[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_101":102},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","qd4bi9xu2lak8gfmtfwm2pu12","revision",2,"title","Preformed Line Products披露截至2026年9月30日第三季度及前九个月业绩：净销售额分别为2.095亿美元和5.9846亿美元","originalTitle","PREFORMED LINE PRODUCTS CO (0000080035) (Filer)","summary","Preformed Line Products截至2026年9月30日的第三季度净销售额为2.095亿美元，归属于公司股东的净利润为1,803.6万美元，摊薄每股收益为3.56美元；上年同期分别为1.781亿美元、262.6万美元和0.53美元。","reason","材料汇总了公司未经审计的季度及九个月业绩、现金流、收购与风险披露，可用于了解经营变化及其财务背景。","source",{"_12":92,"_93":94,"_9":95,"_96":42,"_97":98,"_99":100},"links",{"_89":90,"_78":91},"publishedAt","2026-10-29T16:42:37.000Z","discoveredAt","2026-10-29T17:11:07.451Z","timelineAt","category","ai-products","tags",[84,85,86,87,88],"stockSymbols",[83],"score",69,"selected",true,"channel","news","story",{"_73":74,"_16":75},"x","readingMode","full","author","language","body",{"_64":77,"_78":-5,"_79":80,"_81":82},"outline",[],"relatedStories",[76],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":69,"_70":71,"_72":69},"hasTranslation","bodyLanguage","zh","factId","fZr_YcIiE8rI",{"_73":74,"_16":75},"reportCount",1,"additionalSourceCount",0,"developmentCount","publicId","00f2db1e-37f5-4a42-b9dc-297f325d43f8","Preformed Line Products披露2026年第三季度业绩",{"_73":74,"_16":75},"

美国

证券交易委员会

华盛顿特区 20549

10-Q 表

（勾选一项）

☒ 季度报告，依据《1934年证券交易法》第13或15(d)条

截至2026年9月30日的财政季度

或

☐ 过渡报告，依据《1934年证券交易法》第13或15(d)条

过渡期间：从 ________至 _______

委员会档案编号 0-31164

Preformed Line Products Company

（注册人章程中列明的确切名称）


俄亥俄州		34-0676895
（注册成立或组织所在州或其他司法管辖区）		（美国国税局雇主识别号）

660 Beta Drive

俄亥俄州梅菲尔德村

44143

（主要行政办公室地址）

（邮政编码）


(440) 461‑5200
（注册人电话号码，包括区号）

根据该法第12(b)条注册的证券：


各类证券名称	交易代码	注册所在交易所名称
普通股，每股面值 $2	PLPC	NASDAQ

请勾选，以表明注册人是否：(1) 已在过去12个月（或注册人须提交此类报告的较短期间）内提交《1934年证券交易法》第13或15(d)条要求提交的所有报告；以及 (2) 在过去90天内一直受此类提交要求约束。是 ☒ 否 ☐

请勾选，以表明注册人是否已在过去12个月（或注册人须提交此类文件的较短期间）内，以电子方式提交根据 S-T 条例第405条（本章§232.405）要求提交的所有交互式数据文件。是 ☒ 否 ☐

请勾选，以表明注册人属于大型加速申报公司、加速申报公司、非加速申报公司、较小报告公司还是新兴成长公司。定义参见《交易法》规则12b-2中“大型加速申报公司”“加速申报公司”“较小报告公司”和“新兴成长公司”的定义。

大型加速申报公司

☐

加速申报公司

☒

非加速申报公司

☐

较小报告公司

☐

新兴成长公司

☐

如果属于新兴成长公司，请勾选注册人是否选择不采用《交易法》第13(a)条规定的、遵守任何新发布或修订的财务会计准则的延长过渡期。☐

请勾选，以表明注册人是否为空壳公司（定义见《交易法》规则12b-2）。是 ☐ 否 ☒

截至2026年10月 16日的流通股数：4,880,691。

页

第一部分 – 财务信息

第1项。财务报表

PREFORMED LINE PRODUCTS COMPANY

合并资产负债表


	2026年9月30日		2025年12月31日
（美元千元，股份和每股数据除外）	（未经审计）
资产
现金、现金等价物及受限现金	$	99,269			$	83,389
应收账款净额	136,764			113,175
存货净额	161,194			148,730
预付费用	15,683			12,961
其他流动资产	8,907			5,206
流动资产总额	421,817			363,461
不动产、厂房及设备净额	247,502			222,781
经营租赁使用权资产	10,579			9,708
商誉	36,142			30,684
其他无形资产净额	9,007			10,140
递延所得税	7,909			7,481
其他资产	9,346			9,366
资产总额	$	742,302			$	653,621
负债和股东权益
贸易应付账款	$	60,935			$	49,520
应付银行票据	2,390			1,213
流动经营租赁负债	1,886			1,722
长期债务的流动部分	6,136			5,392
应计薪酬及其他福利	36,829			29,207
应计费用及其他负债	35,605			22,407
应付股利	1,226			1,277
应付所得税	2,867			3,972
流动负债总额	147,874			114,710
长期债务（扣除流动部分）	47,423			32,860
非流动经营租赁负债	6,556			5,957
递延所得税	5,625			5,707
其他非流动负债	22,186			18,836
股东权益
普通股，每股面值$2，授权发行15,000,000股，截至2026年9月30日和2025年12月31日已发行并流通4,880,691股和4,907,787股	13,895			13,860
发行给rabbi信托的普通股，截至2026年9月30日和2025年12月31日分别为222,506股和222,506股	(9,586)			(9,586)
递延薪酬负债	9,586			9,586
实收资本	71,226			67,217
留存收益	631,311			584,360
库存股，按成本计量，截至2026年9月30日和2025年12月31日分别为2,066,300股和2,021,940股	(149,150)			(136,554)
累计其他综合亏损	(54,682)			(53,365)
PREFORMED LINE PRODUCTS COMPANY股东权益总额	512,600			475,518
非控股权益	38			33
股东权益总额	512,638			475,551
负债和股东权益总额	$	742,302			$	653,621

参见合并财务报表附注（未经审计）。

PREFORMED LINE PRODUCTS COMPANY

合并收益表

（未经审计）


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025
（千元，每股数据除外）
净销售额	$	209,501			$	178,087		$	598,460	$	496,229
产品销售成本	139,499			125,238			400,226		339,310
毛利	70,002			52,849			198,234		156,919
成本和费用
销售费用	15,014			13,252			44,171		38,525
一般和行政费用	22,522			19,149			65,104		55,440
研发费用	7,336			6,182			21,227		17,356

