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Item 1. Financial Statements

2026-07-30 compared with 2026-04-30 · 212 added, 73 removed, 454 unchanged (39% of the section changed)

2 unchanged sentences

CONSOLIDATED BALANCE SHEETS

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

(Thousands of dollars, except share and per share data) (Unaudited)

27 unchanged sentences

SHAREHOLDERS' EQUITY

Common shares $ 2 par value per share, 15,000,000 shares authorized, 4,888,012 and 4,907,787 issued and outstanding, at March 31, 2026 and December 31, 2025

Common shares $ 2 par value per share, 15,000,000 shares authorized, 4,880,701 and 4,907,787 issued and outstanding, at June 30, 2026 and December 31, 2025

13,893 13,860

Common shares issued to rabbi trust, 222,506 and 222,506 shares at March 31, 2026 and December 31, 2025, respectively

Common shares issued to rabbi trust, 222,506 and 222,506 shares at June 30, 2026 and December 31, 2025, respectively

( 9,586 ) ( 9,586 )

2 unchanged sentences

Retained earnings 614,326 584,360

Treasury shares, at cost, 2,056,379 and 2,021,940 shares at March 31, 2026 and December 31, 2025, respectively

Treasury shares, at cost, 2,065,490 and 2,021,940 shares at June 30, 2026 and December 31, 2025, respectively

( 148,777 ) ( 136,554 )

7 unchanged sentences

STATEMENTS OF CONSOLIDATED INCOME

Three Months Ended March 31,

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

(Thousands, except per share data)

6 unchanged sentences

Research and engineering 7,155 5,695 13,891 11,174

Other operating (income) expense, net ( 54 ) 255

Other operating expense, net 1,038 823 984 1,078

45,110 38,275 86,614 73,816

4 unchanged sentences

Other income, net 149 116 218 523

544 182 1,158 723

INCOME BEFORE INCOME TAXES 28,446 17,306 42,776 30,977

1 unchanged sentence

NET INCOME $ 21,508 $ 12,700 $ 32,057 $ 24,253

Net income attributable to noncontrolling interests ( 25 ) ( 36 )

Net expense (income) attributable to noncontrolling interests — 5 ( 25 ) ( 31 )

NET INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS $ 21,508 $ 12,705 $ 32,032 $ 24,222

8 unchanged sentences

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

Three Months Ended March 31,

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

(Thousands of dollars)

Net income $ 21,508 $ 12,700 $ 32,057 $ 24,253

Other comprehensive (loss) income, net of tax:

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustment 1,287 13,681 ( 138 ) 20,352

Pension adjustment, net of tax — 123 — 246

Other comprehensive (loss) income, net of tax ( 1,425 ) 6,794

Comprehensive income attributable to noncontrolling interests ( 25 ) ( 36 )

Other comprehensive income (loss), net of tax 1,287 13,804 ( 138 ) 20,598

Comprehensive expense (income) attributable to noncontrolling interests — 5 ( 25 ) ( 31 )

COMPREHENSIVE INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS $ 22,795 $ 26,509 $ 31,894 $ 44,820

2 unchanged sentences

STATEMENTS OF CONSOLIDATED CASH FLOWS

Three Months Ended March 31,

Six Months Ended June 30,

(Thousands of dollars)

14 unchanged sentences

Purchases of investments — ( 451 )

Acquisition of businesses, net of cash ( 9,058 ) ( 4,180 )

NET CASH USED IN INVESTING ACTIVITIES ( 25,923 ) ( 22,209 )

8 unchanged sentences

Purchase of common shares for treasury from related parties ( 11,285 ) ( 3,232 )

Other — ( 1,474 )

NET CASH USED IN FINANCING ACTIVITIES ( 13,010 ) ( 4,790 )

Effects of exchange rate changes on cash, cash equivalents and restricted cash 494 4,080

Net decrease in cash, cash equivalents and restricted cash ( 13,937 ) ( 2,409 )

Net (decrease) increase in cash, cash equivalents and restricted cash ( 7,177 ) 9,664

Cash, cash equivalents and restricted cash at beginning of year 83,389 57,244

9 unchanged sentences

Foreign currency translation adjustment ( 1,425 ) ( 1,425 ) ( 1,425 )

Pension adjustment, net of tax — —

Total comprehensive income 9,099 25 9,124

2 unchanged sentences

Stock incentive plan activity

30 ( 1,170 ) ( 1,140 ) ( 1,140 )

