Record Q2: Revenue Jumps 25% to $212.7M, EPS Soars 75% to $4.49
PLPC has more than doubled off its 52-week low of $139.53.
Summary
Preformed Line Products delivered a blowout Q2, with revenue surging 25% to a record $212.7M, handily beating the lone analyst estimate of $193M. Diluted EPS skyrocketed 75% to $4.49, also a record, driven by robust energy demand, improved margins, and the recent Delta Star acquisition in Brazil. The results follow the 8-K filed earlier today and build on Q1's 19% sales growth, but this quarter's margin expansion and acquisition contribution mark a significant acceleration. With only one analyst covering the stock and a 'hold' rating, these numbers could force a re-evaluation. The stock trades at 29x forward earnings, up from 26x three months ago, reflecting rising expectations that this quarter validates.
At the time of this announcement, PLPC was trading at $288.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $139.53 to $414.35. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.