其他营业费用，净额	233			1,134			1,217		2,212
	45,105			39,717			131,719		113,533
营业收入	24,897			13,132			66,515		43,386
其他收入（费用）
利息收入	1,061			683			2,472		1,577
利息费用	(728)			(312)			(1,199)		(1,006)
养老金计划终止费用	—			(11,657)			—		(11,657)
其他收入，净额	326			510			544		1,033
	659			(10,776)			1,817		(10,053)
所得税前收入	25,556			2,356			68,332		33,333
所得税费用（收益）	7,540			(263)			18,259		6,461
净收入	$	18,016			$	2,619		$	50,073	$	26,872
归属于非控股权益的净费用（收入）	20			7			(5)		(24)
归属于 PREFORMED LINE PRODUCTS COMPANY 股东的净收入	$	18,036			$	2,626		$	50,068	$	26,848
普通股平均流通股数：
基本	5,032		4,915		4,891		4,925
摊薄	5,072		4,941		4,917		4,951
归属于 PREFORMED LINE PRODUCTS COMPANY 股东的普通股每股收益：
基本	$	3.58			$	0.53		$	10.24	$	5.45
摊薄	$	3.56			$	0.53		$	10.18	$	5.42

请参阅未经审计的合并财务报表附注。

PREFORMED LINE PRODUCTS COMPANY

合并综合收益表

（未经审计）


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025

（千美元）
净收入	$	18,016			$	2,619		$	50,073	$	26,872
其他综合（损失）收益，税后净额：
外币折算调整	(1,179)			1,708			(1,317)		22,060
养老金调整，税后净额	—			5,127			—		5,373
其他综合（损失）收益，税后净额	(1,179)			6,835			(1,317)		27,433
归属于非控股权益的综合费用（收益）	20			7			(5)		(24)
归属于 PREFORMED LINE PRODUCTS COMPANY 股东的综合收益	$	16,857			$	9,461		$	48,751	$	54,281

请参阅未经审计的合并财务报表附注。

PREFORMED LINE PRODUCTS COMPANY

合并现金流量表

（未经审计）


	截至9月30日的九个月
	2026		2025
（千美元）
经营活动
净收入	$	50,073			$	26,872
将净收入调节为经营活动提供的现金净额的调整项：
折旧和摊销	18,979			16,889
递延所得税	(511)			1,265
股份支付薪酬费用	7,299			3,973
养老金计划终止费用	—			11,657
出售不动产及设备的（收益）损失	(4)			24
其他，净额	2,167			3,066
经营性资产和负债变动
向公司养老金计划缴款	—			(2,872)
其他，净额	(9,909)			(9,351)
经营活动提供的现金净额	68,094			51,523
投资活动
资本支出	(43,652)			(29,977)
出售不动产及设备所得款项	161			324
出售投资所得款项	—			1,679
购买投资	—			(451)
收购业务（扣除现金）	(9,058)			(4,746)
投资活动使用的现金净额	(52,549)			(33,171)
融资活动
银行应付票据所得款项（付款）	1,302			(5,025)
长期债务所得款项	21,713			19,035
偿还长期债务	(4,436)			(5,463)
支付的股息	(3,167)			(3,137)
发行普通股所得款项	670			397
股票激励计划付款	(3,935)			(3,799)
回购库存普通股	(1,223)			(389)
向关联方回购库存普通股	(11,373)			(7,487)
其他	—			(1,474)
融资活动使用的现金净额	(449)			(7,342)
汇率变动对现金、现金等价物和受限现金的影响	784			4,692
现金、现金等价物和受限现金净增加额	15,880			15,702
年初现金、现金等价物及受限现金	83,389			57,244
期末现金、现金等价物及受限现金	$	99,269			$	72,946

参见未经审计合并财务报表附注。

PREFORMED LINE PRODUCTS COMPANY

合并股东权益表


										累计其他综合收益（亏损）
（单位：千，股份及每股数据除外）	普通股		发行给 Rabbi Trust 的普通股	递延薪酬负债		实收资本	留存收益		库存股	累计折算调整		未确认的养老金福利成本		Preformed Line Products Company 股东权益总额		非控股权益	权益总额
2025年12月31日余额	$	13,860		$	(9,586)		$	9,586		$	67,217			$	584,360		$	(136,554)		$	(53,365)		$	—		$	475,518	$	33	$	475,551
净利润										10,524										10,524		25			10,549
外币折算调整																(1,425)				(1,425)					(1,425)

综合收益总额																				9,099		25			9,124

购买34,439股普通股													(8,938)						(8,938)					(8,938)
股票激励计划活动	30							(1,170)												(1,140)					(1,140)
发行给 Rabbi Trust 的普通股0股，净额																				—					—
已宣告现金股利——每股$0.21										(1,015)										(1,015)					(1,015)
2026年3月31日余额	$	13,890		$	(9,586)		$	9,586		$	66,047			$	593,869		$	(145,492)		$	(54,790)		$	—		$	473,524	$	58	$	473,582
净利润										21,508										21,508					21,508
外币折算调整																1,287				1,287					1,287

综合收益总额																				22,795		—			22,795

购买9,111股普通股													(3,285)							(3,285)					(3,285)
股票激励计划活动	3							2,557											2,560					2,560
发行给 Rabbi Trust 的普通股0股，净额																				—					—
已宣告现金股利——每股$0.21										(1,051)										(1,051)					(1,051)
2026年6月30日余额	$	13,893		$	(9,586)		$	9,586		$	68,604			$	614,326		$	(148,777)		$	(53,503)		$	—		$	494,543	$	58	$	494,601
净利润										18,036										18,036		(20)			18,016
外币折算调整																(1,179)				(1,179)					(1,179)

综合收益总额																				16,857		(20)			16,837

购买810股普通股													(373)							(373)					(373)
股票激励计划活动	2							2,622											2,624					2,624
发行给 Rabbi Trust 的普通股0股，净额																				—					—
已宣告现金股利——每股$0.21										(1,051)										(1,051)					(1,051)
2026年9月30日余额	$	13,895		$	(9,586)		$	9,586		$	71,226			$	631,311		$	(149,150)		$	(54,682)		$	—		$	512,600	$	38	$	512,638


											累计其他综合收益（亏损）
（单位：千，股份及每股数据除外）	普通股		发行给 Rabbi Trust 的普通股		递延薪酬负债		实收资本	留存收益		库存股	累计折算调整		未确认的养老金福利成本		Preformed Line Products Company 股东权益总额		非控股权益	权益总额
2024年12月31日余额	$	13,752			$	(9,575)		$	9,575		$	65,093			$	553,179		$	(126,800)		$	(77,536)		$	(5,373)		$	422,315	$	9	$	422,324
净利润											11,517										11,517		36			11,553
外币折算调整																	6,671				6,671					6,671
养老金调整，税后净额																			123		123					123
综合收益总额																					18,311		36			18,347