Common shares issued to rabbi trust of 0 , net

2 unchanged sentences

Balance at March 31, 2026 $ 13,890 $ ( 9,586 ) $ 9,586 $ 66,047 $ 593,869 $ ( 145,492 ) $ ( 54,790 ) $ — $ 473,524 $ 58 $ 473,582

Net income 21,508 21,508 — 21,508

Foreign currency translation adjustment 1,287 1,287 — 1,287

Total comprehensive income 22,795 — 22,795

Purchase of 9,111 common shares

( 3,285 ) ( 3,285 ) ( 3,285 )

Stock incentive plan activity

3 2,557 2,560 2,560

Common shares issued to rabbi trust of 0 , net

Cash dividends declared – $ 0.21 per share

( 1,051 ) ( 1,051 ) ( 1,051 )

Balance at June 30, 2026 $ 13,893 $ ( 9,586 ) $ 9,586 $ 68,604 $ 614,326 $ ( 148,777 ) $ ( 53,503 ) $ — $ 494,543 $ 58 $ 494,601

PREFORMED LINE PRODUCTS COMPANY

STATEMENTS OF CONSOLIDATED SHAREHOLDERS' EQUITY

Accumulated Other Comprehensive Income (Loss)

14 unchanged sentences

Balance at March 31, 2025 $ 13,820 $ ( 9,594 ) $ 9,594 $ 62,205 $ 563,678 $ ( 127,812 ) $ ( 70,865 ) $ ( 5,250 ) $ 435,776 $ 45 $ 435,821

Net income 12,705 12,705 ( 5 ) 12,700

Foreign currency translation adjustment 13,681 13,681 13,681

Pension adjustment, net of tax 123 123 123

Total comprehensive income 26,509 ( 5 ) 26,504

Stock incentive plan activity

Purchase of 17,028 common shares

( 2,351 ) ( 2,351 ) ( 2,351 )

Common shares distributed from rabbi trust of 134 , net

( 19 ) 19 — —

Cash dividends declared – $ 0.20 per share

( 1,015 ) ( 1,015 ) ( 1,015 )

Balance at June 30, 2025 $ 13,823 $ ( 9,613 ) $ 9,613 $ 64,019 $ 575,368 $ ( 130,163 ) $ ( 57,184 ) $ ( 5,127 ) $ 460,736 $ 40 $ 460,776

See notes to consolidated financial statements (unaudited).

10 unchanged sentences

In the opinion of management, these consolidated financial statements contain all estimates and adjustments, consisting of normal recurring accruals, required to fairly present the financial position, results of operations, and cash flows for the interim periods.

Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full-year ending December 31, 2026.

Operating results for the three and six months ended June 30, 2026 are not necessarily indicative of the results to be expected for the full-year ending December 31, 2026.

Noncontrolling interests are presented in the Company’s consolidated financial statements as if parent company investors (controlling interests) and other minority investors (noncontrolling interests) in partially-owned subsidiaries have similar economic interests in a single entity.

29 unchanged sentences

The Company’s revenues by segment and product type are as follows:

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Product Type PLP-USA The Americas EMEA Asia-Pacific Consolidated

3 unchanged sentences

Total 100 % 100 % 100 % 100 % 100 %

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Product Type PLP-USA The Americas EMEA Asia-Pacific Consolidated

3 unchanged sentences

Total 100 % 100 % 100 % 100 % 100 %

Six Months Ended June 30, 2026

Product Type PLP-USA The Americas EMEA Asia-Pacific Consolidated

Energy 66 % 79 % 73 % 75 % 71 %

Communications 31 % 20 % 20 % 3 % 23 %

Special Industries 3 % 1 % 7 % 22 % 6 %

Total 100 % 100 % 100 % 100 % 100 %

Six Months Ended June 30, 2025

Product Type PLP-USA The Americas EMEA Asia-Pacific Consolidated

Energy 61 % 84 % 71 % 76 % 70 %

Communications 34 % 15 % 21 % 3 % 23 %

Special Industries 5 % 1 % 8 % 21 % 7 %

Total 100 % 100 % 100 % 100 % 100 %

Credit Losses for Receivables

2 unchanged sentences

Additionally, the allowance is based upon identified delinquent accounts, customer payment patterns and other analyses of historical data trends.

