Yahoo Finance UFP Technologies First Quarter 2024 Earnings: Beats Expectations
UFP Technologies (NASDAQ:UFPT) First Quarter 2024 Results
Key Financial Results
Revenue: US$105.0m (up 7.4% from 1Q 2023).
Net income: US$12.7m (up 30% from 1Q 2023).
Profit margin: 12% (up from 10.0% in 1Q 2023). The increase in margin was driven by higher revenue.
EPS: US$1.66 (up from US$1.28 in 1Q 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 7.9%. Earnings per share (EPS) also surpassed analyst estimates by 50%.
Looking ahead, revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US.
Performance of the American Medical Equipment industry.
The company's shares are up 10% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for UFP Technologies that you should be aware of.
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