购买860股普通股														(131)							(131)					(131)
股票激励计划活动	68								(2,888)					(881)							(3,701)					(3,701)
从 Rabbi Trust 分配普通股147股，净额				(19)			19														—					—
已宣告现金股利——每股$0.20											(1,018)										(1,018)					(1,018)
2025年3月31日余额	$	13,820			$	(9,594)		$	9,594		$	62,205			$	563,678		$	(127,812)		$	(70,865)		$	(5,250)		$	435,776	$	45	$	435,821
净利润											12,705										12,705		(5)			12,700
外币折算调整																	13,681				13,681					13,681
养老金调整，税后净额																			123		123					123
综合收益总额																					26,509		(5)			26,504

购买17,028股普通股														(2,351)							(2,351)					(2,351)
股票激励计划活动	3								1,814											1,817					1,817
从 Rabbi Trust 分配普通股134股，净额				(19)			19														—					—
已宣告现金股利——每股$0.20											(1,015)										(1,015)					(1,015)
2025年6月30日余额	$	13,823			$	(9,613)		$	9,613		$	64,019			$	575,368		$	(130,163)		$	(57,184)		$	(5,127)		$	460,736	$	40	$	460,776
净利润											2,626										2,626		(7)			2,619
外币折算调整																	1,708				1,708					1,708
养老金调整，税后净额																			5,127		5,127					5,127
综合收益总额																					9,461		(7)			9,454

购买 26,858 股普通股														(4,513)							(4,513)					(4,513)
股票激励计划活动	8								1,622											1,630					1,630
从 0 的拉比信托分配的普通股，净额				27			(27)														—					—
已宣派现金股息——每股 $0.20											(1,009)										(1,009)					(1,009)
截至 2025 年 9 月 30 日的余额	$	13,831			$	(9,586)		$	9,586		$	65,641			$	576,985		$	(134,676)		$	(55,476)		$	—		$	466,305	$	33	$	466,338

参见合并财务报表（未经审计）附注。

PREFORMED LINE PRODUCTS COMPANY

合并财务报表附注

（未经审计）

（除特别注明外，表格金额单位为千美元，股份和每股数据除外）

附注 1——重要会计政策

Preformed Line Products Company 及其子公司（“公司”或“PLPC”）随附的未经审计合并财务报表，按照美国（“U.S.”）公认会计原则（“GAAP”）关于中期财务信息的规定，以及 Form 10-Q 的说明和 Regulation S-X 第 10 条编制。因此，报表未包含 GAAP 对完整财务报表要求的所有信息和脚注。本 Form 10-Q 应与我们截至 2025 年 12 月 31 日年度的 Form 10-K 中所载合并财务报表及其附注一并阅读；该 Form 10-K 于 2026 年 3 月 5 日向美国证券交易委员会提交。管理层已评估截至本 Form 10-Q 向美国证券交易委员会提交之日发生的后续事项。

编制这些合并财务报表需要管理层作出估计和假设，这些估计和假设会影响合并财务报表及其附注中报告的金额。实际结果可能与这些估计不同。管理层认为，这些合并财务报表包含所有为公允列报中期财务状况、经营成果和现金流量所需的估计和调整，且这些调整均为正常的经常性应计项目。截至 2026 年 9 月 30 日止三个月和九个月的经营成果并不一定代表截至 2026 年 12 月 31 日的全年预期成果。

在公司的合并财务报表中，非控股权益的列报方式是假设母公司投资者（控股权益）和部分持股子公司的其他少数投资者（非控股权益）在单一实体中具有相似的经济利益。因此，非控股权益投资在公司的合并财务报表中列作权益。此外，公司的合并财务报表纳入受控子公司 100% 的收益，而非仅纳入公司所占份额。母公司与非控股权益之间的交易列作股东之间的权益交易，前提是此类交易不导致控制权发生变化。

近期采用或发布的会计公告和法规

尚未采用

2024年11月，FASB发布了《会计准则更新第2024-03号——利润表——综合收益报告——费用分类披露（子主题220-40）：利润表费用分类》。该ASU改进了有关上市企业费用的披露，并回应了投资者对费用项目中通常列示的各类费用提供更详细信息的要求。结合近期加强收入和所得税信息分类披露的准则，该ASU修订要求披露的费用分类信息将使投资者能够更好地了解实体利润表的主要组成部分。该ASU适用于2026年12月15日之后开始的年度报告期间，以及2027年12月15日之后开始的中期报告期间，并允许提前采用。本公司正在评估采用该ASU的影响。

2025年9月，FASB发布了《会计准则更新第2025-06号——无形资产——商誉及其他——内部使用软件（子主题350-40）：内部使用软件会计处理的针对性改进》。该ASU删除了所有关于软件开发“项目阶段”的表述。相反，在满足以下条件时开始资本化：管理层已批准为软件项目提供资金；项目很可能完成；且软件将用于其预定用途。该ASU适用于2027年12月15日之后开始的年度期间，以及这些年度报告期间内的中期期间，并允许提前采用。本公司正在评估采用该ASU的影响。

新法规

2025年7月4日，《大而美法案》（“OBBBA”）在美国正式颁布。OBBBA包含多项重要规定，例如永久延长《减税与就业法案》中某些即将到期的条款、修改国际税收框架，以及恢复某些企业的优惠税务待遇。该立法设有多个生效日期，部分规定于2025年生效，其他规定则于2027年前逐步实施。OBBBA的实施使本公司在2025财年年末实现约300万美元的现金税款节省。管理层目前正在评估这些规定对2026财年的潜在影响。

附注2——收入

收入确认

当合同条款下的义务得到履行且承诺商品或服务的控制权已转移给客户时，确认销售收入。客户能够主导商品或服务的使用并从中获得利益时，控制权即转移，且主要取决于运输条款。销售额按本公司预期因转让产品而收取的对价金额计量。

分类收入

本公司按分部和产品类型划分的收入如下：


	截至2026年9月30日的三个月
产品类型	PLP-USA	美洲	欧洲、中东和非洲	亚太地区	合并
能源	69%	82%	80%	77%	75%
通信	28%	17%	15%	2%	19%
特殊行业	3%	1%	5%	21%	6%
总计	100%	100%	100%	100%	100%

	截至2025年9月30日的三个月
产品类型	PLP-USA	美洲	欧洲、中东和非洲	亚太地区	合并
能源	60%	84%	75%	73%	69%
通信	34%	15%	20%	2%	23%
特殊行业	6%	1%	5%	25%	8%
总计	100%	100%	100%	100%	100%

	截至2026年9月30日的九个月
产品类型	PLP-USA	美洲	欧洲、中东和非洲	亚太地区	合并
能源	67%	80%	76%	75%	72%
通信	30%	19%	18%	3%	22%
特殊行业	3%	1%	6%	22%	6%
总计	100%	100%	100%	100%	100%

	截至2025年9月30日的九个月
产品类型	PLP-USA	美洲	欧洲、中东和非洲	亚太地区	合并
能源	61%	84%	73%	75%	68%
通信	34%	15%	20%	3%	23%
特殊行业	5%	1%	7%	22%	8%
总计	100%	100%	100%	100%	100%