Receivable balances are written off against an allowance for credit losses after a final determination has been made.

Receivable balances

are written off against an allowance for credit losses after a final determination has been made.

The change in the allowance for credit losses includes expense and net write-offs, which are identified in the following table:

Three Months Ended March 31,

Six Months Ended June 30,

Allowance for credit losses, beginning of period $ 5,797 $ 6,958

Additions (reductions) charged to costs and expenses 439 ( 67 )

Additions charged to costs and expenses 786 296

Write-offs — ( 141 )

5 unchanged sentences

The components of inventory are as follows:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Raw materials $ 97,693 $ 95,988

4 unchanged sentences

Inventories at LIFO cost $ 147,815 $ 148,730

Costs for inventories of certain material, mainly in the U.S., are determined using the Last-In First-Out ("LIFO") method and totaled approximately $ 45.3 million at March 31, 2026 and $ 45.8 million at December 31, 2025.

Costs for inventories of certain material, mainly in the U.S., are determined using the Last-In First-Out ("LIFO") method and totaled approximately $ 40.0 million at June 30, 2026 and $ 45.8 million at December 31, 2025.

An actual valuation of inventories under the LIFO method can be made only at the end of the year based on the inventory levels and costs at that time.

1 unchanged sentence

Because these estimates are subject to change and may be different than the actual inventory levels and costs at the end of the year, interim results are subject to the final year-end LIFO inventory valuation.

During the three-month periods ended March 31, 2026 and 2025, the net change in LIFO inventories resulted in an expense of $ 0.6 million and $ 0.5 million, respectively, to Cost of products sold.

The Company’s reserves for excess and obsolete inventory were $ 16.9 million at March 31, 2026 and $ 17.7 million at December 31, 2025.

During the three-month periods ended June 30, 2026 and 2025, the net change in LIFO inventories resulted in an expense of $ 0.6 million and $ 1.9 million, respectively, to Cost of products sold.

During the six-month periods ended June 30, 2026 and 2025, the net change in LIFO inventories resulted in expense of $ 1.2 million and of $ 2.4 million, respectively, to Cost of products sold.

The Company’s reserves for excess and obsolete inventory were $ 16.3 million at June 30, 2026 and $ 17.7 million at December 31, 2025.

NOTE 4 - PROPERTY AND EQUIPMENT, NET

Major classes of property, plant and equipment are as follows:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Land and improvements $ 25,824 $ 27,293

5 unchanged sentences

Property, plant and equipment, net $ 227,558 $ 222,781

Subsequent Event - Purchase of Property

On July 21, 2026, PLP Canada LTD ("PLP Canada"), a subsidiary of the Company, acquired a facility and the related property for a purchase price of approximately $ 16.7 million.

The newly acquired facility will replace PLP Canada's existing facility and is intended to expand PLP Canada's manufacturing capacity and support future growth initiatives.

Because the acquisition occurred subsequent to June 30, 2026, the transaction has not been reflected in the accompanying consolidated financial statements.

The purchase was funded with cash on hand.

Subsequent to the facility purchase, PLP Canada obtained a term loan to finance a portion of the facility's purchase price.

for further detail on the term loan.

NOTE 5 - CONTINGENCIES AND OTHER LIABILITIES

6 unchanged sentences

The Company is not a party to any pending legal proceedings that the Company believes would, individually or in the aggregate, have a material adverse effect on its financial condition, results of operations or cash flow.

For the period ending March 31, 2026 and the year ending December 31, 2025, there were no reserves for known global legal matters.

For the period ending June 30, 2026 and the year ending December 31, 2025, there were no reserves for known global legal matters.

Advanced Customer Payments

As of March 31, 2026 and December 31, 2025, the Company has included $ 11.4 million and $ 4.7 million, respectively of advanced payments by customers for future projects in Accrued expenses and other liabilities on the Consolidated Balance Sheets.

As of June 30, 2026 and December 31, 2025, the Company has included $ 14.3 million and $ 4.7 million, respectively of advanced payments by customers for future projects in Accrued expenses and other liabilities on the Consolidated Balance Sheets.

Tariff Considerations

3 unchanged sentences

Customs and Border Protection (“CBP”) must refund duties imposed under IEEPA.

The Company continues to monitor the refund process, which remains uncertain.

As such, the Company has not recorded any amounts in the consolidated financial statements related to any potential refunds for the period ended March 31, 2026.

