NASDAQ$UFPT
UFP Technologies Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
UFP Technologies reported record Q1 results with increased net sales and income compared to the previous year.
UFP Technologies reported a strong first quarter with a 7.4% organic sales growth in both MedTech and Advanced Components businesses. Operating income and net income increased by 24% and 30%, respectively driven by growth in robotic surgery and infection prevention revenue.
- Net sales for Q1 2024 were $105.0 million, compared to $97.8 million in Q1 2023.
- Net income for Q1 2024 was $12.7 million, or $1.64 per diluted share, compared to $9.7 million, or $1.27 per diluted share in Q1 2023.
- Organic sales growth of 7.4% was achieved in both the MedTech and Advanced Components businesses.
- Expansion in the Dominican Republic is largely complete, contributing to enhanced gross margins.
Headline financials
Revenue & EPS history
UFP Technologies · Revenue · Quarterly
$105M
Revenue by segment
UFP Technologies · $6.8M total across 1 segment · Q3 2023
- Medical$6.8M—100.0%
Forward guidance
UFP Technologies is optimistic about its future due to continued growth, progress on strategic initiatives, and a strong balance sheet.
Tailwinds
- Exciting pipeline of active acquisition opportunities, with multiple projects already in the due diligence phase.
- Continued growth in core business segments.
- Progress on strategic initiatives.
- Strong balance sheet with only around $34 million in debt.
- Mexico operation sales grew 47% over the prior year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+2.7%
Avg return
Earnings day
+3.1%
Avg return
5 days after
+5.5%
Avg return
30 days after
66%
43 / 65 earnings
Positive
+24.0%
Q1 2024
Best reaction
-11.6%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.2% | -1.0% | +1.1% | |
| Q4 2025 | +0.3% | -15.1% | -21.2% | |
| Q3 2025 | +12.2% | +13.6% | +8.6% | |
| Q1 2025 | +11.2% | +19.8% | +23.6% | |
| Q4 2024 | +9.4% | -5.5% | -15.7% | |
| Q3 2024 | +23.8% | +24.2% | +4.5% | |
| Q2 2024 | +2.8% | -5.4% | +7.7% | |
| Q1 2024 | +24.0% | +24.5% | +26.4% | |
| Q4 2023 | +10.5% | +11.3% | +26.2% | |
| Q3 2023 | -11.6% | -8.0% | +6.9% | |
| Q2 2023 | -5.5% | -6.3% | -9.7% | |
| Q1 2023 | +5.8% | +2.0% | +13.9% | |
| Q4 2022 | +10.8% | +2.9% | +16.5% | |
| Q3 2022 | +16.4% | +21.5% | +31.6% | |
| Q2 2022 | +11.2% | +11.1% | +14.1% | |
| Q1 2022 | +5.9% | +3.1% | +14.2% | |
| Q4 2021 | -1.0% | -11.1% | +1.3% | |
| Q3 2021 | +4.1% | +6.8% | +7.6% | |
| Q2 2021 | +9.6% | +12.5% | +14.8% | |
| Q1 2021 | +8.1% | +8.8% | +15.4% | |
| Q4 2020 | +1.4% | -7.8% | -0.7% | |
| Q3 2020 | +13.2% | +18.9% | +25.0% | |
| Q2 2020 | +3.7% | +2.5% | -6.4% | |
| Q1 2020 | +1.3% | +7.1% | +10.0% | |
| Q4 2019 | +3.0% | -4.2% | -28.6% | |
| Q3 2019 | -0.2% | +1.3% | +7.7% | |
| Q2 2019 | +2.6% | -1.4% | -2.2% | |
| Q1 2019 | +2.8% | +3.6% | +5.0% | |
| Q4 2018 | -1.4% | -0.2% | +8.6% | |
| Q3 2018 | -0.8% | -1.8% | +5.1% | |
| Q2 2018 | +2.7% | +10.2% | +7.6% | |
| Q1 2018 | -0.6% | -3.2% | -6.2% | |
| Q4 2017 | -3.3% | -1.4% | +3.7% | |
| Q3 2017 | -10.1% | -11.1% | -9.0% | |
| Q2 2017 | -3.3% | -3.8% | -8.0% | |
| Q1 2017 | +1.7% | +1.1% | +4.9% | |
| Q4 2016 | +0.4% | +1.2% | +5.7% | |
| Q3 2016 | -4.6% | -3.5% | -4.6% | |
| Q2 2016 | +3.3% | +2.9% | +7.5% | |
| Q1 2016 | +1.3% | — | — | |
| Q4 2015 | +5.6% | — | — | |
| Q3 2015 | -0.6% | — | — | |
| Q2 2015 | +12.7% | — | — | |
| Q1 2015 | -2.7% | — | — | |
| Q4 2014 | -7.5% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | -2.1% | — | — | |
| Q1 2014 | -1.2% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | -0.9% | — | — | |
| Q2 2013 | +1.4% | — | — | |
| Q1 2013 | -3.4% | — | — | |
| Q4 2012 | -0.6% | — | — | |
| Q3 2012 | -2.5% | — | — | |
| Q2 2012 | +1.3% | — | — | |
| Q1 2011 | +2.5% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q4 2009 | -3.0% | — | — | |
| Q4 2011 | -3.0% | — | — | |
| Q3 2010 | +2.6% | — | — | |
| Q3 2011 | +2.6% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q2 2010 | +1.3% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q1 2010 | +0.5% | — | — |
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