Here are 1-3 brief analogies for Preformed Line Products (PLPC):

• PLPC is like a specialized TE Connectivity, focusing on the critical physical hardware for power grids and communication networks.
• PLPC is like a focused Eaton or Schneider Electric, specializing in the essential hardware that supports and connects overhead and underground power and communication infrastructure.
• PLPC is like an Illinois Tool Works (ITW) that is entirely dedicated to manufacturing specialized line hardware for utility and telecommunication companies.

• Conductor & Cable Hardware: Products designed to support, protect, terminate, and splice electrical conductors and cables for power transmission and distribution lines.
• Fiber Optic Cable Management: Solutions for securing, protecting, and terminating fiber optic cables in telecommunications networks.
• Solar Mounting Systems: Structural systems and hardware for installing solar panels in ground-mount and rooftop applications.
• Guying & Anchoring Products: Hardware used to brace, support, and anchor utility poles and other structures.

Major Customers of Preformed Line Products (PLPC)

Preformed Line Products (PLPC) sells primarily to other companies (Business-to-Business).

Based on their SEC filings, no single customer accounted for 10% or more of PLPC's consolidated net sales during 2023, 2022, or 2021. This indicates a diversified customer base within specific industry sectors.

PLPC's major customers can be categorized as companies within the following industries. While PLPC serves numerous companies within each category, representative examples of public companies operating in these sectors are provided below to illustrate the types of customers PLPC typically serves:

• Electrical Utilities: These include investor-owned, municipal, and cooperative utilities that are involved in the construction and maintenance of overhead and underground power transmission and distribution lines.
  • Examples of public companies in this sector:
  • Duke Energy (NYSE: DUK)
  • Southern Company (NYSE: SO)
  • NextEra Energy (NYSE: NEE)
• Telecommunications Companies: This category encompasses national, regional, and independent telephone companies, cable television companies, and network and data center operators. They are customers for fiber optic and copper cable accessories and network infrastructure.
  • Examples of public companies in this sector:
  • AT&T (NYSE: T)
  • Verizon (NYSE: VZ)
  • Comcast (NASDAQ: CMCSA)
  • Lumen Technologies (NYSE: LUMN)
• Solar Industry Players: These customers primarily include solar project developers, engineering, procurement, and construction (EPC) companies, and distributors that serve the solar industry. They utilize PLPC's mounting hardware and related components for solar panel installations.
  • Examples of public companies that might be customers or operate in this sector:
  • Sunrun (NASDAQ: RUN)
  • First Solar (NASDAQ: FSLR)
  • WESCO International (NYSE: WCC) (a distributor of electrical and industrial products)

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Dennis F. McKenna Chief Executive Officer

Dennis F. McKenna was appointed Chief Executive Officer of Preformed Line Products, effective January 1, 2024. Mr. McKenna joined the company in 1993 and has progressed through various leadership roles over his 30-year career. Prior to becoming CEO, he served as Chief Operating Officer, with primary responsibility for overseeing global operations and business development teams. As CEO, he is focused on continuing to expand the company's global sales, engineering, and manufacturing capabilities.

Andrew S. Klaus Chief Financial Officer and Principal Accounting Officer

Andrew S. Klaus serves as the Chief Financial Officer and Principal Accounting Officer of Preformed Line Products.

Robert G. Ruhlman Executive Chairman

Robert G. Ruhlman transitioned from CEO to Executive Chairman of Preformed Line Products, effective January 1, 2024. He had served as CEO since 2000 or 2001. Previously, he also held the titles of Chairman and President.

J. Ryan Ruhlman President

J. Ryan Ruhlman was named President of Preformed Line Products in May 2023. He also serves as a Director and Vice President of Marketing & Business Development. His responsibilities include driving the company's business development objectives, marketing strategies, and people-centric goals.

John M. Hofstetter Executive Vice President, US Operations

John M. Hofstetter is the Executive Vice President, US Operations for Preformed Line Products. He has also been noted as Vice President, Global Communications Markets & Business Development.

The key risks to Preformed Line Products (PLPC) primarily stem from its reliance on raw materials, the impact of global trade policies, and the competitive nature of its markets.

1. Raw Material Cost and Supply Chain Vulnerabilities: PLPC's gross margins are highly susceptible to fluctuations in the cost and availability of key raw materials such as aluminum, steel, and zinc. Disruptions in the supply chain or significant price volatility for these commodities can directly impact the company's production capabilities and financial performance.
2. Regulatory Changes and Tariffs: The company faces ongoing challenges from regulatory changes and the imposition of tariffs, particularly those affecting steel and aluminum (e.g., Section 232 tariffs). These can increase input costs and potentially reduce customer demand. While PLPC attempts to mitigate these impacts through price increases, there is no guarantee that all increased costs can be passed on to customers.
3. Market Competition: Preformed Line Products operates in highly competitive global markets across the energy and telecommunications sectors. Maintaining market share and profitability necessitates continuous innovation, effective cost management, and strategic adaptation to evolving industry trends and customer needs.