During the three and six month periods ended June 30, 2026, the Company received certain refunds of duties imposed under IEEPA;

however, the amounts received did not have a material impact on the consolidated financial statements.

While the Company is actively engaged in the refund process, uncertainty persists with respect to the timing and magnitude of future refunds.

NOTE 6 - PENSION PLANS

6 unchanged sentences

Plan and purchased an annuity contract through a financial institution for approximately $ 18.0 million to fully liquidate the U.S.

As of the year ended December 31, 2025, the Company recorded a total non-cash pre-tax charge associated with the U.S.

As of the year ended December 31, 2025, the Company recorded a total non-cash pre-tax charge associated

with the U.S.

Plan termination of $ 11.7 million, of which $ 8.8 million represents the acceleration of deferred charges previously accrued in accumulated other comprehensive loss and $ 2.9 million represents the actuarial loss.

Due to the termination of the U.S.

Plan in August 2025, there was no net periodic pension expense for three months ended March 31, 2026.

The following is the net periodic pension expense for the U.S.

Plan for three-month period ended March 31, 2025:

Plan in August 2025, there was no net periodic pension expense for the three and six months ended June 30, 2026.

Excluding the pension termination charges, net periodic pension expense for the U.S.

Plan for the three- and six-month periods ended June 30, 2025, respectively, follows:

Three Months Ended

March 31, 2025

June 30, 2025 Six Months Ended

June 30, 2025

Interest cost $ 395 $ 790

2 unchanged sentences

Net periodic pension expense $ 204 $ 409

The Company made no contribution to the U.S.

Plan for the three-month periods ended March 31, 2026 and March 31, 2025.

Components of the recurring pension expense are included in Other income, net in the Consolidated Statements of Income.

There were no contributions to the U.S.

Plan during the six months ended June 30, 2025.

NOTE 7 - ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")

The following tables set forth the total changes in AOCI by component, net of tax:

Three Months Ended March 31, 2026 Three Months Ended March 31, 2025

Three Months Ended June 30, 2026 Three Months Ended June 30, 2025

Benefit Cost Cumulative

2 unchanged sentences

Adjustment Total

Balance at April 1 $ — $ ( 54,790 ) $ ( 54,790 ) $ ( 5,250 ) $ ( 70,865 ) $ ( 76,115 )

Other comprehensive income (loss) before reclassifications:

Foreign currency translation adjustment — 1,287 1,287 — 13,681 13,681

Amounts reclassified from AOCI:

Amortization of defined benefit pension activity (a) — — — 123 — 123

Net current period other comprehensive income — 1,287 1,287 123 13,681 13,804

Balance at June 30 $ — $ ( 53,503 ) $ ( 53,503 ) $ ( 5,127 ) $ ( 57,184 ) $ ( 62,311 )

Six Months Ended June 30, 2026 Six Months Ended June 30, 2025

Benefit Cost Cumulative

Adjustment Total

Benefit Cost Cumulative

Adjustment Total

Balance at January 1 $ — $ ( 53,365 ) $ ( 53,365 ) $ ( 5,373 ) $ ( 77,536 ) $ ( 82,909 )

4 unchanged sentences

Net current period other comprehensive (loss) income — ( 138 ) ( 138 ) 246 20,352 20,598

Balance at March 31 $ — $ ( 54,790 ) $ ( 54,790 ) $ ( 5,250 ) $ ( 70,865 ) $ ( 76,115 )

Balance at June 30 $ — $ ( 53,503 ) $ ( 53,503 ) $ ( 5,127 ) $ ( 57,184 ) $ ( 62,311 )

(a) This AOCI component is included in the computation of net periodic pension expense as noted in Note 6 – Pension Plans.

1 unchanged sentence

PNC Bank Credit Facility

As of March 31, 2026, the Company maintained a credit facility (the "Facility") with PNC Bank, National Association ("PNC") with a capacity of $ 60.0 million and a maturity date of June 30, 2028.

As of June 30, 2026, the Company maintained a credit facility (the "Facility") with PNC Bank, National Association ("PNC") with a capacity of $ 60.0 million and a maturity date of June 30, 2028.

The interest rate is defined as the Secured Overnight Financing Rate (“SOFR”) plus 1.225 % unless the Company’s funded debt to Earnings before Interest, Taxes and Depreciation ratio exceeds 3.00 to 1, at which point the SOFR spread becomes 1.600 %.

