PREFORMED LINE PRODUCTS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS
Rhea-AI Summary
Preformed Line Products (NASDAQ: PLPC) reported Q4 2025 net sales of $173.1M (+4% vs Q4 2024) and full-year net sales of $669.3M (+13% vs 2024).
Full-year diluted EPS was $7.14; adjusted diluted EPS was $8.70 (+16% vs 2024). Backlog rose 22% to $232.8M. Quarterly dividend increased 5% to $0.21 per share. Company cited tariffs and LIFO inventory effects partially offset by higher sales, price increases, interest income, and a lower tax rate.
Positive
- Full-year net sales +13% to $669.3M
- Adjusted diluted EPS +16% to $8.70
- Backlog +22% to $232.8M
- Quarterly dividend increased 5% to $0.21
Negative
- GAAP net income down to $35.3M from $37.1M
- Tariffs and tariff-related LIFO costs reduced quarterly profit
- Pension termination charge reduced reported 2025 net income
Market Reaction – PLPC
Following this news, PLPC has declined 8.33%, reflecting a notable negative market reaction. Our momentum scanner has triggered 4 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $234.30. This price movement has removed approximately $114M from the company's valuation.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
PLPC fell 2.94% while key peer AMPX gained 4.58% and others showed mixed moves, pointing to stock-specific trading around these results.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Oct 29 | Q3 2025 earnings | Positive | -6.7% | Strong Q3 sales and adjusted EPS growth despite pension and tariff impacts. |
| Jul 30 | Q2 2025 earnings | Positive | +9.8% | Net sales up 22% with higher margins and strong energy and communications demand. |
| May 01 | Q1 2025 earnings | Positive | +0.2% | Q1 sales and net income grew, supported by communications and international energy. |
| Mar 13 | Q4 2024 earnings | Neutral | +16.9% | Strong Q4 but weaker full-year 2024 vs 2023 and notable debt reduction. |
| Oct 30 | Q3 2024 earnings | Negative | -0.3% | Sales and earnings declined year-over-year amid end-market slowdown and destocking. |
Earnings releases typically show strong revenue growth but have produced mixed price reactions, with most moves aligning with the tone of results except one negative divergence on strong adjusted Q3 2025 numbers.
Over the past five earnings cycles from Q3 2024 through Q3 2025, PLPC moved from a challenging 2024, marked by lower sales and earnings, into a 2025 recovery with consistent year-over-year net sales growth. Earlier 2025 quarters highlighted strong adjusted profitability despite tariff and LIFO headwinds, while Q4 2024 showed robust quarter-level performance but weaker full-year comparisons. Today’s Q4/2025 release continues themes of energy and communications strength, persistent tariff pressures, and the use of adjusted metrics to highlight underlying earnings.
Historical Comparison
Recent earnings releases saw an average move of 3.95%, with mostly aligned reactions to revenue trends and tariff-related margin pressures highlighted in results.
Earnings have shown a transition from 2024’s weaker sales and earnings into 2025’s broad-based revenue growth, with recurring discussion of tariffs, LIFO costs, and the use of adjusted metrics to showcase underlying profitability.
Market Pulse Summary
The stock is down -8.3% following this news. A negative reaction despite revenue growth would fit prior instances where headline GAAP earnings pressure overshadowed strong adjusted metrics. Full-year sales of $669.3M and adjusted EPS of $8.70 contrasted with lower GAAP EPS of $7.14, reflecting tariffs and LIFO costs. Past earnings saw at least one sharp downside reaction to similar dynamics, so traders may focus on margin headwinds and pension-related adjustments even as backlog rose 22% to $232.8M.
AI-generated analysis. Not financial advice.
Q4/Full Year 2025 highlights:
- Quarterly net sales of
$173.1 million 4% from Q4 2024 - Annual net sales growth of
13% from 2024, totaling$669.3 million - Full year diluted EPS of
$7.14 $8.70 16% increase from 2024 - Backlog increased
22% to$232.8 million - Quarterly dividend increased
5% to$0.21
Net sales in the fourth quarter of 2025 were
Net income for the quarter ended December 31, 2025, was
Net sales increased
Net income for the year ended December 31, 2025, was
"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
A presentation on fourth quarter results will also be available on PLP's website at www.plp.com/investor-relations.
