PREFORMED LINE PRODUCTS CO

Listed Company

PLPCCIK 0000080035NasdaqAcceleratedWater, Sewer, Pipeline, Comm & Power Line ConstructionOhioFY ends Dec 31

Period

FY 2025

Revenue

$669.34M

Net Income

$35.28M

Total Assets

$653.62M

Equity

$475.52M

Shares Out

4.89M

Op. Cash Flow

$73.47M

Business

PREFORMED LINE PRODUCTS CO is an international designer and manufacturer of products and systems for construction and maintenance of overhead, ground-mounted and underground networks serving energy, telecommunications, cable and data communication industries. It offers formed wire solutions, connectors, fiber optic and copper splice closures, OSP closures, demarcation products, solar framing and EV charging station foundations, inspection (drone) services and related hardware for protecting, supporting, connecting, terminating and securing cables and wires. The company organizes its offerings into Energy Products, Communications Products and Special Industries (including Solar/EV and Inspection Services). It sells worldwide through domestic and international manufacturing facilities using a direct sales force, manufacturers’ representatives, distributors and value-added resellers to utilities, service providers, contractors and governmental agencies.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	669	594	670	637	517
Cost of products sold	461	404	435	422	351
GROSS PROFIT	209	190	235	215	166
Selling	52	49	51	46	41
General and administrative	75	67	75	70	55
Research and engineering	24	22	22	20	19
Other operating expense, net	3	932,000	2	4	4
Total costs and expenses	153	139	151	146	119
OPERATING INCOME	55	51	84	69	48
Interest income	2	3	2	631,000	169,000
Interest expense	−1	−2	−4	−3	—
Pension termination expense	−12	0	0	—	—
Other income (expense), net	1	−339,000	284,000	7	3
Total other income (expense)	−10	13,000	−2	4	1
INCOME BEFORE INCOME TAXES	46	51	82	74	49
Income tax expense	10	14	19	19	13
NET INCOME	35	37	63	54	36
Net income attributable to noncontrolling interests	−24,000	−17,000	−5,000	−4,000	8,000
NET INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS	35	37	63	54	36
Basic (in shares)	5	5	5	5	5
Diluted (in shares)	5	5	5	5	5
Basic (in dollars per share)	7.17	7.56	12.87	11.03	7.28
Diluted (in dollars per share)	7.14	7.5	12.68	10.88	7.19

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, cash equivalents and restricted cash	83	57	54	37	36
Accounts receivable, net	113	111	107	125	98
Inventories, net	149	130	149	147	115
Prepaid expenses	13	12	8	13	20
Other current assets	5	6	7	5	3
TOTAL CURRENT ASSETS	363	316	325	328	272
Property, plant and equipment, net	223	195	208	175	150
Operating lease, right-of-use assets	10	10	12	11	12
Goodwill	31	27	29	28	28
Other intangible assets, net	10	10	13	14	12
Deferred income taxes	7	7	7	5	4
Other assets	9	10	9	7	11
TOTAL ASSETS	654	574	603	568	489
Trade accounts payable	50	42	38	47	42
Notes payable to banks	1	8	7	18	16
Operating lease liabilities, current	2	2	2	2	2
Current portion of long-term debt	5	2	6	3	3
Accrued compensation and other benefits	29	26	28	15	14
Accrued expenses and other liabilities	22	26	27	18	18
Dividends payable	1	1	1	1	1
Income taxes payable	4	2	2	2	1
TOTAL CURRENT LIABILITIES	115	108	111	115	106
Long-term debt, less current portion	33	18	49	68	40
Operating lease liabilities, noncurrent	6	7	8	7	8
Deferred income taxes	6	4	4	4	3
Other noncurrent liabilities	19	14	15	15	13
Common shares $2 par value per share, 15,000,000 shares authorized, 4,907,787 and 4,913,621 issued and outstanding, at December 31, 2025 and December 31, 2024, respectively	14	14	14	13	13
Common shares issued to rabbi trust, 222,506 and 222,887 shares at December 31, 2025 and December 31, 2024, respectively	−10	−10	−10	−10	−10
Deferred compensation liability	10	10	10	10	10
Paid-in capital	67	65	61	54	48
Retained earnings	584	553	520	461	411
Treasury shares, at cost, 2,021,940 and 1,961,772 shares at December 31, 2025 and December 31, 2024, respectively	−137	−127	−118	−99	−94
Accumulated other comprehensive loss	−53	−83	−60	−70	−62
TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS' EQUITY	476	422	416	359	316
Noncontrolling interest	33,000	9,000	−8,000	−13,000	−17,000
TOTAL SHAREHOLDERS' EQUITY	476	422	416	359	316
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	654	574	603	568	489

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	23	21	19	16	16
Provision for accounts receivable allowances	−119,000	−875,000	3	2	—
Provision for inventory reserves	3	4	8	2	3
Deferred income taxes	−1	1	−2	−3	7
Share-based compensation expense	5	3	5	5	4
Loss (gain) on sale of property and equipment	8,000	−2	−2	−775,000	−184,000
Other, net	413,000	828,000	435,000	92,000	656,000
Accounts receivable	7	−9	17	−28	−12
Inventories	−12	7	−5	−37	−24
Prepaid expenses	4	−4	6	5	−3
Trade accounts payable and accrued liabilities	10,000	9	2	7	12
Accrued income and other taxes	−1	590,000	−937,000	2	−4
Contributions to company pension plan	−3	0	−2	−2	0
Other, net	1	−938,000	−5	−247,000	−3
NET CASH PROVIDED BY OPERATING ACTIVITIES	73	67	108	26	34
Capital expenditures	−40	−15	−35	−41	−18
Proceeds from the sale of property and equipment	273,000	3	3	3	141,000
Proceeds from sale of investments	2	2	0	0	—
Purchases of investments	−451,000	−3	0	0	—
Acquisition of businesses, net of cash	−5	0	−12	−16	0
NET CASH USED IN INVESTING ACTIVITIES	−43	−12	−45	−47	−18
(Payments) proceeds of notes payable to banks	−7	860,000	−11	2	376,000
Proceeds from long-term debt	22	96	169	185	99
Payments of long-term debt	−7	−130	−186	−156	−114
Dividends paid	−4	−4	−4	−4	−4
Proceeds from issuance of common shares	2	214,000	2	808,000	409,000
Stock incentive plan payments	−5	0	0	—	—
Purchase of common shares for treasury	−1	−226,000	−728,000	−158,000	−177,000
Purchase of common shares for treasury from related parties	−9	−8	−18	−5	−5
Other	−1	−2	0	0	—
NET CASH USED IN FINANCING ACTIVITIES	−9	−48	−49	23	−23
Effects of exchange rate changes on cash, cash equivalents and restricted cash	5	−4	2	−1	—
Net increase in cash, cash equivalents and restricted cash	26	4	16	833,000	−9

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