Preformed Line Products Q2 revenue jumps 25% to record high on energy demand - PLPC News | RalliesPreformed Line Products Q2 revenue jumps 25% to record high on energy demand
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PLPC• Outlook
- The company did not provide specific financial guidance for the current quarter or full year.
Analyst coverage
- The one available analyst rating on the shares is "hold."
- The average consensus recommendation for the electrical components & equipment peer group is "buy."
- Wall Street's median 12-month price target for Preformed Line Products Co is $372.00, about 25.2% above its July 28 closing price of $297.11.
- The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 26 three months ago.
Quarterly results
- US energy and communications hardware maker's Q2 revenue rose 25% yr/yr to a record high.
- Diluted EPS for Q2 jumped 75% yr/yr to $4.49, also a record.
- Growth was driven by robust energy market demand, improved margins, and the recent Delta Star acquisition.
Result drivers and key details
- Energy market demand - Co said strong demand in energy markets, especially in the U.S., drove sales growth.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Revenue | Beat | $212.68 mln | $193 mln (1 Analyst) |
| Q2 EPS | | $4.49 | |
| Q2 Net Income | | $21.51 mln | |
| Q2 Gross Profit | | $73.01 mln | |
| Q2 Operating income | | $27.90 mln | |
| Q2 Pretax Profit | | $28.45 mln | |
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