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]

Financial Performance - Net sales for Q3 2024 were $147.0 million, an 8% decrease from $160.4 million in Q3 2023[2] - Net income for Q3 2024 was $7.7 million, or $1.54 per diluted share, down from $15.1 million, or $3.03 per diluted share in Q3 2023[3] - Year-to-date net sales decreased 19% to $426.6 million for the first nine months of 2024 compared to $524.1 million for the same period in 2023[4] - Year-to-date net income for the first nine months of 2024 was $26.6 million, or $5.37 per diluted share, compared to $57.0 million, or $11.39 per diluted share in 2023[5] Profitability and Margins - Gross profit as a percentage of net sales was 31.2% for Q3 2024, consistent with Q2 2024[3] Market Conditions - The decline in net sales is attributed to a slowdown in the communications end market and inventory destocking[6] - The company is optimistic about market prospects and plans to continue investing in new product development and expanding customer service[6] Cash and Assets - Cash, cash equivalents, and restricted cash decreased to $47.5 million as of September 30, 2024, from $53.6 million at the end of 2023[15] - Total assets decreased to $591.9 million as of September 30, 2024, from $603.2 million at the end of 2023[15] Dividends - The company declared cash dividends of $0.20 per share for both Q3 2024 and Q3 2023[16]

Core Viewpoint - Preformed Line Products Company (PLPC) reported challenging second-quarter 2024 results, with significant declines in earnings and revenues due to reduced spending in the communications end market and unfavorable foreign currency translations [1][4]. Financial Results - Earnings per share for Q2 2024 were $1.89, down from $4.08 in Q2 2023, representing a significant decline [3]. - Total revenues for Q2 2024 were $138.7 million, marking a 14% decrease from $181.8 million in the same quarter of the previous year [3]. - Net income for Q2 2024 was $9.4 million, down 54% from $20.5 million in Q2 2023, primarily due to lower gross profit from decreased sales [5]. - Gross profit for Q2 2024 was $44.3 million, down 33.2% from $66.3 million in Q2 2023, with gross profit as a percentage of net sales decreasing by 460 basis points to 31.9% [6]. Operating Costs - Total operating costs for Q2 2024 decreased to $32.98 million from $38.18 million in Q2 2023 [7]. - Selling costs decreased to $11.93 million from $13.01 million year over year [7]. - General and administrative costs slipped to $15.25 million from $18.22 million, while research and engineering costs slightly declined to $5.36 million from $5.76 million [8]. Liquidity - As of June 30, 2024, PLPC's liquidity position included $47.4 million in cash and equivalents, down from $53.6 million at the end of 2023 [9]. - The company's debt profile included $2.8 million in the current portion of long-term debt and $28.8 million in long-term debt [9]. Management Guidance - The company remains optimistic about market prospects and continues to invest in product development, streamline manufacturing operations, and expand its customer service portfolio [10]. - PLPC highlighted ongoing cost-reduction activities initiated in 2023, which have helped maintain financial stability during the market slowdown [10].

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, 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 SECOND QUARTER 2024 FINANCIAL RESULTS CLEVELAND, OHIO – July 31, 2024 - Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its second quarter of 2024. Net sales in the second quarter of 2024 were $138.7 million compared to $181.8 million in the second quarter of 2023, a 24% decrease. The decrease in sales is a continuation of the slowdown in spending in the communications end market. Foreign currency translation reduced second q ...

CLEVELAND, July 31, 2024 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its second quarter of 2024. Net sales in the second quarter of 2024 were $138.7 million compared to $181.8 million in the second quarter of 2023, a 24% decrease. The decrease in sales is a continuation of the slowdown in spending in the communications end market. Foreign currency translation reduced second quarter 2024 net sales by $1.1 million. Net income for the quarter ended June 3 ...

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 ...