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Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information

Note 13 – Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated by the CODM, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance.

The following tables present a summary of the Company’s reportable operating segments for the three and six months ended June 30, 2024 and 2023. 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,

 

 

 

 

2024

 

 

2023

 

2024

 

 

2023

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

59,900

 

 

$

96,977

 

$

130,637

 

 

$

194,155

 

The Americas

 

 

 

21,815

 

 

 

21,494

 

 

40,173

 

 

 

44,061

 

EMEA

 

 

 

32,039

 

 

 

37,306

 

 

60,693

 

 

 

76,340

 

Asia-Pacific

 

 

 

24,966

 

 

 

26,036

 

 

48,122

 

 

 

49,081

 

Total net sales

 

 

$

138,720

 

 

$

181,813

 

$

279,625

 

 

$

363,637

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

2,812

 

 

$

9,013

 

$

5,158

 

 

$

20,975

 

The Americas

 

 

 

1,947

 

 

 

4,296

 

 

4,414

 

 

 

8,509

 

EMEA

 

 

 

1,424

 

 

 

1,423

 

 

2,798

 

 

 

2,956

 

Asia-Pacific

 

 

 

3,501

 

 

 

6,094

 

 

7,265

 

 

 

13,103

 

Total intersegment sales

 

 

$

9,684

 

 

$

20,826

 

$

19,635

 

 

$

45,543

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

20,743

 

 

$

41,234

 

$

45,439

 

 

$

83,341

 

The Americas

 

 

 

6,712

 

 

 

8,198

 

 

11,678

 

 

 

16,185

 

EMEA

 

 

 

9,364

 

 

 

9,518

 

 

17,682

 

 

 

18,765

 

Asia-Pacific

 

 

 

7,454

 

 

 

7,377

 

 

13,606

 

 

 

14,320

 

Total gross profit

 

 

$

44,273

 

 

$

66,327

 

$

88,405

 

 

$

132,611

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Preformed Line Products Company shareholders

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

3,345

 

 

$

14,887

 

$

8,661

 

 

$

31,683

 

The Americas

 

 

 

1,796

 

 

 

2,750

 

 

2,693

 

 

 

4,639

 

EMEA

 

 

 

2,975

 

 

 

1,876

 

 

4,555

 

 

 

3,537

 

Asia-Pacific

 

 

 

1,250

 

 

 

959

 

 

3,053

 

 

 

2,011

 

Total net income attributable to Preformed Line Products Company shareholders

 

 

$

9,366

 

 

$

20,472

 

$

18,962

 

 

$

41,870