应收款信用损失

公司为可能因客户无法按要求付款而产生的估计损失计提信用损失准备。公司采用当前预期信用损失模型，立即确认预计将在金融工具（主要是贸易应收款）存续期内发生的信用损失估计。此外，该准备金根据已识别的逾期账户、客户付款模式以及其他历史数据趋势分析确定。应收款余额

在作出最终认定后，将从信用损失准备中核销。信用损失准备的变动包括费用和净核销额，具体如下表所示：


	截至9月30日的九个月
	2026		2025
期初信用损失准备	$	5,797			$	6,958
计入成本和费用的新增额	1,029			893
核销额	(17)			(250)
外汇及其他	71			57
期末信用损失准备	$	6,880			$	7,658

附注3——存货，净额

存货，净额

存货按成本与可变现净值孰低计量。存货构成如下：


	2026年9月30日		2025年12月31日
原材料	$	106,596			$	95,988
在制品	19,426			16,586
产成品	57,262			55,442
扣除过剩和陈旧存货准备后的存货净额	183,284			168,016
当前成本超过后进先出法成本的部分	(22,090)			(19,286)
按后进先出法计量的存货	$	161,194			$	148,730

某些材料的库存成本（主要在美国）采用后进先出法（“LIFO”）计量，截至2026年9月30日和2025年12月31日，合计约为39.6 million美元和45.8 million美元。只有在年末根据当时的库存水平和成本，才能对采用LIFO法计量的库存进行实际估值。因此，期中LIFO计算基于管理层对年末预期库存水平和成本的估计。由于这些估计可能发生变化，且可能不同于年末的实际库存水平和成本，期中业绩须以年末最终LIFO库存估值为准。截至2026年和2025年9月30日的三个月期间，LIFO库存净变动分别导致销售产品成本增加1.6 million美元和3.8 million美元。截至2026年和2025年9月30日的九个月期间，LIFO库存净变动分别导致销售产品成本增加2.8 million美元和6.2 million美元。公司截至2026年9月30日和2025年12月31日的过剩及陈旧库存准备分别为15.4 million美元和17.7 million美元。

附注4——财产和设备，净额

主要类别的财产、厂房和设备如下：


	2026年9月30日		2025年12月31日
土地及改良	$	31,228			$	27,293
建筑物及改良	147,353			131,619
机械、设备及飞机	284,495			274,919
在建工程	34,740			27,206
财产、厂房和设备总额	497,816			461,037
减：累计折旧	(250,314)			(238,256)
财产、厂房和设备净额	$	247,502			$	222,781

2026年7月21日，公司子公司PLP Canada LTD（“PLP Canada”）以约16.7 million美元的购买价格收购了一处设施及相关物业。新收购的设施将取代PLP Canada现有设施，旨在扩大其制造产能并支持未来增长计划。该收购使用手头现金支付。2026年7月28日，在购买该设施后，PLP Canada取得一笔定期贷款，用于支付部分设施购买价款。有关该定期贷款的更多详情，请参阅附注8。

附注5——或有事项及其他负债

或有负债

公司在正常经营过程中可能涉及各种未决法律诉讼和索赔，包括但不限于与雇佣、工伤赔偿、产品责任、环境和知识产权相关的诉讼。公司为其中许多索赔投保了责任保险。尽管无法确定地预测这些事项的结果，但如果负债很可能已经发生，且损失金额能够合理估计，公司就会确认负债。如果公司认定损失并非很可能发生，但有合理可能发生，且公司认为存在合理的潜在损失范围，公司将披露相关事项。如果损失有合理可能超过已计提金额，公司将在作出该判断的期间调整应计负债，披露额外损失或损失范围的估计；如果无法合理估计调整金额，则披露无法作出估计。

公司并非任何未决法律诉讼的当事方，且公司认为这些诉讼无论单独还是合计均不会对其财务状况、经营业绩或现金流产生重大不利影响。截至2026年9月30日的期间及截至2025年12月31日止年度，已知全球法律事项均未计提准备金。

客户预付款

截至2026年9月30日和2025年12月31日，公司分别将客户为未来项目支付的预付款1,160万美元和470万美元计入合并资产负债表中的应计费用及其他负债。

关税相关事项

2026年2月，美国最高法院裁定，根据《国际紧急经济权力法》（“IEEPA”）征收的某些关税无效；2026年3月，美国国际贸易法院裁定，美国海关与边境保护局（“CBP”）必须退还根据 IEEPA 征收的关税。在截至2026年9月30日的三个月和九个月期间，公司收到部分根据 IEEPA 征收的关税退款；但收到的金额对合并财务报表没有重大影响。公司正积极参与退款流程，但未来退款的时间和金额仍存在不确定性。

附注6——养老金计划

公司于2025年第三季度通过购买团体年金合同，完成了 Preformed Line Products Company Employees’ Retirement Plan（以下简称“美国计划”）的终止。在终止前，美国计划经修订，允许目前尚未领取福利的部分参与者在2025年4月1日至2025年5月31日的选择期内，选择以一次性付款的形式领取福利。2025年7月和8月，因上述选择支付的一次性款项约为$13.1 million。2025年8月，公司向美国计划缴款约$2.9 million，并通过一家金融机构购买了约$18.0 million 的年金合同，以彻底清算美国计划。截至2025年12月31日止年度，公司记录了与终止美国计划相关的税前非现金费用共计$11.7 million，其中$8.8 million为加速确认此前计入累计其他综合损失的递延费用，$2.9 million为精算损失。

由于美国计划于2025年8月终止，截至2026年9月30日的三个月和九个月期间均无定期养老金净费用。

剔除养老金计划终止费用后，2025年截至9月30日的三个月和九个月期间美国计划的定期养老金净费用如下：



	截至2025年9月30日的三个月		截至2025年9月30日的九个月
利息成本	$	268			$	1,058
计划资产预期回报	(239)			(942)
已确认净精算损失	110			432
定期养老金净费用	$	139			$	548

经常性养老金费用的组成部分计入合并收益表中的其他净收益。

附注7——累计其他综合收益（“AOCI”）

下表按组成部分列示AOCI的变动总额（税后）：


	截至2026年9月30日的三个月		截至2025年9月30日的三个月
	未确认福利成本		累计折算调整		总计		未确认福利成本	累计折算调整		总计
6月30日余额	$	—			$	(53,503)		$	(53,503)		$	(5,127)		$	(57,184)	$	(62,311)
重新分类前的其他综合收益（损失）：
外币折算调整	—			(1,179)			(1,179)		—		1,708		1,708


从AOCI重新分类的金额：
设定受益养老金活动的摊销 (a)	—			—			—		435		—		435
确认养老金计划终止产生的递延损失 (a)	—			—			—		4,692		—		4,692
本期其他综合损失（收益）净额	—			(1,179)			(1,179)		5,127		1,708		6,835
9月30日余额	$	—			$	(54,682)		$	(54,682)		$	—		$	(55,476)	$	(55,476)


