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Segment Information (Tables)
6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Summary of Company's Reportable Segments

The following tables present a summary of the Company’s reportable operating segments for the three and six months ended June 30, 2023 and 2022. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profit in inventory.

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

 

2023

 

 

2022

 

2023

 

 

2022

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

96,977

 

 

$

83,422

 

$

194,155

 

 

$

159,347

 

The Americas

 

 

 

21,494

 

 

 

22,436

 

 

44,061

 

 

 

41,399

 

EMEA

 

 

 

37,306

 

 

 

32,845

 

 

76,340

 

 

 

60,317

 

Asia-Pacific

 

 

 

26,036

 

 

 

24,768

 

 

49,081

 

 

 

40,631

 

Total net sales

 

 

$

181,813

 

 

$

163,471

 

$

363,637

 

 

$

301,694

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

9,013

 

 

$

6,830

 

$

20,975

 

 

$

10,950

 

The Americas

 

 

 

4,296

 

 

 

4,142

 

 

8,509

 

 

 

6,857

 

EMEA

 

 

 

1,423

 

 

 

884

 

 

2,956

 

 

 

1,570

 

Asia-Pacific

 

 

 

6,094

 

 

 

8,064

 

 

13,103

 

 

 

14,748

 

Total intersegment sales

 

 

$

20,826

 

 

$

19,920

 

$

45,543

 

 

$

34,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

41,234

 

 

$

29,940

 

$

83,341

 

 

$

56,204

 

The Americas

 

 

 

8,198

 

 

 

7,967

 

 

16,185

 

 

 

13,332

 

EMEA

 

 

 

9,518

 

 

 

7,958

 

 

18,765

 

 

 

14,332

 

Asia-Pacific

 

 

 

7,377

 

 

 

6,841

 

 

14,320

 

 

 

10,789

 

Total gross profit

 

 

$

66,327

 

 

$

52,706

 

$

132,611

 

 

$

94,657

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Preformed Line Products Company shareholders

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

14,887

 

 

$

9,360

 

$

31,683

 

 

$

22,602

 

The Americas

 

 

 

2,750

 

 

 

2,637

 

 

4,639

 

 

 

2,566

 

EMEA

 

 

 

1,876

 

 

 

1,293

 

 

3,537

 

 

 

1,576

 

Asia-Pacific

 

 

 

959

 

 

 

422

 

 

2,011

 

 

 

(747

)

Total net income attributable to Preformed Line Products Company shareholders

 

 

$

20,472

 

 

$

13,712

 

$

41,870

 

 

$

25,997