At March 31, 2026, the Company had utilized $ 7.1 million with $ 52.9 million available on the Facility.

There were no long-term outstanding letters of credit on the Facility as of March 31, 2026.

At June 30, 2026, the Company had utilized $ 6.7 million with $ 53.3 million available on the Facility.

There were no long-term outstanding letters of credit on the Facility as of June 30, 2026.

Our bank debt to equity percentage was 8.6 %.

The Facility contains, among other provisions, requirements for maintaining levels of net worth and profitability.

At March 31, 2026, the Company was in compliance with these covenants.

At June 30, 2026, the Company was in compliance with these covenants.

Corporate Aircraft Term Loan

2 unchanged sentences

The loan is payable in 119 equal monthly installments, which commenced on March 1, 2021 with a final payment of any outstanding principal and accrued interest due and payable on the final monthly payment date.

Of the $ 10.1 million outstanding on this debt facility at March 31, 2026, $ 2.1 million was classified as current.

Of the $ 9.6 million outstanding on this debt facility at June 30, 2026, $ 2.1 million was classified as current.

The aircraft has been pledged as collateral against the loan.

1 unchanged sentence

The Company has other borrowing facilities at certain of its foreign subsidiaries, which consist of overdraft lines, working capital credit lines, and facilities for the issuance of letters of credit and short-term borrowing needs.

At March 31, 2026, and December 31, 2025, $ 24.8 million and $ 20.9 million were outstanding, of which $ 5.2 million and $ 4.6 million were classified as current, respectively.

Of the $ 24.8 million outstanding at March 31, 2026, $ 16.5 million is attributable to the Poland subsidiary and $ 7.5 million is attributable to the Spain subsidiary.

At June 30, 2026, and December 31, 2025, $ 26.5 million and $ 20.9 million were outstanding, of which $ 4.8 million and $ 4.6 million were classified as current, respectively.

Of the $ 26.5 million outstanding at June 30, 2026, $ 17.7 million is attributable to the Poland subsidiary and $ 7.1 million is attributable to the Spain subsidiary.

These facilities support commitments made in the ordinary course of business.

On July 16, 2025, PLP Poland (Belos) S.A.

("PLP Poland"), a subsidiary of the Company, entered into a non-revolving investment loan with Bank Polska Kasa Opieki Spółka Akcyjna ("Bank Pekao S.A") to finance the construction of a new manufacturing plant for an amount up to PLN 100.3 million ($ 26.9 million).

The maturity date of the loan is January 31, 2035 and is payable in annual installments in the amounts of PLN 5.3 million ($ 1.4 million) in 2026, PLN 9.0 million ($ 2.4 million) in 2027, PLN 9.6 million ($ 2.6 million) in 2028 through 2034, and PLN 18.8 million ($ 4.9 million) in 2035.

On June 30, 2026, PLP Poland amended its non-revolving investment loan agreement with Bank Pekao S.A.

to defer the start of annual repayments from June 30, 2026 to January 31, 2027.

Following the amendment, PLP Poland will make annual installments in the amounts of PLN 9.0 million ($ 2.4 million) in 2027, PLN 9.6 million ($ 2.6 million) in 2028, PLN 9.8 million ($ 2.6 million) annually from 2029 through 2034, and PLN 22.9 million ($ 6.1 million) in 2035.

The loan bears interest at the one month Warsaw Interbank Offered Rate ("WIBOR") plus 1.0 % unless the Company does not meet the covenants as set forth in the Facility with PNC, at which point the WIBOR spread becomes 1.5 %.

1 unchanged sentence

The loan is guaranteed by the Company.

Subsequent Event - Term Loan

On July 28, 2026, in connection with the acquisition of a facility and related land in Canada (the "Property"), PLP Canada entered into a Term Loan Agreement (the "Term Loan") with Citibank N.A.

providing for borrowings of approximately CAD 15.0 million (approximately $ 10.7 million).

The proceeds of the Term Loan were used to refinance a portion of the Company's cash investment in the acquisition of the Property.

The Term Loan bears interest at a variable rate equal to the Canadian Overnight Repo Rate Average ("CORRA") plus 1.25 % per annum and matures on July 28, 2029.

Principal payments are due in annual installments of approximately CAD 0.8 million (approximately $ 0.5 million) in each of 2027 and 2028, with the remaining principal balance of approximately CAD 13.4 million (approximately $ 9.7 million) due at maturity in 2029.

