Preformed Line Products stock surged 28% after the wire products manufacturer reported second-quarter earnings that crushed analyst forecasts. The company earned $4.49 per share on $212.7 million in sales, far above Wall Street expectations of $2.58 per share on $193 million in sales. Sales rose 25% year over year to a quarterly record, driven by 32% growth in the U.S. market, while gross margin expanded 1.6 percentage points to 34.3%. Management highlighted strong U.S. demand and a focus on domestic manufacturing as growth drivers, and noted the recent acquisition of Brazilian wire producer Delta Star is expected to accelerate sales to U.S. electrical substations and expand international sales in South America.
Preformed Line Products CompanyQ2 earnings crushed estimates with $4.49 EPS vs $2.58 expected, sales up 25% to record $212.7M
NVIDIA Corporation