Preformed Line Products Q3 revenue rises
PLPC•Preformed Line Products’ Q3 revenue rose 18% year over year to $209.5 million, below the $215 million consensus estimate. Gross margin increased 370 basis points to 33.4%, and diluted EPS rose 70% year over year when adjusted for pension plan charges.
1. Quarterly results
Preformed Line Products reported Q3 revenue of $209.5 million, up 18% year over year and below the $215 million estimate. Gross margin improved by 370 basis points to 33.4%. Diluted EPS was $3.56; adjusted for pension plan charges, it rose 70% year over year.
2. Sales drivers
PLP-USA sales benefited from growth in transmission and distribution markets. The Americas segment benefited from the Delta Star acquisition and higher communications volumes, while Asia-Pacific sales rose on higher energy volumes. The company did not provide specific financial guidance for upcoming quarters or the full year.