FORWARD-LOOKING STATEMENTS
This 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 PLP
PLP 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 | $ 57,244 | |
Accounts receivable, net | 113,175 | 111,402 | |
Inventories, net | 148,730 | 129,913 | |
Prepaid expenses | 12,961 | 11,720 | |
Other current assets | 5,206 | 5,514 | |
TOTAL CURRENT ASSETS | 363,461 | 315,793 | |
Property, plant and equipment, net | 222,781 | 195,086 | |
Goodwill | 30,684 | 26,685 | |
Other intangible assets, net | 10,140 | 9,656 | |
Deferred income taxes | 7,481 | 6,546 | |
Other assets | 19,074 | 20,111 | |
TOTAL ASSETS | $ 653,621 | $ 573,877 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Trade accounts payable | $ 49,520 | $ 41,951 | |
Notes payable to banks | 1,213 | 7,782 | |
Current portion of long-term debt | 5,392 | 2,430 | |
Accrued compensation and other benefits | 29,207 | 25,904 | |
Accrued expenses and other liabilities | 29,378 | 30,346 | |
TOTAL CURRENT LIABILITIES | 114,710 | 108,413 | |
Long-term debt, less current portion | 32,860 | 18,357 | |
Other noncurrent liabilities and deferred income taxes | 30,500 | 24,783 | |
SHAREHOLDERS' EQUITY | |||
Common shares | 13,860 | 13,752 | |
Common shares issued to rabbi trust, 222,506 and 222,887 shares at December 31, | (9,586) | (9,575) | |
Deferred compensation liability | 9,586 | 9,575 | |
Paid-in capital | 67,217 | 65,093 | |
Retained earnings | 584,360 | 553,179 | |
Treasury shares, at cost, 2,021,940 and 1,961,772 shares at December 31, 2025 and | (136,554) | (126,800) | |
Accumulated other comprehensive loss | (53,365) | (82,909) | |
TOTAL PLPC SHAREHOLDERS' EQUITY | 475,518 | 422,315 | |
Noncontrolling interest | 33 | 9 | |
TOTAL SHAREHOLDERS' EQUITY | 475,551 | 422,324 | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 653,621 | $ 573,877 | |
PREFORMED LINE PRODUCTS COMPANY STATEMENTS 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 | $ 593,714 | |||
Cost of products sold | 121,489 | 111,488 | 460,799 | 403,903 | |||
GROSS PROFIT | 51,620 | 55,629 | 208,539 | 189,811 | |||
Costs and expenses | |||||||
Selling | 13,486 | 12,576 | 52,011 | 48,722 | |||
General and administrative | 19,736 | 19,205 | 75,176 | 67,477 | |||
Research and engineering | 6,331 | 5,589 | 23,687 | 21,923 | |||
Other operating expense, net | 318 | 746 | 2,530 | 932 | |||
39,871 | 38,116 | 153,404 | 139,054 | ||||
OPERATING INCOME | 11,749 | 17,513 | 55,135 | 50,757 | |||
Other income (expense) | |||||||
Interest income | 740 | 717 | 2,317 | 2,573 | |||
Interest expense | (297) | (381) | (1,303) | (2,221) | |||
Pension termination expense | — | — | (11,657) | — | |||
Other income (expense), net | 95 | (528) | 1,128 | (339) | |||
538 | (192) | (9,515) | 13 | ||||
INCOME BEFORE INCOME TAXES | 12,287 | 17,321 | 45,620 | 50,770 | |||
Income tax expense | 3,852 | 6,876 | 10,313 | 13,659 | |||
NET INCOME | $ 8,435 | $ 10,445 | $ 35,307 | $ 37,111 | |||
Net loss (income) attributable to noncontrolling | — | 7 | (24) | (17) | |||
NET INCOME ATTRIBUTABLE TO PLPC | $ 8,435 | $ 10,452 | $ 35,283 | $ 37,094 | |||
AVERAGE NUMBER OF SHARES OF COMMON | |||||||
Basic | 4,899 | 4,897 | 4,918 | 4,908 | |||
Diluted | 4,913 | 4,917 | 4,942 | 4,947 | |||
EARNINGS PER SHARE OF COMMON STOCK | |||||||
Basic | $ 1.72 | $ 2.14 | $ 7.17 | $ 7.56 | |||
Diluted | $ 1.72 | $ 2.13 | $ 7.14 | $ 7.50 | |||
Cash dividends declared per share | $ 0.21 | $ 0.20 | $ 0.81 | $ 0.80 | |||
NON-GAAP FINANCIAL INFORMATION
This 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 | ||
(Thousands, except per share data) | (Unaudited) | |
NET INCOME ATTRIBUTABLE TO PLPC SHAREHOLDERS | $ 35,283 | |
Add back: | ||
Pension termination expense, after tax | 7,721 | |
ADJUSTED NET INCOME ATTRIBUTABLE TO PLPC SHAREHOLDERS | $ 43,004 | |
AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING: | ||
Basic | 4,918 | |
Diluted | 4,942 | |
ADJUSTED EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC SHAREHOLDERS: | ||
Basic | $ 8.74 | |
Diluted | $ 8.70 | |
Year Ended | ||
(Unaudited) | ||
ADJUSTED DILUTED EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC SHAREHOLDERS: | ||
NET INCOME PER SHARE ATTRIBUTABLE TO PLPC SHAREHOLDERS | $ 7.14 | |
Add back: | ||
Per share impact of pension termination expense, after tax | 1.56 | |
ADJUSTED DILUTED EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC | $ 8.70 |
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SOURCE Preformed Line Products Company
FAQ
What were PLPC's Q4 2025 and full-year 2025 net sales figures?
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