UFP Technologies Q3 revenue beats, partly on MedTech demand
UFPT•UFP Technologies reported Q3 revenue of $172.4 million, up about 12% year over year and above the $166.89 million analyst consensus. Adjusted EPS increased year over year, while gross margin rose to 29.4%.
1. Revenue and demand
Q3 sales grew 11.1% organically, reflecting broad-based demand across UFP Technologies’ portfolio. MedTech sales rose 12.5%, which CEO Mitch Rock attributed to broad-based demand.
2. Margins and outlook
Gross margin increased to 29.4%, with improvements in legacy operations and the scaling of new programs in the Dominican Republic. The company did not provide specific financial guidance for the current quarter or full year.