The Term Loan contains a negative covenant that restricts PLP Canada from pledging, mortgaging, or otherwise using the Property as collateral for any other indebtedness without the prior written consent of the lender.

The Term Loan also contains, among other provisions, requirements for maintaining levels of net worth and profitability.

The loan is guaranteed by the Company.

Restricted Cash

The Company's Asia-Pacific segment had $ 0.3 million and $ 0.1 million in restricted cash used to secure bank guarantees at March 31, 2026 and December 31, 2025, respectively.

The Company's Asia-Pacific segment had $ 0.3 million and $ 0.1 million in restricted cash used to secure bank guarantees at June 30, 2026 and December 31, 2025, respectively.

The restricted cash is shown on the Company’s Consolidated Balance Sheets in Cash, cash equivalents and restricted cash.

NOTE 9 - INCOME TAXES

For the three-month period ended March 31, 2026 and 2025, the Company’s effective tax rate was 26 % and 16 %, respectively.

The higher effective tax rate for the three months ended March 31, 2026 compared to the three months ended March 31, 2025 was mainly due to a valuation allowance of approximately $ 1.3 million recorded on deferred tax assets related to the Company's French subsidiary.

For the three-month period ended June 30, 2026 and 2025, the Company’s effective tax rate was 24 % and 27 %, respectively.

The lower effective tax rate was mainly due to the impact from certain nondeductible compensation adjustments in Q2 2025.

For the six-month period ended June 30, 2026 and 2025, the Company's effective tax rate was 25 % and 22 % respectively.

The higher effective tax rate was mainly due to a reduction in the net benefit related to incentive compensation and a valuation allowance recorded on deferred tax assets related to the Company's French subsidiary.

The Company provides valuation allowances against deferred tax assets when it is more likely than not that some portion or all of its deferred tax assets will not be realized.

During the period ended March 31, 2026, no other valuation allowances were recorded other than the amount recorded related to the Company's French subsidiary.

For the three-month periods ending March 31, 2026 and 2025, the Company did not record any new uncertain tax positions.

During the six-month period ended June 30, 2026, no other valuation allowances were recorded other than the amount recorded related to the Company's French subsidiary in the first quarter of 2026.

For the six-month periods ending June 30, 2026 and 2025, the Company did not record any new uncertain tax positions.

NOTE 10 - COMPUTATION OF EARNINGS PER SHARE

1 unchanged sentence

Diluted earnings per share were calculated by dividing net income by the weighted-average of all potentially dilutive common shares that were outstanding during the periods presented.

The calculation of basic and diluted earnings per share for the three months ended March 31, was as follows:

Three Months Ended March 31,

The calculation of basic and diluted earnings per share for the three and six months ended June 30, was as follows:

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Net income $ 21,508 $ 12,705 $ 32,032 $ 24,222

6 unchanged sentences

Diluted $ 4.49 $ 2.56 $ 6.62 $ 4.89

For the three months ended March 31, 2026 and 2025, there were 1,000 and 7,500 share-based awards, respectively, excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.

For the three months ended June 30, 2026 and 2025, there were zero and 13,293 share-based awards, respectively, excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.

For the six months ended June 30, 2026 and 2025, there were zero and 7,500 share-based awards, respectively, excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.

NOTE 11 - GOODWILL AND OTHER INTANGIBLES

The Company’s finite and indefinite-lived intangible assets consist of the following:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Gross Carrying

11 unchanged sentences

The Company performs additional interim impairment assessments as circumstances warrant.

There were no indicators of impairment noted for the period ending March 31, 2026.

There were no indicators of impairment noted for the period ending June 30, 2026.

The Company may use both quantitative and qualitative approaches when testing goodwill for impairment.

13 unchanged sentences

Currency translation — 50 ( 514 ) — ( 464 )

Balance at March 31, 2026 $ 3,078 $ 10,812 $ 16,461 $ — $ 30,351

Balance at June 30, 2026 $ 3,078 $ 16,875 $ 16,466 $ — $ 36,419

NOTE 12 - FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

6 unchanged sentences

and (Level 3 Inputs) unobservable inputs that are not corroborated by market data.

As of March 31, 2026 and December 31, 2025 the Company had no assets, recorded and measured at fair value, in the Consolidated Balance Sheet.

