Preformed Line Products Co. (PLPC)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$740.2M

Revenue growth

17.1%

Net income, last twelve months

$43.1M

Earnings per share

$8.88

Gross margin

31.4%

Operating margin

9.0%

Net margin

5.8%

Free cash flow

$34.4M

Return on equity

8.7%

Market value

$1.7B

Price to earnings

39.2x

Dividend yield

0.2%

Cash

$76.2M

Debt

$42.8M

Debt to equity

0.09

Shares outstanding

4.9M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 29 July 2026.

• Record quarterly sales and EPS. Net sales were $212.7 million, up 25% from Q2 2025 and 21% from Q1 2026. Diluted EPS was $4.49 against $2.56 a year earlier.
• Net income rose on volume and mix. Management attributed the rise in net income to sales volume, favorable product mix, fixed cost leverage and 2025 price increases, partly offset by selling costs and personnel investment.
• Operating income climbed year over year. Operating income was $27.9 million against $17.1 million in Q2 2025. Income before income taxes was $28.4 million against $17.3 million.
• First-half sales up 22%. Net sales for the first six months were $389.0 million, up 22% from $318.1 million, with first-half diluted EPS of $6.62 against $4.89.
• USA sales rose 32%. Record quarterly USA sales rose 32% from Q2 2025 and 12% from Q1 2026, with energy demand the main driver and communications also up.
• International segments all grew. Every International segment increased sales from Q2 2025.
• Delta Star added to Americas. The Americas segment also benefited from the May 2026 acquisition of Delta Star, based in Salto, Brazil.
• Currency added $6.0 million to sales. Foreign currency translation added $6.0 million to Q2 2026 net sales.
• PLP-USA led first-half growth. For the first six months, every segment grew, with PLP-USA up 29% on higher energy and communications volumes.
• Gross margin reached 34.3%. Gross profit margin was 34.3%, up 160 basis points from Q2 2025 and 300 basis points from Q1 2026.
• Selling and G&A costs rose. Selling costs were $15.4 million against $13.1 million and general and administrative costs $21.5 million against $18.7 million a year earlier.
• Higher tax rate in first half. For the six months, a higher effective tax rate partly offset gains. Income tax expense was $10.7 million against $6.7 million a year earlier.
• Cash balance fell over six months. Cash, cash equivalents and restricted cash were $76.2 million at June 30, 2026, against $83.4 million at December 31, 2025.
• Receivables rose from year-end. Accounts receivable, net, were $151.2 million against $113.2 million at December 31, while inventories were $147.8 million against $148.7 million.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

Company events

The newest 8-K filings of 162 held.

Every filing

The newest filings with the SEC of 368 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

229 funds held it at 30 Jun 2026: 99 added and 60 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Mastec Inc. (MTZ): revenue $16.1B, market value $14.5B
• Dycom Industries Inc. (DY): revenue $6.9B, market value $7.1B
• MYR Group Inc. (MYRG): revenue $4.3B, market value $4.4B
• Primoris Services Corp. (PRIM): revenue $7.3B, market value $4.0B

What the company does

Preformed Line Products Company, which calls itself PLP, was incorporated in Ohio in 1947. It designs and manufactures products and systems used to build and maintain overhead, ground-mounted and underground networks for the energy, telecommunication, cable and data communication industries. Its primary products support, protect, connect, terminate and secure cables and wires.

How the business is organised

The company reports four segments by geography: PLP-USA (which includes corporate), The Americas (North and South America outside PLP-USA), EMEA (Europe, Middle East and Africa) and Asia-Pacific. Each segment distributes a full range of the company's primary products. Segment managers report directly to the Executive Chairman, who is the chief operating decision maker. The company evaluates segment performance mainly on gross sales and income before income taxes.

What it sells

- Energy Products were approximately 71% of revenues in 2025. They support, protect, terminate and splice transmission and distribution lines, and include connectors for substations. Formed wire products shape stiff wire into a helical (spiral) shape. The range also covers OPGW and ADSS fiber optic cable hardware, string hardware, polymer insulators, wildlife protection, substation fittings and spacer dampers. - Communications Products were approximately 22% of revenues. They include outside plant closures that protect fiber optic and copper cable from moisture and other contaminants. They are used mainly in fiber-to-the-home networks. This group also includes wall boxes, pre-terminated cabinets, wall plates, passive components, utility pole line hardware and cable storage devices. - Special Industries Products were approximately 7% of revenues. They include hardware assemblies, plastic products, cable vibration solutions, connectors, tools and urethane solutions. The group also holds the Inspection Services business, which provides drone inspection of utility assets. In addition, it covers solar framing and electric vehicle products, namely mounting systems for photovoltaic solar installations and prefabricated electric vehicle charging station foundations.

Who it sells to

Customers include public and private energy utilities, communication companies, cable operators, governmental agencies, contractors, subcontractors, distributors and value-added resellers. One customer accounts for 10.7% of consolidated revenues, and the company says it is not dependent on a single customer or small group of customers. It sells through its own direct sales force and through independent manufacturers' representatives, who are paid commissions on the sales they generate. Distributors also buy and resell its products.

All customer orders are firm when entered. The company says it expects substantially all of the backlog at 31 December 2025 to ship in 2026. Because the products are used by utility maintenance and construction crews who keep stock on hand, sales do not vary widely from quarter to quarter.

Where it operates

The company serves a worldwide market through domestic and international manufacturing facilities. Each facility has obtained, or is seeking, an ISO 9001:2015 quality management certificate. About 24% of employees are in the United States. International plants make similar products to those sold domestically, for similar customers, and face similar competition. The company has recently been building a new manufacturing plant in Poland and bought land and a building in Spain. In May 2025 it acquired JAP Telecom, which added communications sales in The Americas.

How it competes

The company says the principal methods of competition in its markets are price, performance and service. It lists several advantages:

- A stable workforce. - Engineering support at its subsidiaries worldwide. - Vertical integration in manufacturing and distribution. - Extra service during emergencies such as storm damage. - Sales and manufacturing locations close to customers.

Research is centred on a 38,000-square-foot Research and Engineering Center at the Mayfield Village, Ohio headquarters. Engineers there simulate external conditions such as vibration and environmental change, and the centre also does tensile, fiber optic cable and third-party contract testing. The company holds 75 United States patents and 104 international patents in 21 countries, with 38 United States and 97 international applications pending. It has 35 United States trademark registrations and 242 international registrations in 47 countries. It says no single patent or group of related patents is essential to its business as a whole.

Raw materials and supply

The main raw materials are galvanized wire, stainless steel, aluminum covered steel wire, aluminum rod, plastic resins, glass-filled plastic compounds, neoprene rubbers and aluminum castings. Most plastic resins are bought under contracts. Wire and aluminum rod are bought in standard sizes from a number of suppliers. Contract prices are firm except for base metal and petroleum fluctuations, which bring surcharges when global demand exceeds supply. In limited cases the company relies on sole source manufacturers. Tariffs on imported steel and aluminum raised its raw material costs in 2025.

Its people and environmental commitments

Employees work in many countries, and the company describes health and safety as a core value. Its Wildlife Protection line, which includes the BIRD-FLIGHT Diverter, RAPTOR PROTECTOR Platform and a Squirrel Deterrent System, is designed with utilities to reduce wildlife deaths from power lines. Some locations hold ISO-14001 environmental management certification. The company also supplies repair products to customers after emergencies and natural disasters.

*From Preformed Line Products's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/80035/000008003526000007/plpc-20251231.htm)*

From the company's 10-K.