Preformed Line Products Sales Jump 18% to $209.5 Million in Third Quarter
Key Facts
Preformed Line Products said net sales were $209.5 million in the third quarter ended September 30, 2026, up 18% from $178.1 million in the year-earlier period. The company said in a statement distributed via PR Newswire that net income rose to $18 million, or $3.56 per diluted share, from $2.6 million, or $0.53 per share, a year earlier. Gross profit margin was 33.4%, up 370 basis points year over year. Chairman and Chief Executive Rob Ruhlman said sales approached the record level recorded in the previous quarter and that margin improved from a year earlier. The results reflect growth in sales and earnings alongside continued cost pressures and tariffs cited by management.
The company said net income growth benefited from higher sales volumes, an improved product mix and fixed-cost absorption, along with price increases implemented in 2025 and early 2026. These factors were offset by higher selling and shipping costs, investment in employees and the continuing impact of tariffs. Foreign currency translation added $3.1 million to net sales in the quarter and had a positive $0.4 million effect on net income. Excluding U.S. retirement plan termination expenses recorded in the third quarter of 2025, diluted earnings per share rose 70% year over year. The adjusted comparison shows the effect of retirement-plan-related expenses on earnings in the year-earlier period.
By region, Americas sales rose 7% on a constant-currency basis, benefiting from the May 2026 acquisition of Delta Star Conetores Electricos Ltda and higher communications volumes. Asia-Pacific sales grew 17% on a constant-currency basis, driven by higher power sales volumes. The company said strong 2026 performance at PLP-USA was led primarily by sales growth in power transmission and distribution markets. Sales in that segment also exceeded $100 million for the second consecutive quarter, according to Ruhlman. The figures put power and communications growth at the forefront of the sales drivers the company cited for the quarter.
In the first nine months of 2026, sales rose 21% to $598.5 million, compared with $496.2 million in the same period of 2025. The company said all segments posted annual increases in net sales, supported by higher power and communications sales volumes, with PLP-USA's 28% growth the strongest. Net income for the period was $50.1 million, or $10.18 per diluted share, compared with $26.8 million and $5.42 per share in the first nine months of 2025. The company generated $68.1 million in operating cash flow during the first nine months. It ended the quarter with $99.3 million in cash and $53.9 million in available credit.
Preformed Line Products provides engineered solutions for utility and communications provider networks and says it has facilities in 20 countries. Ruhlman said strong demand in domestic power markets continued during the quarter, alongside year-over-year margin improvement. The company said a presentation on its third-quarter results would be available on its website in the investor relations section. The statement did not specify a later date for an event or another results update. The announced presentation will allow the company to provide investors with additional details on quarterly performance.