	截至2026年9月30日的九个月		截至2025年9月30日的九个月
	未确认福利成本		累计折算调整		总计		未确认福利成本	累计折算调整		总计
1月1日余额	$	—			$	(53,365)		$	(53,365)		$	(5,373)		$	(77,536)	$	(82,909)
重新分类前的其他综合收益（损失）：
外币折算调整	—			(1,317)			(1,317)		—		22,060		22,060


从AOCI重新分类的金额：
设定受益养老金活动的摊销 (a)	—			—			—		681		—		681
养老金终止产生的递延损失确认 (a)	—			—			—		4,692		—		4,692
本期其他综合（损失）收益净额	—			(1,317)			(1,317)		5,373		22,060		27,433
9月30日余额	$	—			$	(54,682)		$	(54,682)		$	—		$	(55,476)	$	(55,476)

(a)如附注6“养老金计划”所述，该 AOCI 组成部分计入定期养老金费用净额的计算。

附注8 - 债务和信贷安排

截至2026年 9月 30日，包括应付票据在内的债务总额为5,590万美元，且我们的银行债务与权益比率为10.9%。公司债务的主要组成部分如下所述。

PNC银行信贷额度

截至2026年 9月 30日，公司与PNC Bank, National Association（“PNC”）维持一项信贷额度（“该额度”），额度为6,000万美元，到期日为2028年 6月 30日。利率定义为有担保隔夜融资利率（“SOFR”）加1.225%，除非公司的债务融资额与息税折旧前利润之比超过3.00比1，此时SOFR利差升至1.600%。截至2026年 9月 30日，公司已使用610万美元，该额度尚有5,390万美元可用。截至2026年 9月 30日，该额度下没有未偿还的长期信用证。该额度包含（除其他条款外）维持一定净资产和盈利水平的要求。截至2026年 9月 30日，公司遵守了这些契约条款。

公司飞机定期贷款

2021年 1月 19日，公司从PNC Equipment Finance, LLC获得了一笔定期贷款，本金金额为2,050万美元，用于支付一架新公司飞机的全部购买价款。贷款期限为120个月，固定利率为2.744%。贷款分119期等额按月偿还，自2021年3月1日开始，任何未偿本金和应计利息均须于最后一个月付款日到期支付。截至2026年 9月 30日，该贷款安排的未偿余额为910万美元，其中210万美元归类为流动负债。该飞机已质押作为贷款抵押品。

国际借款安排

公司在部分海外子公司设有其他借款安排，包括透支额度、营运资金信贷额度，以及用于开立信用证和满足短期借款需求的融资安排。截至2026年 9月 30日和2025年 12月 31日，未偿金额分别为4,080万美元和2,090万美元，其中分别有650万美元和460万美元归类为流动负债。截至2026年 9月 30日的4,080万美元未偿金额中，2,180万美元归属于波兰子公司，660万美元归属于西班牙子公司，1,060万美元归属于加拿大子公司。这些安排用于支持日常业务过程中作出的承诺。

2025年 7月 16日，PLP Poland S.A.（“PLP Poland”）作为公司的子公司，与Bank Polska Kasa Opieki Spółka Akcyjna（“Bank Pekao S.A”）签订了一项非循环投资贷款，用于为新制造工厂的建设提供融资，贷款金额最高为PLN100.3 million（2,600万美元），到期日为2035年 1月 31日。

2026年6月30日，PLP Poland修订了与Bank Pekao S.A.签订的非循环投资贷款协议，将年度还款开始日期从2026年6月30日推迟至2027年1月31日。修订后，PLP Poland将在2027年分期偿还PLN9.0 million（$2.4 million），2028年偿还PLN9.6 million（$2.5 million），2029年至2034年每年偿还PLN9.8 million，2035年偿还PLN22.9 million（$6.1 million）。

该贷款的利率为一个月期华沙银行间拆借利率（“WIBOR”）加1.0%；若公司未满足与PNC签订的融资协议中规定的契约，则WIBOR利差升至1.5%。目前的制造工厂

归PLP Poland所有，该公司将厂房在建工程及厂房内所有固定资产质押，作为贷款抵押品。该贷款由公司提供担保。

2026年7月28日，为收购位于加拿大的一处设施及相关土地（“物业”），PLP Canada与Citibank N.A.签订了一项定期贷款协议（“定期贷款”），可借款CAD15.0 million（$10.6 million）。定期贷款所得款项用于再融资公司对该物业收购的部分现金投资。

定期贷款的利率为浮动利率，即加拿大隔夜回购利率平均值（“CORRA”）加每年1.25%，并于2029年7月28日到期。本金须按年度分期偿还：2027年和2028年各偿还CAD0.8 million（$0.5 million），剩余本金CAD13.4 million（$9.6 million）于2029年到期时偿还。

定期贷款包含一项限制性契约，规定未经贷款方事先书面同意，PLP Canada不得将物业质押、抵押或以其他方式用作任何其他债务的抵押品。定期贷款还包含（其中包括）维持一定净资产和盈利水平的要求。该贷款由公司提供担保。

受限现金

截至2026年9月30日和2025年12月31日，公司亚太地区分部分别有$0.5 million和$0.1 million受限现金，用于为银行担保提供担保。受限现金列示于公司合并资产负债表的现金、现金等价物及受限现金项目中。

附注9——所得税

截至2026年和2025年9月30日止三个月期间，公司的有效税率分别为30%和(11)%。有效税率上升主要是由于2025年第三季度因释放归属于公司养老金终止事项的其他综合收益金额而确认税收优惠，以及本季度确认的不可抵扣高管薪酬和股票期权费用增加。

截至2026年和2025年9月30日止九个月期间，公司的有效税率分别为27%和19%。有效税率上升主要是由于2025年第三季度释放归属于公司养老金终止事项的其他综合收益金额所确认的税收优惠，以及2026年第一季度针对与公司法国子公司相关的递延所得税资产计提的估值备抵。

当更有可能发生而非不发生的情况是部分或全部递延所得税资产无法实现时，公司会对递延所得税资产计提估值备抵。截至2026年9月30日的九个月期间，除2026年第一季度针对公司法国子公司记录的金额外，未记录其他估值备抵。

截至2026年9月30日和2025年9月30日的九个月期间，公司未记录任何新的不确定税务状况。

附注10——每股收益的计算

基本每股收益按净利润除以各相应期间已发行普通股加权平均数计算。稀释每股收益按净利润除以列报期间内发行在外的所有潜在稀释性普通股加权平均数计算。

截至9月30日的三个月和九个月期间，基本及稀释每股收益的计算如下：


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025	2026		2025
分子
净利润	$	18,036		$	2,626		$	50,068	$	26,848

分母
股份数的确定（千股）
已发行普通股加权平均数	5,032		4,915	4,891		4,925
股权奖励的稀释影响	40		26	26		26
稀释后普通股加权平均数	5,072		4,941	4,917		4,951

