October 28, 2026
Q3 2026 SUMMARYNet sales of $209.5 million, up 18% from Q3 2025, a third-quarter record
Gross profit margin of 33.4%, up 370 basis points from Q3 2025
Diluted EPS of $3.56 per share, up $3.03 from Q3 2025, a third-quarter record
Excluding the Q3 2025 pension plan termination, Adjusted EPS rose 70% year-over-year, from $2.09 in Q3 2025 to $3.56 in Q3 2026
Cash Flow from Operations up 95% from Q3 2025 and 32% for the nine-month period ended September 30, 2026
Purchase of a new Canadian facility in July 2026 for $16.7 million will expand capacity and support future growth initiatives
Q3 2026 HIGHLIGHTS$ Millions, except per share amounts
Q3 2026 | Q3 2025 | YoY | |
Net Sales | $209.5 | $178.1 | 18% |
Gross Profit | $70.0 | $52.8 | 32% |
Gross Profit % | 33.4% | 29.7% | 370 bps |
Net Income | $18.0 | $2.6 | 587% |
Net Income % | 8.6% | 1.5% | 710 bps |
Diluted EPS | $3.56 | $0.53 | 572% |
Adjusted EPS* | $3.56 | $2.09 | 70% |
Net Sales
Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
$173.1
$176.3
$178.1
$209.5
$212.7
Gross Profit %
Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
29.8%
29.7%
31.3%
33.4%
34.3%
* See reconciliation to diluted earnings per share in Appendix.
Sales up 18% compared to prior year
PLP-USA surpasses $100 million in sales for the second consecutive quarter
Record sales of $598.5 million for the nine months ended Q3 2026
Profitability gains continue to be fueled by strong core market demand, strategic pricing, and fixed cost leverage. Tariffs and commodity costs continue to provide cost headwinds
Diluted EPS
Q3 Q3 2025 Q4
2025 Adjusted 2025 EPS*
Q4 2025
Q2 2026
Q3 2026
$0.53
1.72
$2.14
$2.09
$3.56
$4.49
$ Millions, except per share amounts
Gross profit margin up in all segments year-over-year
700 BPS increase in PLP-USA
Driven by favorable product mix, fixed cost leverage and price increases enacted in 2025 and 2026
36.3%
29.3%
33.1%
31.4% 30.9% 32.6%
27.4%
25.8%
PLP-USA The
Americas
EMEA Asia-Pacific
Q3 2026 Q3 2025
DISAGGREGATED REVENUE$ Millions
ENERGY
$122.9
$129.8
$125.2
$148.9
Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
COMMUNICATIONSSales growth of 28% vs Q3 2025 and 6% vs Q2 2026
$157.1
46% year-over-year growth for PLP-USA driven by strength in transmission and distribution end markets
Asia-Pacific grew 28% versus Q3 2025 and 17% versus Q2 2026, led by the substation market
The Q2 acquisition of Delta Star contributed sales of $2.6 million in Q3 2026
$41.0
$32.9
$42.3
$39.8
$48.9
Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
SPECIAL INDUSTRIESThe decline in communication sales versus Q2 2026 and Q3 2025 reflects a timing shift, with orders accelerated into the first half of 2026 from Q3 2026 and Q4 2026
$10.4
$8.8
$12.6
$14.2
$14.9
Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Special Industries sales down from both Q2 2026 and Q3 2025 due to softness in the PLP-USA and EMEA services and other industries end markets
BALANCE SHEET & LIQUIDITYWith a healthy balance sheet and robust liquidity, we are well-positioned to drive growth through strategic acquisitions, modernize our facilities, and deliver consistent returns to shareholders through our quarterly dividend.
$6.1
Credit Facility
(as of September 30, 2026)
Capacity:
$60
International Borrowings
Credit Facility Availability
$53.9
90% availability on global Credit Facility ($6.1 million borrowed)
YTD Cash flow from operations was $68.1 million
Bank debt to equity ratio of 10.9%
Additional US borrowings of $9.1 million outside of Credit Facility (aircraft)
Additional international borrowings outside of the Credit Facility were
$40.8 million as of September 30, 2026
On July 28, 2026, PLP Canada entered into $10.6 million term loan to refinance the facility purchased on July 21, 2026
Manageable debt maturities over the next several years
$ Millions
Q3 2026
Q4 2025
Cash and Cash Equivalents
$99.3
$83.4
Total Debt & Future Aggregate Maturities*
$89.5
$62.2
$55.9
$39.5
$28.6
$12.4 $16.0
$17.2
$1.6
$8.5
$5.7
2022 2023 2024 2025 Q3 2026 2027 2028 2029 2030 2031+
2026
Aggregate Maturities*
* Aggregate maturities reflects the outstanding and non-outstanding portion of payments under current and long-term debt arrangements.
FREE CASH FLOWQ3 2026 Cash flow from operations of $36.8M
Highest quarterly cash flow from operations since Q3 2023
Decrease in Free Cash Flow from Q2 2026 driven by increased CAPEX for the Canada facility purchased in July 2026
Free Cash Flow ($ in millions)
(37)%
$18.3
$8.5
$10.2
$11.7
85% 57%
$(3.9)
Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026Free Cash Flow FCF Conversion
See reconciliation to net cash provided by operating activities in Appendix.
Below is a reconciliation of non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with GAAP. (Thousands, except per share data)
Reconciliation of adjusted earnings: | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
Net income attributable to PLPC shareholders | $ 2,626 | $ 8,435 | $ 10,524 | $ 21,508 | $ 18,036 |
Pension plan termination expense, after tax | 7,721 | - | - | - | - |
Adjusted net income | $ 10,347 | $ 8,435 | $ 10,524 | $ 21,508 | $ 18,036 |
Diluted earnings per share | $ 0.53 | $ 1.72 | $ 2.14 | $ 4.49 | $ 3.56 |
Per share impact of pension plan termination expense, after tax | 1.56 | - | - | - | - |
Adjusted diluted earnings per share | $ 2.09 | $ 1.72 | $ 2.14 | $ 4.49 | $ 3.56 |
Reconciliation of operating cash flow to free cash flow: | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
Net cash provided by operating activities | $ 18,940 | $ 21,944 | $ 6,047 | $ 25,215 | $ 36,832 |
Capital expenditures | (10,623) | (10,155) | (9,993) | (6,957) | (26,702) |
Proceeds from the sale of property and equipment | 227 | (51) | 49 | 36 | 76 |
Free Cash Flow | $ 8,544 | $ 11,738 | $ (3,897) | $ 18,294 | $ 10,206 |
Adjusted net income | $ 10,347 | $ 8,435 | $ 10,524 | $ 21,508 | $ 18,036 |
Free cash flow conversion | 83% | 139% | (37%) | 85 % | 57% |
Free cash flow - Trailing twelve month | $ 36,341 | ||||
Adjusted net income - Trailing twelve month | $ 58,503 | ||||
Free cash flow conversion - Trailing twelve month | 62% |
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