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PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2025 FINANCIAL RESULTS

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CLEVELAND, May 1, 2025 /PRNewswire/ — Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its first quarter of 2025.

Q1 2025 Highlights compared to Q1 2024:

Net sales growth of 5%Gross margin increase of 150 bpsNet income and fully diluted EPS increase of 20%

Net sales in the first quarter of 2025 were $148.5 million compared to $140.9 million in the first quarter of 2024, a 5% increase. PLP-USA as well as the international segments recorded sales growth compared to the first quarter of 2024 with the USA business benefiting from increased communication sales and the rest of the world experiencing growth in energy sales. Foreign currency translation had a negative impact of $4.4 million for the first quarter of 2025 net sales.

Net income for the quarter ended March 31, 2025, was $11.5 million, or $2.33 per diluted share, compared to $9.6 million, or $1.94 per diluted share, for the comparable period in 2024. The first quarter of 2025 net income was impacted by an increase in gross profit from higher sales levels, partially offset by higher personnel-related period expenses. Gross profit as a percentage of net sales was 32.8% for the first quarter of 2025, an increase of 150 basis points versus the same quarter in 2024.

Rob Ruhlman, Executive Chairman, said, “After a strong finish in 2024, we are off to a solid start for 2025. I am especially pleased with the sales growth in the USA communications business as well as growth in most of the international operations. While we remain optimistic about continued growth in our primary end markets, we are cautious about the impact on customer demand caused by the newly enacted tariffs. Our strong commitment to USA manufacturing will provide a competitive advantage in the current high-tariff environment, but we will incur certain cost increases related to key commodity inputs necessary for our USA production process, primarily steel and aluminum raw materials and component parts. We are actively working to mitigate the impact of cost increases caused by tariffs and other global commodity cost increases by implementing targeted selling price increases and continued focus on cost containment strategies.  Our current focus is unchanged: provide our customers with the high-quality products and timely service they have come to expect from PLP.”

A presentation on first quarter results will also be available on PLP’s website at www.plp.com/investor-relations.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company’s and management’s beliefs and expectations concerning the Company’s future performance or anticipated financial results, among others. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties which may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include the uncertainty in global business conditions and the economy due to factors such as inflation, rising interest rates, tariffs, labor disruptions, military conflict, political instability, exchange rates, natural disasters and health epidemics, the strength of demand and availability of funding for the Company’s products and the mix of products sold, the relative degree of competitive and customer price pressure on the Company’s products, the cost, availability and quality of raw materials required for the manufacture of products, opportunities for business growth through acquisitions and the ability to successfully integrate any acquired businesses, changes in regulations and tax rates, security breaches, litigation and claims and the Company’s ability to continue to develop proprietary technology and maintain high-quality products and customer service to meet or exceed new industry performance standards and individual customer expectations, and other factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the Company’s 2024 Annual Report on Form 10-K filed with the SEC on March 13, 2025 and subsequent filings with the SEC. The Annual Report on Form 10-K and the Company’s other filings with the SEC can be found on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

ABOUT PLP

PLP protects the world’s most critical connections by creating stronger and more reliable networks. The company’s precision-engineered solutions are trusted by energy and communications providers worldwide to perform better and last longer. With locations in 20 countries, PLP works as a united global corporation, delivering high-quality products and unparalleled service to customers around the world.

 

PREFORMED LINE PRODUCTS COMPANY

CONSOLIDATED BALANCE SHEETS

March 31, 2025

December 31, 2024

(Thousands of dollars, except share and per share data)

(Unaudited)

ASSETS

Cash, cash equivalents and restricted cash

$                         54,835

$                         57,244

Accounts receivable, net

118,504

111,402

Inventories, net

135,098

129,913

Prepaid expenses

12,261

11,720

Other current assets

6,024

5,514

TOTAL CURRENT ASSETS

326,722

315,793

Property, plant and equipment, net

203,083

195,086

Goodwill

27,746

26,685

Other intangible assets, net

9,736

9,656

Deferred income taxes

6,284

6,546

Other assets

18,880

20,111

TOTAL ASSETS

$                       592,451

$                       573,877

LIABILITIES AND SHAREHOLDERS’ EQUITY

Trade accounts payable

$                         45,252

$                         41,951

Notes payable to banks

5,845

7,782

Current portion of long-term debt

3,378

2,430

Accrued compensation and other benefits

20,788

25,904

Accrued expenses and other liabilities

30,654

30,346

TOTAL CURRENT LIABILITIES

105,917

108,413

Long-term debt, less current portion

25,682

18,357

Other noncurrent liabilities and deferred income taxes

25,031

24,783

SHAREHOLDERS’ EQUITY

Common shares – $2 par value per share, 15,000,000 shares authorized, 4,940,131
and 4,913,621 issued and outstanding, at March 31, 2025 and December 31, 2024