每股普通股收益
基本	$	3.58		$	0.53		$	10.24	$	5.45
稀释	$	3.56		$	0.53		$	10.18	$	5.42

截至2026年和2025年9月30日的三个月和九个月期间，分别有28,000份和7,500份股权奖励未计入稀释每股收益的计算，因为其影响将具有反稀释性。

附注11——商誉及其他无形资产

公司的有限年限及无限年限无形资产如下：


	2026年9月30日		2025年12月31日
	账面总额金额		累计摊销		账面总额金额		累计摊销
有限年限无形资产
专利	$	4,806			$	(4,806)			$	4,806	$	(4,806)
土地使用权	678			(147)			727			(147)
商标	2,026			(1,760)			2,022			(1,736)
技术	7,011			(5,001)			7,240			(4,777)
客户关系	19,496			(13,296)			19,528			(12,717)
	$	34,017			$	(25,010)			$	34,323	$	(24,183)
无限年限无形资产
商誉	$	36,142					$	30,684

公司每年的商誉减值测试计量日为10月1日。公司会根据具体情况开展额外的中期减值评估。截至2026年9月30日的期间未发现减值迹象。

公司在测试商誉是否减值时可采用定量和定性方法。对于采用定性方法的选定报告单位，公司会对影响该报告单位的事件和情况进行定性评估，以确定其公允价值超过账面金额的可能性是否大于不超过的可能性。若得出该结论，则无需进一步评估；否则，公司会对该报告单位进行定量减值测试。

对于定量评估方法，公司结合使用收益法（采用折现现金流法）和市场法（采用可比市场倍数），按报告单位计算公允价值。

随后，公司将报告单位的公允价值与其账面价值进行比较，以评估商誉是否发生减值。公允价值估计具有主观性，并对若干重大假设较为敏感，例如收入增长率、营业利润率、加权平均资本成本和估计市场倍数；这些假设均受对未来市场或经济状况预期的影响。公司认为，所采用的方法、重大假设及权重均属合理，并能得出报告单位适当的公允价值。

公司的唯一一项使用寿命不确定的无形资产是商誉。公司的商誉不得用于税务抵扣。以下表格列示了各分部商誉账面金额的变动情况：


	PLP-USA		美洲		欧洲、中东和非洲		亚太地区	合计

2026年1月1日余额	$	3,078			$	10,626		$	16,980	$	—	$	30,684


收购调整	—			6,199			—		—	6,199
货币折算	—			(73)			(668)		—	(741)
2026年9月30日余额	$	3,078			$	16,752		$	16,312	$	—	$	36,142

附注12——金融资产和负债的公允价值

公允价值以退出价格计量，即在有序交易中，市场参与者之间出售资产可收取的金额或清偿负债需支付的金额。公司按公允价值计量并记录某些资产和负债。对于按公允价值计量的资产和负债，公司采用公允价值层级区分基于市场数据的假设（可观察输入值）与公司的假设（不可观察输入值）。该层级包括以下三个级别：（第1级输入值）活跃市场中相同资产或负债的报价；（第2级输入值）可观察的市场数据输入值，或经市场数据佐证的不可观察输入值；以及（第3级输入值）未经市场数据佐证的不可观察输入值。

下表汇总了截至2026年9月 30日和2025年12月 31日，公司在合并资产负债表中按公允价值记录和计量的资产及负债：


说明	截至2026年9月30日的余额		活跃市场报价相同资产或负债（第1级）		其他重大可观察输入值（第2级）		重大不可观察输入值（第3级）
资产：

利率互换	$	267			$	—		$	267	$	—
资产总额	$	267			$	—		$	267	$	—

负债：
外币远期合约	$	156			$	—		$	156	$	—
补充利润分享计划	12,078			—			12,078		—
负债总额	$	12,234			$	—		$	12,234	$	—


说明	截至2025年12月31日的余额		活跃市场报价相同资产或负债（第1级）		其他重大可观察输入值（第2级）		重大不可观察输入值（第3级）





负债：
外币远期合约	$	97			$	—		$	97	$	—
补充利润分享计划	10,785			—			10,785		—
负债总额	$	10,882			$	—		$	10,882	$	—

公司在国际范围内运营，并进行以外币计价的公司间交易。因此，公司面临市场风险，该风险源于外币交易发生日至

结算日之间的汇率变动。公司目前使用外币远期合约降低部分此类交易相关的风险。这些合约的期限通常为90天或更短，并通常要求在到期时按合约规定的汇率将外币兑换为美元。这些合约未被指定为美国公认会计原则（U.S. GAAP）下的套期工具。因此，外币远期合约公允价值的变动与相关资产负债表项目的交易损益一并计入各会计期间合并收益表中的其他净收益。对于截至2026年9月30日的三个月和九个月，公司分别确认外币远期合约净亏损0.1 million美元和净收益0.2 million美元。对于截至2025年9月30日的三个月和九个月，公司分别确认外币远期合约净收益为零和0.1 million美元。

公司为高管设有一项非合格补充利润分享计划（“补充利润分享计划”）。该未注资补充利润分享计划的负债在2026年9月30日和2025年12月31日分别为12.1 million美元和10.8 million美元。这些金额计入公司合并资产负债表中的其他非流动负债。补充利润分享计划允许参与者将其相应奖励假设性地投资于各种投资选项，其中主要包括共同基金。公司根据参与者所选投资，将收益、利得和损失计入参与者的递延薪酬账户余额。公司根据参与者相关投资账户的市场价值计量补充利润分享计划负债的公允价值。

公司流动金融工具的账面价值（包括现金、现金等价物和受限现金、应收账款、应付账款及短期债务）因这些工具期限较短而近似于公允价值。

截至2026年9月30日和2025年12月31日，公司长期债务的公允价值采用贴现现金流分析估算，依据公司针对类似借款安排的当前增量借款利率，该利率被视为第二级输入值。根据所进行的分析，公司长期债务的公允价值和账面价值如下：


	2026年9月30日		2025年12月31日
	公允价值		账面价值	公允价值		账面价值
长期债务及相关流动到期部分	$	50,393		$	53,559		$	35,080	$	38,252

注13 - 分部信息

公司根据 FASB ASC 280《分部报告》（Segment Reporting）中编纂的会计准则，按四个地理区域报告其分部：PLP-USA、美洲、EMEA（欧洲、中东和非洲）以及亚太地区。每个分部均销售公司各类主要产品。PLP-USA 分部由美国业务组成，生产公司的传统产品，主要服务于国内能源、电信和特种行业产品市场。其他三个分部——美洲、EMEA 和亚太地区——在各自地理区域内支持公司的能源、电信、数据通信和特种行业产品。

