Core Insights - UFP Technologies, Inc. will participate in the CJS Securities 25th Annual "New Ideas for the New Year" Conference on January 14, 2025, with a presentation scheduled for 8:45 AM ET [1] Company Overview - UFP Technologies is a designer and custom manufacturer specializing in solutions for medical devices, sterile packaging, and highly engineered custom products [2] - The company plays a crucial role in the medical device supply chain and serves as a valued outsourcing partner for leading medical device manufacturers globally [2] - UFP's products include single-use and single-patient devices and components utilized in various medical applications such as minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods, and orthopedic implants [2]

Company Overview - UFP Technologies Inc is a designer and custom manufacturer of components, subassemblies, products, and packaging primarily for the medical market [1] - The company provides comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products [2] - UFP Technologies is an important link in the medical device supply chain and a valued outsourcing partner to many top medical device manufacturers worldwide [2] - The company's products include single-use and single-patient devices and components used in minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods, and orthopedic implants [2] Upcoming Event - UFP Technologies Chairman and CEO R Jeffrey Bailly and CFO Ron Lataille will participate in the CJS Securities 25 Annual "New Ideas for the New Year" Conference [1] - The virtual conference is scheduled for January 14, 2025 [1] - UFP's presentation is set to begin at 8:45 AM ET on January 14, 2025 [1]

UFP Packaging, LLC, an affiliate of UFP Industries, Inc. (UFPI) , has closed the acquisition of C&L Wood Products, Inc. based in in Hartselle, AL.The acquired manufacturer of pallets and mulch is set to complement UFP Packaging’s PalletOne business, especially boosting its market reach and customer base in Alabama. Notably, C&L reported a trailing 12-month sales of $24.8 million as of November 2024.Per the executive vice president of PalletOne, Justin Elwell, “The addition of C&L expands PalletOne’s geograp ...

Financial Performance - Net income for Q3 2024 increased by 40% to $16.4 million, compared to $11.7 million in Q3 2023[1] - Sales for Q3 2024 rose 44% to $145.2 million, up from $100.8 million in the same period last year[1] - Adjusted operating income for Q3 2024 increased by 69% to $27.7 million from $16.4 million in Q3 2023[4] - Adjusted EBITDA for Q3 2024 rose 61.4% to $31.2 million from $19.3 million in Q3 2023[4] - Net income (GAAP) for Q3 2024 increased to $16,361,000, compared to $11,694,000 in Q3 2023, representing a growth of 39.3%[13] - Nine-month adjusted net income for 2024 was $47,572,000, compared to $38,358,000 for the same period in 2023, reflecting a growth of 24.0%[13] - Adjusted net income per diluted share for Q3 2024 was $2.39, up 44.8% from $1.65 in Q3 2023[13] Sales and Market Performance - Organic sales growth for Q3 2024 was 9.7%, driven by strong performance in robotic surgery and infection prevention markets[2] - Sales to the medical market surged 52.2% to $132.6 million in Q3 2024, while sales to other markets decreased by 8.2%[3] - Year-to-date sales through September 2024 increased by 20.7% to $360.4 million, compared to $298.6 million in the same period of 2023[3] Cost and Expenses - Gross margin improved to 28.6% in Q3 2024, up from 27.5% in Q3 2023, despite $1.1 million in acquisition-related costs[3] - SG&A expenses (GAAP) for Q3 2024 were $15,789,000, an increase of 26.5% from $12,467,000 in Q3 2023[12] - Acquisition costs for Q3 2024 amounted to $732,000, while for the nine months ended September 30, 2024, they totaled $1,676,000[13] Strategic Initiatives - The company plans to continue executing growth initiatives and integrating recent acquisitions to enhance customer value[2] - The company is expanding operations in the Dominican Republic to support growth and new programs[2] Other Financial Metrics - The company reported a fair value change of contingent consideration of $238,000 for Q3 2024, consistent with the previous year[13] - The weighted average diluted common shares outstanding for Q3 2024 were 7,772,000, compared to 7,709,000 in Q3 2023[13] - The company experienced a significant increase in interest expense, netting $3,475,000 in Q3 2024, compared to $933,000 in Q3 2023[14]

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 quarterly period ended SEPTEMBER 30, 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: 001-12648 UFP Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 04-2314970 (State or ...

NEWBURYPORT, Mass., Nov. 05, 2024 (GLOBE NEWSWIRE) -- UFP Technologies, Inc. (Nasdaq: UFPT), an innovative designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging and other highly engineered custom products, today reported that net income increased 40% to $16.4 million in the third quarter of 2024 from $11.7 million in the third quarter of 2023. Sales for the third quarter increased 44% to $145.2 million compared to 2023 third quarter sales of $100.8 million. Net i ...

UFP Industries, Inc. (UFPI) reported tepid results for the third quarter of 2024. Both earnings and net sales missed the Zacks Consensus Estimate and declined year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The quarterly results were affected by softer demand and broad-based pricing pressures. The company is facing trouble managing the ongoing macroeconomic challenges, aligning its overhead with lower demand levels and eliminating unnecessary costs. Although it is und ...

Here's why I'm planning to add to UFP Technologies in October even though it has already soared. UFP Technologies (UFPT 2.60%) is a "designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products." In layman's terms, UFP Technologies works with medical device manufacturers to develop a wide array of single-use, single-patient devices and components used in the medical technology (medtech) industry. Serving the booming $500 bill ...

NEWBURYPORT, Mass., Aug. 26, 2024 (GLOBE NEWSWIRE) -- UFP Technologies (UFPT), today announced Jeffrey Bailly, Chairman and CEO, and Ron Lataille, Vice President and Chief Financial Officer, will present at the Midwest IDEAS Investor Conference on Wednesday, August 28, 2024 at The Gwen in Chicago, IL. UFP's presentation is scheduled to begin at 7:55 AM CT. The presentation is webcast and can be accessed through the conference host's main website: https://www.threepartadvisors.com/midwest and in the investor ...

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 quarterly period ended JUNE 30, 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: 001-12648 UFP Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 04-2314970 (State or othe ...