UFP Technologies Third Quarter 2024 Earnings: Beats Expectations

UFP Technologies (NASDAQ:UFPT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$145.2m (up 44% from 3Q 2023).
• Net income: US$16.4m (up 40% from 3Q 2023).
• Profit margin: 11% (in line with 3Q 2023).
• EPS: US$2.13 (up from US$1.53 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

UFP Technologies Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.6%. Earnings per share (EPS) also surpassed analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US.

Performance of the American Medical Equipment industry.

The company's shares are up 15% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for UFP Technologies that you should be aware of before investing here.

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