负责各区域的分部经理直接向公司执行董事长汇报。执行董事长是首席经营决策者（“CODM”）。这些经理对其所负责分部的整体财务业绩和经营表现负责。各分部内的业务组成部分以最大化公司整体业绩为目标进行管理，而非追求该分部内任何单个业务组成部分的业绩。

向 CODM 报告的各分部业绩数据，用于决定向分部配置资源并评估其业绩。公司根据多个因素评估分部业绩并配置资源，主要依据总销售额和所得税前收入。

CODM 在年度预算和预测过程中主要使用各分部的总销售额和所得税前收入，并据此监控实际业绩。在决定向各分部配置运营和资本资源时，CODM 会考虑这两项指标的预测与实际差异，以及实际业绩与上期业绩的差异。CODM 还会通过比较各分部的业绩，使用分部总销售额和所得税前收入评估各分部表现，并据此确定部分员工的激励薪酬。

下表汇总了公司截至2026年和2025年9月30日止三个月和九个月的应报告分部情况。


	截至2026年9月30日止三个月
	PLP-USA	美洲	EMEA	亚太地区	总计
总销售额	$	104,897		$	37,880	$	41,172		$	43,808	$	227,757
分部间销售额	(2,193)		(4,877)		(3,522)	(7,664)		(18,256)
净销售额	102,704		33,003		37,650	36,144		209,501
减：
产品销售成本	65,424		22,640		25,201	26,234		139,499
毛利	37,280		10,363		12,449	9,910		70,002
成本和费用	24,092		7,151		7,372	6,490		45,105
营业收入	13,188		3,212		5,077	3,420		24,897
利息收入	356		566		72	67		1,061
利息支出	(257)		(310)		(151)	(10)		(728)
其他净收入	1		55		316	(46)		326
所得税前收入	13,288		3,523		5,314	3,431		25,556
所得税费用	4,209		710		1,436	1,185		7,540
非控股权益总额	—		—		20	—		20
归属于 Preformed Line Products Company 股东的净利润总额	$	9,079		$	2,813	$	3,898		$	2,246	$	18,036

	截至2025年9月30日止三个月
	PLP-USA	美洲	EMEA	亚太地区	总计
总销售额	$	82,814		$	32,032	$	39,564		$	35,142	$	189,552
分部间销售额	(1,997)		(2,700)		(1,491)	(5,277)		(11,465)
净销售额	80,817		29,332		38,073	29,865		178,087
减：
产品销售成本	57,143		20,269		25,663	22,163		125,238
毛利	23,674		9,063		12,410	7,702		52,849
成本和费用	16,264		7,474		8,272	7,707		39,717
营业收入（亏损）	7,410		1,589		4,138	(5)		13,132
利息收入	165		381		110	27		683
利息支出	(78)		(6)		(164)	(64)		(312)
其他（费用）收入，净额	(11,780)		61		37	535		(11,147)
所得税前（亏损）收入	(4,283)		2,025		4,121	493		2,356
所得税费用	(2,599)		570		1,141	625		(263)
非控股权益总额	—		—		7	—		7
归属于 Preformed Line Products Company 股东的净（亏损）收益总额	$	(1,684)		$	1,455	$	2,987		$	(132)	$	2,626


	截至2026年9月30日的九个月
	PLP-USA	美洲	EMEA	亚太地区	总计
销售总额	$	305,894		$	105,895	$	118,639		$	113,185	$	643,613
分部间销售	(5,573)		(13,848)		(6,023)	(19,709)		(45,153)
净销售额	300,321		92,047		112,616	93,476		598,460
减：
产品销售成本	191,273		64,010		77,521	67,422		400,226
毛利	109,048		28,037		35,095	26,054		198,234
成本和费用	68,980		20,210		23,821	18,708		131,719
营业收入	40,068		7,827		11,274	7,346		66,515
利息收入	781		1,210		312	169		2,472
利息费用	(347)		(328)		(457)	(67)		(1,199)
其他收入，净额	17		130		396	1		544
所得税前收入	40,519		8,839		11,525	7,449		68,332
所得税费用	9,065		2,177		4,743	2,274		18,259
非控股权益总额	—		—		(5)	—		(5)
归属于 Preformed Line Products Company 股东的净收益总额	$	31,454		$	6,662	$	6,777		$	5,175	$	50,068

	截至2025年9月30日的九个月
	PLP-USA	美洲	EMEA	亚太地区	总计
销售总额	$	240,937		$	87,346	$	104,716		$	94,820	$	527,819
分部间销售	(6,824)		(7,228)		(4,739)	(12,799)		(31,590)
净销售额	234,113		80,118		99,977	82,021		496,229
减：
产品销售成本	155,538		55,545		69,179	59,048		339,310
毛利	78,575		24,573		30,798	22,973		156,919
成本和费用	50,832		19,697		23,572	19,432		113,533
营业收入	27,743		4,876		7,226	3,541		43,386
利息收入	346		901		235	95		1,577
利息费用	(173)		(39)		(479)	(315)		(1,006)
其他（费用）收入，净额	(12,183)		134		307	1,118		(10,624)
所得税前收入	15,733		5,872		7,289	4,439		33,333
所得税费用	1,236		1,719		1,723	1,783		6,461
非控股权益总额	—		—		(24)	—		(24)
归属于 Preformed Line Products Company 股东的净收益总额	$	14,497		$	4,153	$	5,542		$	2,656	$	26,848


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025
长期资产支出
PLP-USA	$	2,073			$	1,334		$	5,975	$	4,248
美洲	18,538			1,298			21,544		3,097
EMEA	5,329			7,602			14,577		21,102
亚太地区	763			389			1,556		1,530
长期资产支出总额	$	26,703			$	10,623		$	43,652	$	29,977


折旧和摊销
PLP-USA	$	3,550		$	3,338		$	10,166		$	9,596
美洲	999		915			3,234			2,600
EMEA	865		1,003			3,338			2,841
亚太地区	694		750			2,241			2,222
折旧和摊销总额	$	6,108		$	6,006		$	18,979		$	17,259


	2026年9月30日		2025年12月31日
可辨认资产
PLP-USA	$	297,507			$	276,840
美洲	147,223			114,111
EMEA	180,045			165,254
亚太地区	117,527			97,416
可辨认资产总额	$	742,302			$	653,621


长期资产
PLP-USA	$	109,577		$	113,261
美洲	46,758		25,692
EMEA	56,853		49,017
亚太地区	34,314		34,811
长期资产总额	$	247,502		$	222,781

附注14——企业收购

收购 JAP Telecom

2025年5月1日，公司收购了 J.A.P. Industria De Materiais Para Telefonia Ltda.（“JAP Telecom”）全部已发行及流通在外的股份。该公司总部位于巴西佩德雷拉。JAP Telecom 是巴西领先的设计商、制造商和供应商，为南美电信基础设施市场提供连接解决方案；其产品组合包括光纤接续盒、连接设备和基础设施配件，可满足当地市场的特定需求。JAP Telecom 截至2024年12月31日年度的销售额约为460万美元。此次收购拓展了公司在该地区的运营能力，并巩固了公司在全球通信市场的地位。收购价格约为580万美元，扣除收到的现金后计算。