The following table summarizes the Company’s liabilities, recorded and measured at fair value, in the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025:

The following table summarizes the Company’s assets and liabilities, recorded and measured at fair value, in the Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025:

Description Balance as of

March 31, 2026 Quoted Prices in Active Markets for

June 30, 2026 Quoted Prices in Active Markets for

Identical Assets or Liabilities

2 unchanged sentences

Foreign currency forward contracts $ — $ — $ — $ —

Total assets $ — $ — $ — $ —

Foreign currency forward contracts $ 12 $ — $ 12 $ —

Supplemental profit sharing plan 12,120 — 12,120 —

5 unchanged sentences

Foreign currency forward contracts $ — $ — $ — $ —

Total assets $ — $ — $ — $ —

Foreign currency forward contracts $ 97 $ — $ 97 $ —

Supplemental profit sharing plan 10,785 — 10,785 —

7 unchanged sentences

Accordingly, the changes in the fair value of the foreign currency forward contracts are recognized in each accounting period in Other income, net on the Consolidated Statements of Income together with the transaction gain or loss from the related balance sheet position.

For the three months ended March 31, 2026 and March 31, 2025, the Company recognized net gains of $ 0.2 million and $ 0.1 million, respectively, on foreign currency forward contracts.

For the three and six months ended June 30, 2026, the Company recognized net gains of $ 0.1 million and $ 0.3 million, respectively, on foreign currency forward contracts.

For the three and six months ended June 30, 2025, the Company recognized net losses of zero and net gains of $ 0.1 million, respectively on foreign currency forward contracts.

The Company has a non-qualified supplemental profit sharing plan for its executives (the "Supplemental Profit Sharing Plan").

The liability for the unfunded Supplemental Profit Sharing Plan was $ 11.1 million at March 31, 2026 and $ 10.8 million at December 31, 2025.

The liability for the unfunded Supplemental Profit Sharing Plan was $ 12.1 million at June 30, 2026 and $ 10.8 million at December 31, 2025.

These amounts are recorded within Other noncurrent liabilities on the Company’s Consolidated Balance Sheets.

Supplemental Profit Sharing Plan allows participants the ability to hypothetically invest their proportionate award into various investment options, which primarily includes mutual funds.

The Supplemental Profit Sharing Plan allows participants the ability to hypothetically invest their proportionate award into various investment options, which primarily includes mutual funds.

The Company credits earnings, gains and losses to the participants’ deferred compensation account balances based on the investments selected by the participants.

1 unchanged sentence

The carrying value of the Company’s current financial instruments, which include cash, cash equivalents and restricted cash, accounts receivable, accounts payable and short-term debt, approximates fair value because of the short-term maturity of these instruments.

At March 31, 2026 and December 31, 2025, the fair value of the Company’s long-term debt was estimated using discounted cash flows analyses, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements that are considered to be Level 2 inputs.

At June 30, 2026 and December 31, 2025, the fair value of the Company’s long-term debt was estimated using discounted cash flows analyses, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements that are

considered to be Level 2 inputs.

Based on the analysis performed, the fair value and the carrying value of the Company’s long-term debt are as follows:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Carrying Value Fair Value Carrying Value

14 unchanged sentences

The CODM also uses segment gross sales and income before income taxes for the performance of each segment by comparing the results of each segment with one another and in determining the incentive compensation of certain employees.

The following tables present a summary of the Company’s reportable segments for the three-month period ended March 31, 2026 and 2025.

The following tables present a summary of the Company’s reportable segments for the three and six month periods ended June 30, 2026 and 2025.

Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profit in inventory.

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

PLP-USA The Americas EMEA Asia-Pacific Total

13 unchanged sentences

Total noncontrolling interest — — — — —

Total net income (loss) attributable to Preformed Line Products Company shareholders $ 9,723 $ 682 $ ( 532 ) $ 651 $ 10,524

Three Months Ended March 31, 2025

Total net income attributable to Preformed Line Products Company shareholders $ 12,652 $ 3,167 $ 3,411 $ 2,278 $ 21,508

Three Months Ended June 30, 2025

PLP-USA The Americas EMEA Asia-Pacific Total

13 unchanged sentences

Total net income attributable to Preformed Line Products Company shareholders $ 7,745 $ 1,302 $ 1,367 $ 2,291 $ 12,705

