This dividend is payable on July 20, 2022, to shareholders on record as of the close of business on July 1, 2022. The company emphasizes its commitment to protecting critical connections through precision-engineered solutions, serving energy and communications providers across over 20 countries.
Preformed Line Products Company (PLPC) reported strong Q1 2022 results, with net sales increasing by 18% to $138.2 million from $117.6 million in Q1 2021. The diluted EPS surged 72% to $2.49, reflecting a net income of $12.3 million. The results were impacted by a $4.4 million gain from life insurance and a $1.0 million charge for winding down operations in Russia, alongside unfavorable currency translation effects of $2.5 million. While inflation is influencing costs, strong volume growth driven by acquisitions has been beneficial.
The Board of Directors of Preformed Line Products (Nasdaq: PLPC) declared a quarterly dividend of $.20 per share on March 28, 2022. The dividend is payable on April 20, 2022, to shareholders on record by April 8, 2022. This reflects the company's ongoing commitment to returning value to its shareholders. With operations in over 20 countries, PLP is recognized for delivering reliable solutions for energy and communications networks globally.
Preformed Line Products Company (NASDAQ: PLPC) reported record fourth quarter sales of $131.4 million for 2021, a 10.9% increase from $118.5 million in Q4 2020. Net income surged to $9.0 million ($1.79 per diluted share) from $2.7 million ($0.53 per diluted share) year-over-year. For the full year, net sales reached $517.4 million, marking a third consecutive year of record sales, while net income increased to $35.7 million ($7.19 per diluted share). Challenges from rising raw material costs and the COVID-19 pandemic persist, prompting announced price increases to counteract inflation.