UFP Technologies First Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 05/13 10:48

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).
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NasdaqCM:UFPT Earnings and Revenue Growth May 13th 2024

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 1.5% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for UFP Technologies you should know about.