13,820

13,752

Common shares issued to rabbi trust, 223,034 and 222,887 shares at March 31, 2025
and December 31, 2024, respectively

(9,594)

(9,575)

Deferred compensation liability

9,594

9,575

Paid-in capital

62,205

65,093

Retained earnings

563,678

553,179

Treasury shares, at cost, 1,969,354 and 1,961,772 shares at March 31, 2025 and
December 31, 2024, respectively

(127,812)

(126,800)

Accumulated other comprehensive loss

(76,115)

(82,909)

TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS’ EQUITY

435,776

422,315

Noncontrolling interest

45

9

TOTAL SHAREHOLDERS’ EQUITY

435,821

422,324

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$                       592,451

$                       573,877

 

PREFORMED LINE PRODUCTS COMPANY

STATEMENTS OF CONSOLIDATED INCOME

Three Months Ended March 31,

2025

2024

(Thousands, except per share data)

(Unaudited)

Net sales

$                         148,541

$                         140,904

Cost of products sold

99,870

96,773

GROSS PROFIT

48,671

44,131

Costs and expenses

Selling

12,181

11,900

General and administrative

17,626

16,608

Research and engineering

5,479

5,431

Other operating expense (income), net

255

(1,367)

35,541

32,572

OPERATING INCOME

13,130

11,559

Other income (expense)

Interest income

510

972

Interest expense

(376)

(708)

Other income, net

407

35

541

299

INCOME BEFORE INCOME TAXES

13,671

11,858

Income tax expense

2,118

2,255

NET INCOME

$                           11,553

$                              9,603

Net loss (income) attributable to noncontrolling interests

(36)

(7)

NET INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY
SHAREHOLDERS

$                           11,517

$                              9,596

AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:

Basic

4,928

4,915

Diluted

4,950

4,944

EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PREFORMED
LINE PRODUCTS COMPANY SHAREHOLDERS:

Basic

$                                2.34

$                                1.95

Diluted

$                                2.33

$                                1.94

Cash dividends declared per share

$                                0.20

$                                0.20

 

 

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SOURCE Preformed Line Products Company

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Hisense Celebrates Earth Day: The Quiet Green Shift Happening Inside Households Through Smarter Appliances

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DUBAI, UAE, April 22, 2026 /PRNewswire/ — There’s something futuristic about a refrigerator that thinks for itself. Not in a science-fiction, take-over-the-world kind of way, but in the everyday miracle of a 620-litre side-by-side unit deciding, on its own, that 3am is the perfect time to run its compressor at minimal power because nobody’s opening the door anyway.

This is the green revolution that nobody talks about at climate summits. While world leaders debate carbon credits and industrial emissions, a quieter transformation is unfolding in kitchens, utility rooms, and living spaces across the UAE and beyond. It happens every time a washing machine calculates the precise amount of water needed for that half-load of towels, or when an air conditioner’s inverter technology throttles down instead of cycling on and off like an energy-guzzling metronome.

Earth Day, falling on 22 April this year, typically conjures images of tree-planting ceremonies and beach clean-ups. Worthy endeavours, certainly. But the environmental impact of what sits in your home, running twenty-four hours a day, seven days a week, fifty-two weeks a year, rarely gets the attention it deserves.

On average, washing machines use 19 gallons of water per load, and the average household runs between 5 and 6 loads per week. Based on those figures, most washers use up to 5,605 gallons of water annually . Swap that for a modern front-load unit with AI wash programs, like Hisense’s models, and that figure can drop by up to 50 percent. Multiply this across the roughly 500,000 households in Dubai alone, and we’re suddenly talking about water savings that would make a desalination plant executive weep with joy.

The same logic applies to electricity consumption, a particularly pressing concern in a region where summer temperatures regularly exceed 45°C and air conditioning is a necessity. The difference between a conventional split AC unit and one equipped with inverter technology isn’t marginal, it’s substantial enough to show up on utility bills within the first month of operation.

Intelligence as an Environmental Strategy

What makes the current generation of home appliances genuinely different isn’t just improved efficiency ratings or eco-labelling. It’s the integration of AI into the very fabric of how these machines operate.

Hisense, a brand that has positioned itself at this intersection of technology and sustainability, describes its approach as a “dual-track strategy of intelligence plus green development.” Its ConnectLife ecosystem, available on select refrigerators, washing machines, dishwashers, and air conditioners, monitors energy consumption in real-time, learns household patterns, and makes AI-driven recommendations that, over time, compound into meaningful resource savings.

A Hisense 14-place setting dishwasher with auto-wash technology, for instance, doesn’t simply run the same cycle regardless of load. It assesses soil levels and adjusts water temperature and duration accordingly. A half-load mode means running appliances at appropriate capacity rather than wasting resources on unnecessary full cycles.

Multi-airflow cooling systems that reduce temperature fluctuation and preserve food longer. No-frost technology that eliminates the energy waste of ice buildup. Inverter compressors that modulate power consumption rather than running at full throttle constantly. These technologies have existed in various forms for years. What’s changed is their integration into accessible price points and mainstream product lines, making efficient living achievable for households beyond the ultra-premium market.

The Gulf region presents a fascinating case study for domestic sustainability. Per capita energy consumption ranks among the highest globally, driven by climate control requirements, water desalination dependencies, and historically subsidised utility costs. Yet the UAE has simultaneously positioned itself as a regional leader in renewable energy investment and sustainability commitments.

This creates a unique environment where smart appliance adoption carries amplified significance. A 1.5-ton inverter split AC running across a typical Abu Dhabi summer doesn’t just save its owner money, it reduces the load on an electrical grid increasingly powered by solar and nuclear generation. The connection between individual choices and collective outcomes becomes tangible in ways that might seem abstract in milder climates.

The rise of connected appliances adds another dimension. Remote diagnostics can extend product lifespans by identifying minor issues before they become terminal failures. Software updates can improve efficiency algorithms years after purchase. Energy monitoring creates accountability loops that encourage conscious consumption patterns.

Steam wash functions on modern washing machines reduce the need for hot-water cycles while improving allergen removal. Anti-bacterial filters in air conditioning units address both health and environmental concerns simultaneously. These convergences suggest that the old tension between convenience and conscience may be resolving itself through engineering rather than requiring consumers to choose sides.

The Household as Climate Actor

There’s something democratic about domestic sustainability. Industrial emissions reductions require policy negotiations, capital investments, and coordination across complex stakeholder ecosystems. Choosing a more efficient refrigerator requires a trip to the appliance store and perhaps a slightly higher upfront cost that will recoup itself over the product’s operational lifetime.

This isn’t to diminish the necessity of systemic change, individual action cannot substitute for structural transformation. But the two approaches complement rather than compete. Households equipped with intelligent appliances consume fewer resources, place less strain on infrastructure, and model consumption patterns that cascade through communities.

The quiet green shift happening inside households won’t make headlines the way renewable energy megaprojects or electric vehicle adoption rates do. But every time that dishwasher calculates optimal water usage, every time that inverter compressor modulates instead of cycles, every time that smart refrigerator adjusts its cooling schedule based on door-opening patterns, something meaningful happens. Millions of these moments, aggregated across millions of households, compound into impact that rivals any single infrastructure project.

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Dreame Nebula NEXT Auto expands academic collaboration to accelerate AI-driven automotive innovation

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UC Berkeley engagement underscores long-term investment in autonomous systems, engineering depth and intelligent vehicle development

BERKELEY, Calif., April 22, 2026 /PRNewswire/ — Dreame Nebula NEXT Auto has deepened its engagement with leading academic institutions, including the University of California, Berkeley, as it accelerates development of AI-defined vehicles and next-generation autonomous systems. The collaboration signals a long-term commitment to advancing core technologies that will shape the future of intelligent automotive motion.

The engagement brought Nebula NEXT engineers and leadership together with Berkeley researchers specialising in autonomous control systems, AI and intelligent transportation. The sessions focused on translating advanced research into real-world vehicle systems, with particular emphasis on safety, control and full-stack AI integration.

Jake Ma, Executive of Dreame Nebula NEXT Auto, said: “We aren’t building a car. We are building a new brain for the physical world. To us, the car is the only physical mothership capable of carrying the extreme compute required by large AI models today.”

The visit forms part of a broader strategy to anchor Nebula NEXT’s development in deep technical collaboration. By working closely with academic experts, the company is strengthening its approach to autonomous driving, vehicle intelligence and system-level engineering.

Nebula NEXT builds on Dreame Technology’s foundation in precision engineering and AI-driven innovation. This heritage underpins a shift from software-defined vehicles to AI-defined vehicles, where intelligence is embedded across the entire system, from perception and decision-making to chassis and powertrain control.

The company’s technical direction centres on integrating AI into the core dynamics of how vehicles operate. This includes continuous learning systems, multi-agent architectures and high-performance computing platforms designed to support real-time decision-making in complex driving environments.

Nebula NEXT first drew global attention at CES 2026 with the debut of the Nebula NEXT 01, a four-door electric hyper-sedan concept. The vehicle delivers 1.8-second acceleration from 0 to 100 km/h, more than 2,000 horsepower and a lightweight structure built from proprietary Blue Carbon Fiber.

Momentum continued with a high-profile appearance during the Super Bowl LVIII broadcast, extending the brand’s reach across North America and reinforcing its position as an emerging force in automotive technology.

Alongside performance, the company continues to prioritise foundational innovation. Its architecture combines AI-native operating systems, zonal electrical design and high-density computing platforms to enable scalable, intelligent vehicle systems.

Nebula NEXT is now entering a phase focused on system execution, engineering depth and scalable technology development. The company will present further advances at an upcoming Silicon Valley event on 27 April 2026, where it will unveil new products and core technologies.

By combining global market momentum, academic collaboration and a focus on engineering fundamentals, Dreame Nebula NEXT is positioning itself at the centre of the transition to AI-defined mobility.

Media contact:
Li Tong, Dreame Nebula Next Auto PR head, litong2@dreame.tech
Website: https://www.dreametech.com

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Sucden Financial Enables Client Trading in Shanghai Nickel Futures

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LONDON, April 22, 2026 /PRNewswire/ — Sucden Financial, the multi-asset execution, clearing and liquidity provider, announces that clients can now trade nickel futures and options on the Shanghai Futures Exchange (SHFE), following today’s opening of the contract to international participants.

Sucden Financial offers access to SHFE through its Overseas Intermediary status and established Chinese banking relationships. Clients can manage exposure across SHFE, the London Metal Exchange (LME) and more than 20 other global commodities markets through a single account.

In addition to SHFE nickel contracts, Sucden Financial’s clients can access the following Chinese exchanges: the Shanghai International Energy Exchange, the Dalian Commodity Exchange and the Zhengzhou Commodity Exchange.

Lucy Wainman, Head of Sales (China) at Sucden Financial, said:

“We are pleased to offer clients the opportunity to trade Shanghai nickel futures and options contracts, further broadening our access to Chinese markets. This milestone reflects the hard work of our team and the long-standing relationships we have built in China. We would like to thank SHFE and Chinese regulators for their support and constructive engagement.”

Marc Bailey, CEO of Sucden Financial, said:

“Expanding our global exchange coverage to include access to onshore mainland Chinese markets supports our organic growth strategy. By adding access to SHFE, we provide clients with an extended global reach through a single account. Continued investment in technology underpins our long-term commitment to our clients, enabling them to respond quickly to changing market dynamics and capture emerging opportunities.”

About Sucden Financial

With a history and heritage in commodity futures and options trading, Sucden Financial has evolved and diversified to become a leading global multi-asset execution, clearing and liquidity provider across FX, fixed income, and commodities.

Sucden Financial has a proven track record of over 50 years in financial markets. Since its foundation in 1973, it has been supported by its parent, Sucden, one of the world’s leading soft commodity trading groups, while remaining fully independent in its day-to-day trading operations.

Sucden Financial Limited is authorised and regulated by the Financial Conduct Authority.

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