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Segment Information
9 Months Ended
Sep. 30, 2023
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 chief operating decision maker, 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 nine months ended September 30, 2023 and 2022. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profit in inventory.

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

 

2023

 

 

2022

 

2023

 

 

2022

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

81,727

 

 

$

88,960

 

$

275,882

 

 

$

248,307

 

The Americas

 

 

 

22,790

 

 

 

23,780

 

 

66,852

 

 

 

65,179

 

EMEA

 

 

 

28,798

 

 

 

31,139

 

 

105,138

 

 

 

91,456

 

Asia-Pacific

 

 

 

27,124

 

 

 

21,523

 

 

76,205

 

 

 

62,155

 

Total net sales

 

 

$

160,438

 

 

$

165,402

 

$

524,076

 

 

$

467,097

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

4,083

 

 

$

7,515

 

$

25,058

 

 

$

18,465

 

The Americas

 

 

 

4,515

 

 

 

4,899

 

 

13,024

 

 

 

11,756

 

EMEA

 

 

 

3,514

 

 

 

992

 

 

6,470

 

 

 

2,563

 

Asia-Pacific

 

 

 

5,611

 

 

 

8,957

 

 

18,714

 

 

 

23,703

 

Total intersegment sales

 

 

$

17,723

 

 

$

22,363

 

$

63,266

 

 

$

56,487

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

30,672

 

 

$

34,547

 

$

114,012

 

 

$

90,751

 

The Americas

 

 

 

8,053

 

 

 

10,124

 

 

24,239

 

 

 

23,456

 

EMEA

 

 

 

7,434

 

 

 

7,445

 

 

26,199

 

 

 

21,777

 

Asia-Pacific

 

 

 

7,977

 

 

 

6,177

 

 

22,298

 

 

 

16,966

 

Total gross profit

 

 

$

54,137

 

 

$

58,293

 

$

186,748

 

 

$

152,950

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Preformed Line Products Company shareholders

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

9,080

 

 

$

10,802

 

$

40,761

 

 

$

33,404

 

The Americas

 

 

 

1,411

 

 

 

5,450

 

 

6,050

 

 

 

8,016

 

EMEA

 

 

 

1,137

 

 

 

1,218

 

 

4,675

 

 

 

2,794

 

Asia-Pacific

 

 

 

3,502

 

 

 

(5,583

)

 

5,514

 

 

 

(6,330

)

Total net income attributable to Preformed Line Products Company shareholders

 

 

$

15,130

 

 

$

11,887

 

$

57,000

 

 

$

37,884