PREFORMED LINE PRODUCTS Reports Q2 FY2023 Earnings Results for Period Ending June 30 2023
August 29, 2023
🌥️Earnings Overview
On August 2 2023, PREFORMED LINE PRODUCTS ($NASDAQ:PLPC) released its earnings results for the second quarter of FY2023, ending June 30 2023. Total revenue for the quarter was USD 181.8 million, a year-over-year increase of 11.2%. Net income for the quarter was USD 20.5 million, an impressive increase of 49.3% compared to the same period in the previous year.
Share Price
The stock opened at $178.4 and closed at $178.5, down 0.8% from the prior closing price of $180.0. Although this is a slight decrease from the same period last year, it is still an impressive performance in light of current market conditions. This reflects the successful implementation of cost cutting strategies and solid performance of the company’s operations.
Overall, it was a satisfactory quarter for PLP, despite the dip in stock prices. The strong financial performance and cost-cutting initiatives indicate that the company is headed in the right direction and is well-positioned to meet its targets for the upcoming year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PLPC. More…
| Total Revenues | Net Income | Net Margin |
| 698.96 | 70.27 | 10.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PLPC. More…
| Operations | Investing | Financing |
| 56.76 | -46.76 | 22.54 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PLPC. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 621.94 | 223.49 | 80.45 |
Key Ratios Snapshot
Some of the financial key ratios for PLPC are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.5% | 35.3% | 14.6% |
| FCF Margin | ROE | ROA |
| 2.3% | 16.3% | 10.2% |
Analysis
At GoodWhale, we have conducted an analysis of PREFORMED LINE PRODUCTS’s wellbeing. Based on our Risk Rating, PREFORMED LINE PRODUCTS is a medium risk investment when considering both financial and business aspects. We have detected one risk warning in the income sheet, so register with us to check it out. Our analysis provides a comprehensive overview of the company’s profile, performance, and risks, allowing you to make an informed decision about the investment. With GoodWhale, you can have confidence that you are making the best decisions for your portfolio. More…
Peers
Preformed Line Products Co, a leading manufacturer of products and services for the electric utility and telecommunications industries, competes with Sungrow Power Supply Co Ltd, Arista Power Inc, and Kehua Data Co Ltd. All four companies offer a variety of products and services that meet the needs of their customers.
– Sungrow Power Supply Co Ltd ($SZSE:300274)
Sungrow Power Supply Co Ltd is a Chinese multinational renewable energy company headquartered in Jiangsu. Sungrow is the world’s largest inverter manufacturer for photovoltaic (PV) and wind power plants. The company also provides energy storage solutions and PV system solutions.
Sungrow’s market cap as of 2022 is 197.56B. The company has a Return on Equity of 10.17%. Sungrow Power Supply Co Ltd is the world’s largest inverter manufacturer for photovoltaic (PV) and wind power plants. The company also provides energy storage solutions and PV system solutions.
– Arista Power Inc ($OTCPK:ASPW)
Arista Power is a renewable energy company that designs, manufactures, and sells solar electric power generation systems. The company has a market cap of $62.94 million and a return on equity of -65.91%. Arista Power’s products are used in a variety of applications, including commercial, industrial, and residential. The company has a strong focus on the environment and sustainability, and all of its products are designed to be energy-efficient and to have a minimal impact on the environment.
– Kehua Data Co Ltd ($SZSE:002335)
Kehua Data Co Ltd is a Chinese electronics manufacturer that specializes in the production of data center equipment, including servers, storage devices, and network equipment. The company has a market cap of $18.89 billion and a return on equity of 10.26%. Kehua Data Co Ltd is a publicly traded company listed on the Shenzhen Stock Exchange.
Summary
PREFORMED LINE PRODUCTS had a strong second quarter of FY2023. Total revenue increased 11.2% year-over-year, while net income increased an impressive 49.3%. This suggests the company is well-positioned to continue its success in the future.
Investors should consider PREFORMED LINE PRODUCTS as a viable option for long-term investments, given the strong performance in Q2 and positive outlook going forward. The company is likely to continue to generate higher revenues and profits in the coming quarters, making it an attractive investment option.