Preformed Line Products (PLPC) operates in several key markets, providing products and systems for energy, telecommunication, and solar industries. The addressable market sizes for their main product categories are as follows:

• Fiber Optic Cable Accessories: The global fiber optic cable accessories market was valued at approximately USD 7.26 billion in 2022 and is projected to reach USD 14.96 billion by 2030, with a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. North America held a significant share of this market, accounting for 37.75% in 2019.

• Overhead Line Products (including cable anchoring and control hardware, transmission line hardware, and distribution line components): The global overhead line product market was valued at USD 20.6 billion in 2024 and is expected to reach USD 30.0 billion by 2030, growing at a CAGR of 6.30%. Another estimate places the global overhead wires and cables market size at USD 172.90 billion in 2024, projected to reach USD 274.81 billion by 2032. Asia Pacific dominated the overhead wires and cables market with a 44.36% share in 2024, while North America is anticipated to be the largest market for overhead line products, holding over 32% of the market share in 2025.

• Underground Line Products (including cable anchoring and control hardware for underground networks and underground distribution products): The global underground wires and cables market size was valued at USD 32.87 billion in 2024 and is projected to reach USD 58.49 billion by 2032, exhibiting a CAGR of 6.67%. Europe held the largest share of the underground wires and cables market at 49.34% in 2024. Another source indicates the global underground cable market is projected to reach approximately USD 102.5 billion by 2032.

• Solar Hardware Systems (for renewable energy applications): The global solar energy market was valued at USD 0.4 trillion in 2024 and is projected to reach USD 1.6 trillion by 2034, growing at a CAGR of 15.2% from 2025 to 2034. Asia-Pacific dominated the solar energy market, accounting for more than one-third of the market share in 2024. North America also held a significant share, at 41.30% of the global solar power market in 2023.

Preformed Line Products (PLPC) is expected to drive future revenue growth over the next 2-3 years through several key factors:

1. Sustained Demand in Energy and Communications Sectors: PLPC anticipates continued strong demand within both the energy and communication industries. The company's PLP-USA segment, in particular, has demonstrated robust performance and increased sales volumes in these core markets, contributing significantly to overall revenue growth.
2. Strategic Acquisitions and International Market Expansion: Acquisitions, such as the recent purchase of JAP Telecom, are projected to contribute incremental communication sales and add to annual revenue. Beyond acquisitions, international segments, including the Americas and Asia-Pacific, have also shown growth in energy product sales, indicating broader global expansion efforts.
3. Implementation of Price Increases: The company has announced selling price increases on new orders, which are expected to contribute to revenue and help offset other operational costs, such as tariffs.
4. Recovery in the Communications End Market: Despite previous slowdowns, there is optimism regarding a potential end to inventory destocking in the communications end market. An increase in order backlog suggests a future improvement in customer demand, which is anticipated to drive a recovery and subsequent growth in this sector.
5. Focus on Product Development and Manufacturing Efficiency: PLPC continues to prioritize investment in product development and enhancing manufacturing efficiency. This strategic focus is aimed at leveraging favorable market conditions and ensuring the company remains competitive with high-quality offerings and streamlined operations.

Share Repurchases

• Preformed Line Products announced an equity buyback plan on March 20, 2020.
• On November 1, 2023, the company increased its authorized equity buyback plan by an additional 212,952 shares, bringing the total authorization to 634,788 shares.

Share Issuance

• The number of common shares outstanding slightly decreased from 5,023,812 as of March 2, 2020, to approximately 4,940,991 as of February 21, 2025.

Outbound Investments

• Preformed Line Products acquired Brazil-based JAP Telecom in May 2025 to enhance its communications offerings in The Americas.
• The company's strategic initiatives include expanding its global manufacturing network and product portfolio through mergers and acquisitions.
• Reduced acquisition activity was noted in 2024.

Capital Expenditures

• Capital spending for Q3 2025 was $30.0 million, primarily directed towards EMEA capacity, including a PLN 100.3 million Poland plant loan.
• Capital expenditures were reduced in 2024, contributing to strong cash generation.
• The company plans to continue investing in new product development, facility modernization, and automation for its global manufacturing operations.