Three Months Ended March 31,

Six Months Ended June 30, 2026

PLP-USA The Americas EMEA Asia-Pacific Total

$ 200,997 $ 68,015 $ 77,467 $ 69,377 $ 415,856

Intersegment sales

( 3,380 ) ( 8,971 ) ( 2,501 ) ( 12,045 ) ( 26,897 )

197,617 59,044 74,966 57,332 388,959

Cost of products sold

125,849 41,370 52,320 41,188 260,727

71,768 17,674 22,646 16,144 128,232

Costs and expenses 44,888 13,059 16,449 12,218 86,614

Operating income

26,880 4,615 6,197 3,926 41,618

Interest income

425 644 240 102 1,411

Interest expense

( 90 ) ( 18 ) ( 306 ) ( 57 ) ( 471 )

Other expense, net 16 75 80 47 218

Income before income taxes 27,231 5,316 6,211 4,018 42,776

Income tax expense

4,856 1,467 3,307 1,089 10,719

Total noncontrolling interest

— — ( 25 ) — ( 25 )

Total net income attributable to Preformed Line Products Company shareholders

$ 22,375 $ 3,849 $ 2,879 $ 2,929 $ 32,032

Six Months Ended June 30, 2025

PLP-USA The Americas EMEA Asia-Pacific Total

Gross sales $ 158,123 $ 55,314 $ 65,152 $ 59,678 $ 338,267

Intersegment sales ( 4,827 ) ( 4,527 ) ( 3,249 ) ( 7,522 ) ( 20,125 )

Net sales 153,296 50,787 61,903 52,156 318,142

Cost of products sold 98,396 35,276 43,515 36,885 214,072

Gross profit 54,900 15,511 18,388 15,271 104,070

Costs and expenses 34,567 12,224 15,300 11,725 73,816

Operating income 20,333 3,287 3,088 3,546 30,254

Interest income 181 520 125 68 894

Interest expense ( 95 ) ( 33 ) ( 315 ) ( 251 ) ( 694 )

Other (expense) income, net ( 403 ) 73 270 583 523

Income before income taxes 20,016 3,847 3,168 3,946 30,977

Income tax expense 3,834 1,149 582 1,159 6,724

Total noncontrolling interest — — ( 31 ) — ( 31 )

Total net income attributable to Preformed Line Products Company shareholders $ 16,182 $ 2,698 $ 2,555 $ 2,787 $ 24,222

Three Months Ended June 30, Six Months Ended June 30,

Expenditure for long-lived assets

10 unchanged sentences

Total depreciation and amortization $ 6,254 $ 5,728 $ 12,420 $ 11,253

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Identifiable assets

25 unchanged sentences

All measurement period adjustments were completed within a year from the acquisition date, and such adjustments did not have a material impact on the Company's results of operations and financial position.

For the period ended March 31, 2026, the Company’s consolidated financial statements included JAP Telecom sales of approximately $ 1.9 million and is reported in The Americas segment.

For the period ended June 30, 2026, the Company’s consolidated financial statements included JAP Telecom sales of approximately $ 3.7 million and is reported in The Americas segment.

Acquisition of Delta Star

On May 5, 2026, the Company acquired all issued and outstanding shares of Delta Star Conetores Electricos Ltda ("Delta Star"), an entity headquartered in Salto, Brazil.

Delta Star is a manufacturer of high-quality substation connectors designed to support reliable, long-term grid performance.

The acquisition expands the Company's operational capabilities in South America related to substation hardware and components and strengthens the Company's position in the energy market.

Delta Star's unaudited annual sales for the year ended December 31, 2025 were approximately $ 8.0 million.

The purchase price was approximately $ 11.1 million, net of cash received.

The acquisition of Delta Star is accounted for using the acquisition method of accounting, which requires the assets acquired and liabilities assumed to be recognized at their respective fair values on the acquisition date.

The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates.

The opening balance sheet is preliminary and subject to further measurement period adjustments.

Goodwill is calculated as the excess of the consideration transferred over the net identifiable assets recognized and represents the anticipated synergies of acquiring Delta Star.

The preliminary goodwill recognized of $ 6.3 million is not deductible for tax purposes.

The preliminary fair value of the identifiable net assets was $ 4.8 million.

For the period ended June 30, 2026, the Company’s consolidated financial statements included Delta Star sales of approximately $ 1.2 million and is reported in The Americas segment.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements