Connect with us

Technology

PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS

Published

on

CLEVELAND, April 29, 2026 /PRNewswire/ — Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its first quarter of 2026.

Q1 2026 highlights:

Quarterly net sales of $176.3 million, an increase of 19% from Q1 2025.USA sales growth of 26% from Q1 2025, driven by robust demand in energy and communications markets.Gross profit margin of 31.3%, up 150 basis points from Q4 2025.Diluted EPS of $2.14 per share, up 24% from Q4 2025.

Net sales in the first quarter of 2026 were $176.3 million compared to $148.5 million in the first quarter of 2025, a 19% increase. All segments recorded sales growth compared to the first quarter of 2025, with the PLP-USA business growing by 26%, primarily due to higher demand for energy and communications products. Foreign currency translation had a favorable impact of $7.2 million on the first quarter of 2026 net sales.

Net income for the quarter ended March 31, 2026, was $10.5 million, or $2.14 per diluted share, compared to $11.5 million, or $2.33 per diluted share, for the comparable period in 2025. While gross profit was up approximately $6.5 million from Q1 2025, period expenses were impacted by increased personnel costs supporting strategic market growth in core product offerings in both energy and communications, primarily for sales, sales support and engineering resources. Net income for the first quarter of 2026 was affected by an income tax charge of $1.3 million related to PLP’s French subsidiary. Foreign currency translation had a favorable impact of $0.1 million on the first quarter of 2026 net income. Compared against Q4 2025, which contained many of the same tariff headwinds that impacted Q1 2025, gross profit margins, net income, and diluted EPS all increased.

“As we reflect on the first quarter of 2026, I am proud of the Company’s continued resilience in a challenging and dynamic global environment,” said Rob Ruhlman, Executive Chairman. “Our team achieved exceptional sales growth this quarter, propelled by outstanding results from our U.S. manufacturing operations and our ability to meet rising demand. We faced margin pressure from higher manufacturing and ongoing tariff-related costs, as well as volatility in commodity prices. However, our impressive 150 basis point increase in gross profit percentage from Q4 2025 shows that we are actively managing these challenges through supply chain optimization, pricing strategies, and investment in efficiency and innovation. Our healthy balance sheet and strong liquidity provide flexibility to pursue strategic acquisitions, while also investing in facility modernization and returning capital to our valued shareholders. While the ongoing tariff and geopolitical uncertainties present challenges, I believe our team is well prepared to adapt. Our focus is unchanged: provide our customers with the high-quality products and superior customer 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, international hostilities, political instability, exchange rates, natural disasters and health epidemics, the strength of demand and availability of funding for the Company’s products (including in light of price increases) 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 and customer demand, 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 2025 Annual Report on Form 10-K filed with the SEC on March 5, 2026 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 (PLPC)

CONSOLIDATED BALANCE SHEET

 

March 31, 2026

December 31, 2025

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

(Unaudited)

ASSETS

Cash, cash equivalents and restricted cash

$                69,452

$                83,389

Accounts receivable, net

130,840

113,175

Inventories, net

151,810

148,730

Prepaid expenses

12,998

12,961

Other current assets

6,287

5,206

TOTAL CURRENT ASSETS

371,387

363,461

Property, plant and equipment, net

225,279

222,781

Goodwill

30,351

30,684

Other intangible assets, net

9,837

10,140

Deferred income taxes

6,794

7,481

Other assets

18,181

19,074

TOTAL ASSETS

$               661,829

$               653,621

LIABILITIES AND SHAREHOLDERS’ EQUITY

Trade accounts payable

$                56,766

$                49,520

Notes payable to banks

1,318

1,213

Current portion of long-term debt

5,891

5,392

Accrued compensation and other benefits

24,084

29,207

Accrued expenses and other liabilities

35,532

29,378

TOTAL CURRENT LIABILITIES

123,591

114,710

Long-term debt, less current portion

34,737

32,860

Other noncurrent liabilities and deferred income taxes

29,919

30,500

SHAREHOLDERS’ EQUITY

Common shares $2 par value per share, 15,000,000 shares authorized, 4,888,012 and 4,907,787 issued and outstanding, at March 31, 2026 and December 31, 2025

13,890

13,860

Common shares issued to rabbi trust, 222,506 and 222,506 shares at March 31, 2026 and December 31, 2025, respectively

(9,586)

(9,586)

Deferred compensation liability

9,586

9,586

Paid-in capital

66,047

67,217

Retained earnings

593,869

584,360

Treasury shares, at cost, 2,056,379 and 2,021,940 shares at March 31, 2026 and December 31, 2025, respectively

(145,492)

(136,554)

Accumulated other comprehensive loss

(54,790)

(53,365)

TOTAL PLPC SHAREHOLDERS’ EQUITY

473,524

475,518

Noncontrolling interest

58

33

TOTAL SHAREHOLDERS’ EQUITY

473,582

475,551

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$               661,829

$               653,621

 

PREFORMED LINE PRODUCTS COMPANY

STATEMENTS OF CONSOLIDATED INCOME

 

Three Months Ended March 31,

2026

2025

(Thousands, except per share data)

(Unaudited)

Net sales

$               176,278

$               148,541

Cost of products sold

121,058

99,870

GROSS PROFIT

55,220

48,671

Costs and expenses

Selling

13,769

12,181

General and administrative

21,053

17,626

Research and engineering

6,736

5,479

Other operating (income) expense, net

(54)

255

41,504

35,541

OPERATING INCOME

13,716

13,130

Other income (expense)

Interest income

777

510

Interest expense

(232)

(376)

Other income, net

69

407

614

541

INCOME BEFORE INCOME TAXES

14,330

13,671

Income tax expense

3,781

2,118

NET INCOME

$                10,549

$                11,553

Net loss (income) attributable to noncontrolling interests

(25)

(36)

NET INCOME ATTRIBUTABLE TO PLPC SHAREHOLDERS

$                10,524

$                11,517

AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:

Basic

4,906

4,928

Diluted

4,927

4,950

EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC SHAREHOLDERS:

Basic

$                   2.15

$                   2.34

Diluted

$                   2.14

$                   2.33

Cash dividends declared per share

$                   0.21

$                   0.20

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/preformed-line-products-announces-first-quarter-2026-financial-results-302757896.html

SOURCE Preformed Line Products Company

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

DEFSEC Ships New BLISS (“Battlespace Laser Identification Sensor System”) To U.S. Army Yuma Test Center

Published

on

By

OTTAWA, ON, April 29, 2026 /PRNewswire/ – DEFSEC Technologies Inc. (TSXV: DFSC) (TSXV: DFSC.WT.U) (NASDAQ: DFSC) (NASDAQ: DFSCW) (“DEFSEC” or the “Company”) today confirmed that it has now shipped two new networked BLISSTM systems to the United States Army Yuma Test Center (US Army YTC) for test and evaluation.

The BLISSTM shipment today to the US Army YTC follows delivery of an earlier version, called BLDS (Battlefield Laser Detection System) to the U.S. Army last year for testing and trial activity.  BLISSTM is an enhanced, networked version of BLDS as the next step in the evolution of the Company’s technology roadmap for battlespace laser detection and intelligence.

The patent-pending BLISSTM system alerts operators to laser activity across the battlespace, providing critical early warning and valuable seconds to assess, evade, defend, and deploy countermeasures. Miniaturized BLISSTM sensors can be mounted on vehicles and fixed infrastructure, or worn on personnel, to affordably blanket a battlespace with sensors for enhanced survivability and situational awareness and battlespace intelligence in contested environments.  It transforms laser warning into shared, actionable battlespace information.

Beyond real-time detection, BLISSTM incorporates enhanced laser pulse signature capture and analysis to help identify the source, intent, and affiliation of detected emissions.  By enabling users to distinguish among known signatures, the system supports faster, more informed tactical decisions.

“The BLISSTM system shipped today to Yuma for US Army testing represents a major step forward in tactical-edge force protection and actionable battlespace intelligence for commanders,” said Sean Homuth, President and CEO. “This capability will provide operators with critical time, better information, and a meaningful operational advantage against laser-enabled threats, including those seen in current Middle East conflicts.”

DEFSEC expects to brief domestic and foreign delegations on its BLISS product at Canada’s upcoming annual defence and security show, “CANSEC”, May 27 and 28, 2026, in Ottawa.

About DEFSEC

DEFSEC (TSXV: DFSC) (TSXV: DFSC.WT.U) (NASDAQ: DFSC) (NASDAQ: DFSCSW) (FSE: 62UA) develops and commercializes breakthrough next-generation tactical systems for military and security forces. The company’s current portfolio of offerings includes digitization of tactical forces for real-time shared situational awareness and targeting information from any source (including drones) streamed directly to users’ smart devices and weapons. Other DEFSEC products include countermeasures against threats such as electronic detection, lasers and drones. These systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems, and all come integrated with TAK. The company also has a new proprietary less-lethal product line branded PARA SHOTTM with applications across all segments of the non-lethal market, including law enforcement. The Company is headquartered in Ottawa, Canada.

For more information, please visit https://www.defsectec.com

Forward-Looking Statements

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian and United States securities laws (collectively, “forward-looking statements”), which may be identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “have sight of”, “believe”, or “continue”, the description of “optimism”, ” momentum” or “interest”,  the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking statements contain these terms and phrases. Forward-looking statements are provided for the purpose of assisting the reader in understanding us, our business, operations, prospects and risks at a point in time in the context of historical and possible future developments and therefore the reader is cautioned that such information may not be appropriate for other purposes. Such forward-looking statements are based on the current expectations of DEFSEC’s management and are based on assumptions and subject to risks and uncertainties that are documented in detail in the Company’s public filings. Forward-looking statements included in this include, but are not limited to: management’s belief of sufficiency of available financial resources to support forecasted activities in 2026 based on cash on hand, anticipated revenue streams and planned expenditures in the fiscal year, subject to execution of the Company’s operating plan and other risks and factors described  in its public filings; interest in DEFSEC LightningTM, BLISSTM or other products and services as well as timing of full implementation or commercial release thereof; the Company’s estimates of increases to annualized gross margin on a go-forward basis and extent thereof, if any; the stage of scaled production for the PARA SHOTTM technology into new training cartridges and timing of release thereof; and management’s belief that its extensive customer base of law enforcement agencies for ARWEN throughout North America is a ready market for its new products like PARA SHOTTM as well as DEFSEC LightningTM.

Although DEFSEC’s management believes that the assumptions underlying such forward-looking statements are reasonable, they may prove to be incorrect. The forward-looking statements discussed in this news release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting DEFSEC, including DEFSEC’s inability to execute on its current operating plan and/or fiscal 2026 forecasted activities, DEFSEC’s inability to secure contracts and subcontracts (on the timelines, size and scale expected or at all), statements of work and orders for its products in fiscal 2026 and onwards for reasons beyond its control, the renewal or extension of agreements beyond their original term, the granting of patents applied for by DEFSEC, inability to finance the scale up to full commercial production levels for its physical products, inability to secure key partnership agreements to facilitate the outsourcing and logistics for its ARWEN® and PARA SHOTTM products, inability to commercialize DEFSEC’s Battlespace Laser Identification Sensor System (BLISS), inability to secure or complete the execution of government contracts, inability to drive growth in DEFSEC’s ARWEN® product line, inability to advance the commercialization of DEFSEC’s PARA SHOTTM products, delay or inability to launch DEFSEC’s Lightning SaaS offering, lower than expected or delayed demand for DEFSEC’s BLISS, overall interest in DEFSEC’s products being lower than anticipated or expected; general economic and stock market conditions; a stagnation or decrease in North American defense and public safety spending, adverse industry events; future legislative and regulatory developments in Canada, the United States and elsewhere; the inability of DEFSEC to implement and execute its business strategies; risks and uncertainties detailed from time to time in DEFSEC’s filings with the Canadian Security Administrators and the United States Securities and Exchange Commission, and many other factors beyond the control of DEFSEC. Although DEFSEC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and DEFSEC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its respective Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/defsec-ships-new-bliss-battlespace-laser-identification-sensor-system-to-us-army-yuma-test-center-302758001.html

SOURCE DEFSEC Technologies Inc

Continue Reading

Technology

SPX Cooling Tech Unveils the Marley® OlympusMAX™ Fluid Cooler

Published

on

By

Maximum Capacity. Trusted Performance.

OVERLAND PARK, Kan., April 29, 2026 /PRNewswire/ — SPX Cooling Tech, LLC announced the launch of the Marley® OlympusMAX™ Fluid Cooler, engineered to deliver unmatched performance, efficiency and design flexibility for mission-critical facilities. Designed to meet the evolving demands of data centers, industrial plants and high-density cooling applications, the OlympusMAX Fluid Cooler sets a new benchmark in dry and adiabatic cooling technology.

Built on a century of heat rejection expertise, the OlympusMAX Fluid Cooler brings a new level of performance in dry and adiabatic cooling.  It is available in both adiabatic and dry configurations. The bolt-on adiabatic module can be factory or field installed—or even installed after the equipment is operational in order to provide maximum flexibility in response to changing conditions and site demands.

As global data center density continues to expand, operators are increasingly seeking cooling solutions that balance performance, energy use, water use and operational flexibility. “OlympusMAX reflects our commitment to advancing cooling technology to support the evolving demands of mission-critical facilities,” said Dustan Atkinson, Director of Product Management for SPX Cooling Tech. “By offering scalable dry and adiabatic performance, engineered flexibility and streamlined installation, we’re helping facilities meet increasingly challenging demands while maintaining efficiency and long-term reliability.”

At the heart of the OlympusMAX adiabatic module is a patent-pending recirculating adiabatic design that significantly reduces blowdown, minimizing unnecessary water discharge while improving system efficiency. Unlike traditional once-through or spray systems, the unit’s recirculation technology delivers more uniform water flow across the pad – improving saturation efficiency, extending pad life and reducing mineral accumulation on critical components. The result is more predictable energy and water consumption – a critical advantage for performance-sensitive environments such as hyperscale data centers.

Engineered for uptime, the OlympusMAX features high-efficiency Marley Geareducer® gear drives, robust construction materials and integrated component redundancy, including mission-critical fan and VFD systems. With unit options ranging from 120 to 240 horsepower, the design maximizes cooling capacity per square foot, delivering industry-leading heat rejection density.

Installation and serviceability were key priorities in the system’s development. Each unit ships with a factory-assembled electrical access platform, single-point wiring connection, VFDs and PLC controls pre-installed, and full-size access doors with internal walkways. These features streamline installation while enabling safer operation and easier maintenance.

The launch underscores SPX Cooling Tech’s mission to provide flexible, high-efficiency heat rejection solutions across its full portfolio including dry coolers, adiabatic coolers, evaporative coolers, and cooling towers, ensuring customers have a single-supplier solution tailored to their operational strategy.

About SPX Cooling Tech, LLC
SPX Cooling Tech is a leading global manufacturer of cooling towers, fluid coolers, adiabatic and dry cooling systems, evaporative condensers, industrial evaporators and OEM aftermarket parts from brands that include Marley®, Recold® and SGS Refrigeration. Since 1922, our brands’ cooling systems, components and technical services have supported applications in heating, ventilation and air conditioning (HVAC), refrigeration, and industrial process cooling. SPX Cooling Tech and its product brands are part of SPX Technologies, Inc. For more information see www.spxcooling.com.

About SPX Corporation
SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX Technologies has approximately 4,700 employees in 16 countries and is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/spx-cooling-tech-unveils-the-marley-olympusmax-fluid-cooler-302758020.html

SOURCE SPX Cooling Technologies

Continue Reading

Technology

AMTD’s TGE Reports Full Year Results with 27.7% Increase in Revenue, with 25.5% Increase in Total Assets and 9.1% Increase in Net Assets

Published

on

By

PARIS and LONDON and NEW YORK, April 29, 2026 /PRNewswire/ — The Generation Essentials Group (“TGE” or the “Company”) (NYSE: TGE, LSE; TGE), a NYSE and LSE dual-listed company and a subsidiary of AMTD Group Inc., today announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission, with summary highlights below:

Total Revenue increased by 27.7% from US$77.0 million to US$98.3 millionTotal non-GAAP Net Income increased by 3.2% from US$44.7 million to US$46.2 million Total Assets amounted to US$1,464.1 million (US$30.2/share)Net asset value amounted to US$839.1 million (US$17.3/share)

The annual report is available on the Company’s investor relations website at  http://thegenerationalessentials.com. The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to Investor Relations Office at ir@tge.media.

About The Generation Essentials Group

The Generation Essentials Group (NYSE: TGE; LSE: TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in France and focuses on global strategies and developments in multi-media, entertainment, and cultural affairs worldwide as well as hospitality and VIP services. TGE comprises L’Officiel, The Art Newspaper, movie and entertainment projects. Collectively, TGE is a diversified portfolio of media and entertainment businesses, and a global portfolio of premium properties. Also, TGE is a special purpose acquisition company (SPAC) sponsor manager, with its first SPAC successfully raised and priced on December 18, 2025.

For The Generation Essentials Group:
IR Office
The Generation Essentials Group
EMAIL: ir@tge.media

View original content:https://www.prnewswire.com/news-releases/amtds-tge-reports-full-year-results-with-27-7-increase-in-revenue-with-25-5-increase-in-total-assets-and-9-1-increase-in-net-assets-302757926.html

SOURCE The Generation Essentials Group

Continue Reading

Trending