Core Viewpoint - Preformed Line Products Company (PLPC) faced significant challenges in the third quarter of 2024, primarily due to decreased demand in key segments, particularly in the U.S. market, despite some revenue growth in international regions like EMEA and Asia-Pacific [1][2] Financial Performance - PLPC reported basic earnings per share of $1.57, a decline of 49% from $3.08 in the same quarter of 2023 [2] - Net sales totaled $146.97 million, an 8% decrease from $160.44 million in the prior-year quarter [2] - Gross profit was $45.78 million, down 15% from $54.14 million in the third quarter of 2023, with the gross profit margin narrowing from 33.7% to 31.1% [6] Segmental Performance - PLP-USA experienced a 20% year-over-year decline in net sales to $65.55 million, driven by lower demand for communications and energy products [3] - The Americas saw a 6% decrease in sales to $19.85 million, also due to weaker demand for energy products [3] - EMEA reported a 12% increase in net sales to $32.94 million, supported by higher energy product sales [4] - The Asia-Pacific region improved by 5% year over year to $28.63 million, attributed to stronger demand for energy products [4] Cost Structure - The cost of products sold decreased by 5% to $101.2 million from $106.3 million in the prior-year quarter [7] - Operating expenses rose by 4% to $35.39 million from $34.06 million in the previous year [7] Cash, Debt & Capital Expenditure - Cash and cash equivalents were reported at $47.5 million, down from $53.6 million at the end of 2023 [8] - Total debt decreased to $35.2 million from $55.3 million at the end of 2023, with a debt-to-equity ratio of 8.2% [8] - Capital expenditure for the first nine months of 2024 was $11.2 million, significantly lower than $27.1 million in the prior-year period [9] Management Perspective - Management expressed concerns over slow demand recovery, particularly in the PLP-USA segment, and emphasized strategic adjustments, including cost controls and geographical diversification, to navigate the challenging environment [10] Other Developments - In February 2023, PLPC acquired Pilot Plastics to enhance its manufacturing capabilities in the U.S., which is expected to strengthen domestic production [11]

Financial Performance - Net sales for Q3 2024 were $147.0 million, a decrease of $13.5 million, or 8%, compared to Q3 2023[56] - Gross profit for Q3 2024 was $45.8 million, a decrease of $8.4 million, or 15%, compared to Q3 2023[62] - Operating income for Q3 2024 was $10.4 million, a decrease of $9.7 million, or 48%, compared to Q3 2023[59] - Net income attributable to Preformed Line Products Company shareholders for Q3 2024 was $7.7 million, a decrease of $7.5 million, or 49%, compared to Q3 2023[59] - Net income for the three months ended September 30, 2024, was $7.7 million, down from $15.1 million in 2023, representing a decrease of $7.4 million, or 48%[65] - Net sales for the nine months ended September 30, 2024, were $426.6 million, a decrease of $97.5 million, or 19%, compared to $524.1 million in 2023[68] - Gross profit for the nine months ended September 30, 2024, was $134.2 million, a decrease of $52.6 million, or 28%, compared to $186.7 million in 2023[71] - Consolidated operating income for the nine months ended September 30, 2024, was $33.2 million, a decrease of $43.9 million, or 57%, compared to $77.2 million in 2023[68] - Consolidated net income for the nine months ended September 30, 2024, was $26.6 million, a decrease of $30.4 million, or 53%, compared to $57.0 million in 2023[73] Segment Performance - PLP-USA segment net sales decreased by $16.2 million, or 20%, primarily due to lower volumes in communications and energy product sales[61] - EMEA segment net sales increased by $3.6 million, or 12%, primarily due to higher volume in energy product sales[61] - Asia-Pacific segment net sales increased by $1.2 million, or 5%, driven by higher volumes in energy product sales[61] - The Americas net sales decreased by $5.5 million, or 8%, primarily due to lower volumes in communications and energy product sales[69] - PLP-USA's net income for the three months ended September 30, 2024, was $3.1 million, a decrease of $6.0 million, or 66%, compared to $9.1 million in 2023[65] Costs and Expenses - Costs and expenses for Q3 2024 were $35.4 million, an increase of $1.3 million compared to Q3 2023[59] - For the three months ended September 30, 2024, total costs and expenses were $35.4 million, an increase of $1.3 million, or 4%, compared to 2023[64] - EMEA's costs and expenses increased by $1.4 million to $7.2 million for the three months ended September 30, 2024, primarily due to increased selling and administrative costs[64] - Asia-Pacific's costs and expenses increased by $2.5 million to $5.8 million, primarily due to a one-time gain of $2.5 million on the sale of capital assets in the third quarter of 2023[64] - PLP-USA costs and expenses decreased by $7.1 million, or 12%, year-over-year, primarily due to lower selling costs and cost containment efforts[72] - Asia-Pacific segment costs increased by $1.2 million, or 8%, primarily due to the net impact of the sale of capital assets year over year[72] - The Americas costs decreased by $1.7 million, primarily due to a one-time legal settlement in Q3 2023[72] - EMEA costs decreased by $0.7 million, primarily due to lower personnel costs and bad debt expenses[72] Tax and Income - The effective tax rate for the three months ended September 30, 2024, was 26%, up from 23% in 2023, mainly due to limitations on the deductibility of compensation[64] - Income taxes for the nine months ended September 30, 2024, were $6.8 million, with an effective tax rate of 20%, down from 24% in 2023[72] Cash Flow and Debt - Net cash provided by operating activities decreased by $45.0 million to $43.4 million for the nine months ended September 30, 2024, compared to $88.4 million in the prior year[76] - Total debt at September 30, 2024, was $35.2 million, with unused availability under the credit facility at $77.2 million[75] - Cash, cash equivalents, and restricted cash totaled $47.5 million at the end of the nine months ended September 30, 2024[75] Market and Operational Risks - The Company operates globally with manufacturing facilities and offices, utilizing both fixed and floating rate debt for financing[79] - The Company is exposed to business risks from non-U.S. activities, including political and economic uncertainty, import/export limitations, and market risks from interest rate and foreign currency fluctuations[79] - The Company believes that its international operations' political and economic risks are mitigated by geographic diversity[79] - There have been no material changes in the Company's exposure to market risk since December 31, 2023[79]

CLEVELAND, June 19, 2024 /PRNewswire/ -- The Board of Directors of Preformed Line Products (Nasdaq: PLPC) on June 19, 2024, declared a regular quarterly dividend in the amount of $.20 per share on the Company's common shares, payable July 19, 2024, to shareholders of record at the close of business on July 1, 2024. 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 ...

Zacks Investment Research has recently initiated the coverage of Preformed Line Products Company (PLPC) , a stalwart in the construction and maintenance of infrastructure for the energy and telecommunications sectors. With a "Neutral" rating, our comprehensive report digs into various facets that make PLPC a notable player in its field, yet cautionary tales abound, given the recent market challenges. Founded in 1947 and headquartered in Mayfield Village, OH, PLPC has grown into a global powerhouse. The comp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal quarter ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 for the Transition Period From ________To _______ Commission file number 0-31164 Preformed Line Products Company (Exact name of registrant as specified in its charter) | Ohio | | 34-0676895 | ...

Exhibit 99.1 PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS CLEVELAND, OHIO – MAY 1, 2024 - Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its first quarter of 2024. Net sales in the first quarter of 2024 were $140.9 million compared to $181.8 million in the first quarter of 2023, a 22% decrease due primarily to a slowdown in spending within the communications end market. Foreign currency translation increased first quarter 2024 net sales by $0.7 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 for the Transition Period From ________To _______ Commission file number 0-31164 Preformed Line Products Company (Exact name of registrant as specified in its charter) | Ohio | 34-0676895 | | -- ...

Exhibit 99.1 PREFORMED LINE PRODUCTS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS CLEVELAND, OHIO – MARCH 7, 2024 - Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its fourth quarter and full year ended December 31, 2023. Full Year 2023 Highlights: Net sales in the fourth quarter of 2023 were $145.6 million compared to $169.9 million in the fourth quarter of 2022, a 14% decrease due primarily to a reduction in communication product sales as the market rem ...

Financial Performance - Net sales for Q3 2023 were $160.4 million, a decrease of $5.0 million or 3% year-over-year, while net sales for the nine months ended September 30, 2023, increased by $57.0 million to $524.1 million[97]. - Gross profit for Q3 2023 was $54.1 million, a decrease of $4.2 million or 7% compared to Q3 2022, with a gross profit margin of 33.7%[101]. - Net income for Q3 2023 was $15.1 million, an increase of $3.2 million or 28% compared to $11.9 million in Q3 2022, with a $3.4 million increase when excluding currency translation effects[110]. - Net sales for the nine months ended September 30, 2023, were $524.1 million, an increase of $57.0 million or 12% compared to the same period in 2022, with a 13% increase when excluding currency translation effects[112]. - Gross profit for the nine months ended September 30, 2023, was $186.7 million, an increase of $33.8 million or 22% compared to 2022, with a 23% increase when excluding currency translation effects[115]. - Net income for the nine months ended September 30, 2023 was $57.0 million, a 52% increase from $37.9 million in 2022[119]. Sales Performance by Segment - PLP-USA segment experienced a net sales decrease of $7.2 million or 8% due to lower communication sales volumes, partially offset by previous price increases[103]. - The Americas segment reported a net sales decrease of $1.1 million or 4%, primarily due to lower communication and energy product sales[103]. - EMEA segment net sales decreased by $4.2 million or 14%, mainly due to lower communication sales volumes[103]. - Asia-Pacific segment net sales increased by $6.1 million or 28%, driven by higher sales volumes in energy products[103]. - PLP-USA net sales increased by $27.6 million or 11% for the nine months ended September 30, 2023, primarily due to volume increases in energy products and previous price increases[113]. - EMEA net sales increased by $14.0 million or 15% for the nine months ended September 30, 2023, driven by volume increases in communication and energy product sales[114]. - Asia-Pacific net sales increased by $17.0 million or 27% for the nine months ended September 30, 2023, primarily due to volume increases in energy products and special industries sales[114]. Costs and Expenses - Costs and expenses for Q3 2023 were $34.1 million, a decrease of $7.0 million or 17% compared to Q3 2022, with an 18% decrease when excluding currency translation effects[105]. - Costs and expenses in the Asia-Pacific region decreased by $8.3 million, primarily due to a one-time $6.5 million goodwill impairment charge recorded in 2022 that did not recur[105]. - Costs and expenses for the nine months ended September 30, 2023 were $109.5 million, an increase of $1.4 million or 1% compared to 2022[116]. - PLP-USA costs and expenses increased by $6.0 million or 11% year-over-year, primarily due to increased salary-related and insurance costs[116]. - Other expense, net for Q3 2023 was $0.5 million, unfavorable by $0.7 million compared to other income of $0.2 million in Q3 2022, primarily due to increased interest expense[106]. - Other expense, net for the nine months ended September 30, 2023 was $1.8 million, unfavorable by $6.6 million compared to the prior year[117]. Liquidity and Capital Expenditures - The company’s liquidity remains strong with a bank debt to equity ratio of 15.7%[99]. - Net cash provided by operating activities for the nine months ended September 30, 2023 was $88.4 million, compared to $9.2 million in the prior year[127]. - Total debt at September 30, 2023 was $62.8 million, with unused availability under the credit facility at $60.0 million[123]. - The Company used $27.1 million for capital expenditures and $12.1 million for a business acquisition during the first nine months of 2023[122]. - The Company expects future operating cash flows to cover debt repayments and capital expenditures for the next 12 months[126]. - The Company has long-term borrowings of $31.9 million as of September 30, 2023, with a potential interest expense increase of approximately $0.2 million for a 100-basis point rise in interest rates[140]. Market and Operational Strategy - The company continues to invest in expanding into new markets, improving efficiency, and developing new products[99]. - The company is assessing global market opportunities and manufacturing capacity to enhance service to U.S. customers[99]. - The Company aims to develop proprietary technology and maintain high-quality products to meet new industry performance standards[139]. - The Company is focused on strengthening customer relationships and expanding sales in targeted accounts and geographically[139]. - The Company is committed to identifying and integrating acquisitions for profitable growth[139]. Risks and Challenges - The Company is exposed to market risks including fluctuations in interest rates and foreign exchange rates due to operations in various foreign currencies[139]. - The Company faces risks related to the cost, availability, and quality of raw materials, which may be affected by tariffs and supply chain disruptions due to the COVID-19 pandemic[139]. - The Company is evaluating the effects of currency exchange rate fluctuations on its foreign subsidiaries' operations and reported results[139]. - The Company is monitoring the impact of competitive price pressure on its products[139]. - The Company is addressing potential disruptions to its information technology structure and the implications of significant government regulations[139]. - The Company is assessing the impact of the U.S. Inflation Reduction Act on its federal corporate income tax rate and potential tax credits from foreign income[139].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal quarter ended June 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 for the Transition Period From ________To _______ Commission file number 0-31164 Preformed Line Products Company (Exact name of registrant as specified in its charter) | Ohio | | 34-0676895 | ...