收购 JAP Telecom 采用购买法进行会计处理，该方法要求在收购日按各自的公允价值确认所取得的资产和承担的负债。估算某些有形资产、可辨认无形资产和承担的负债的公允价值，需要运用判断来确定适当的假设和估计。所取得的可辨认净资产的公允价值为 $4.9 million。

商誉按转让对价超过已确认可辨认净资产的部分计算，代表收购 JAP Telecom 预计产生的协同效应。确认的商誉为 $0.8 million，在税务上不得抵扣。

所有计量期间调整均在收购日起一年内完成，且此类调整对公司经营业绩和财务状况没有重大影响。

截至 2026 年 9 月 30 日的九个月期间，公司合并财务报表包含 JAP Telecom 约 $4.8 million 的销售额，该销售额计入美洲分部。

收购 Delta Star

2026 年 5 月 5 日，公司收购了 Delta Star Conetores Electricos Ltda（“Delta Star”）全部已发行及流通股份。该实体总部位于巴西萨尔托。Delta Star 是一家制造商，生产高品质变电站连接器，旨在支持电网可靠、长期运行。此次收购扩大了公司在南美洲变电站硬件和组件方面的运营能力，并巩固了公司在能源市场的地位。Delta Star 截至 2025 年 12 月 31 日止年度的未经审计年销售额约为 $8.0 million。收购价格约为 $11.1 million，已扣除收到的现金。

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.

From the acquisition date through September 30, 2026, the Company’s consolidated financial statements included Delta Star sales of approximately $3.8 million and is reported in The Americas segment.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to help the readers of our financial statements better understand our results of operations, financial condition and present business environment. The MD&A is provided as a supplement to, and should be read in conjunction with, our unaudited consolidated financial statements and related notes included elsewhere in this report.

OVERVIEW

Preformed Line Products Company (the “Company”, “PLPC”, “we”, “us”, or “our”) was incorporated in Ohio in 1947. We are an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators, information (data communication), and other similar industries. Our primary products support, protect, connect, terminate, and secure cables and wires. We provide helical solutions, string hardware, connectors, insulators, fiber optic and copper splice closures, solar hardware mounting applications, and electric vehicle charging station foundations. We also provide aerial drone inspection services for utility assets including transmission and distribution power lines, substations, and generation facilities. We are respected around the world for quality, dependability and market-leading customer service. Our goal is to continue to achieve profitable growth as a leader in the research, innovation, development, manufacture, and marketing of technically advanced products and services related to energy, communications and cable systems and to take advantage of this leadership position to sell additional quality products in familiar markets. We have sales and manufacturing operations in 20 different countries.

We report our segments in four geographic regions: PLP-USA (including corporate), The Americas (includes operations in North and South America, excluding PLP-USA), EMEA (Europe, Middle East & Africa) and Asia-Pacific, in accordance with accounting standards codified in Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 280, “Segment Reporting”. Each segment distributes a full range of our primary products. Our PLP-USA segment is comprised of our U.S. operations manufacturing our traditional products primarily supporting our domestic energy, telecommunications and inspection services. Our other three segments, The Americas, EMEA and Asia-Pacific, support our energy, telecommunications, data communication, solar and other products in each respective geographical region.

The segment managers responsible for each region report directly to the Company’s Executive Chairman, who is the chief operating decision maker, and are accountable for the financial results and performance of their entire segment for which they are responsible. The business components within each segment are managed to maximize the results of the entire operating segment and the Company rather than the results of any individual business component of the segment.

We evaluate segment performance and allocate resources based on several factors primarily based on gross sales and income before income taxes.

PREFACE

The following discussion describes our results of operations for the three and nine months ended September 30, 2026 and 2025. Our consolidated financial statements are prepared in conformity with United States (\"U.S.\") generally accepted accounting principles (\"GAAP\"). Our discussions of the financial results include non-GAAP measures (e.g., foreign currency impact) to provide additional information concerning our financial results and provide information that we believe is useful to the readers of our financial statements in the assessment of our performance and operating trends.

Net sales of $209.5 million increased $31.4 million for the three months ended September 30, 2026 year-over-year and net sales of $598.5 million increased $102.2 million for the nine months ended September 30, 2026 year-over-year, mainly due to an increase in energy and, to a lesser extent, communications sales, led by PLP-USA. While the nine months ended September 30, 2026 sales amounts are the highest in the Company's history, tariffs, especially Section 232 tariffs, and geopolitical developments continue to present headwinds related to raw material imports, commodity prices and freight costs, impacting essential inputs like steel, aluminum and plastic resins. While we continue to manage trade matters and commodity prices proactively, further tariff increases or geopolitical events may give rise to inflationary pressures, which may require further price adjustments to maintain profit margin, and any price increases may have a negative effect on demand. Please see Note 5 of the Notes to the Consolidated Financial Statements for further considerations on tariffs and refund process as a result of the February 2026 Supreme Court ruling.

Our financial statements are subject to fluctuations in the exchange rates of foreign currencies in relation to the U.S. dollar. The fluctuations of foreign currencies during the three and nine months ended September 30, 2026 had a favorable impact on net sales of $3.1 million and $16.2 million, respectively. The fluctuations on foreign currencies had a favorable impact of $0.4 million and $1.0 million on net income for the three- and nine-months ended September 30, 2026, respectively. The fluctuations of foreign currencies during the three and nine months ended September 30, 2025 had a favorable impact on net sales of $1.9 million and unfavorable impact of $3.0 million, respectively. The fluctuations on foreign currencies had a favorable impact on net income of $0.3 million for the three months ended September 30, 2025 and a de minimis impact on net income for the nine months ended September 30, 2025. On a reportable segment basis, the impact of foreign currency translation on net sales and net income for the three- and nine- months ended September 30, 2026, was as follows:


	Foreign Currency Translation Impact
	Three Months Ended September 30, 2026		Nine Months Ended September 30, 2026
(Thousands of dollars)	Net Sales		Net Income		Net Sales		Net Income
The Americas	$	1,649			$	166		$	6,624	$	474
EMEA	145			80			4,937		269
Asia-Pacific	1,275			120			4,672		276
Total	$	3,069			$	366		$	16,233	$	1,019

While uncertainty remains in the global economy due to trade matters and geopolitical instability, we believe our business portfolio, which is focused on key megatrends impacting both the power and telecommunications markets, as well as our significant U.S. manufacturing footprint, and financial position, are sound and strategically well-positioned. We remain focused on assessing our global market opportunities and overall manufacturing capacity in conjunction with the requirements of local manufacturing in the markets that we serve. As necessary, we will modify redundant processes and further utilize our global manufacturing network to manage costs, including tariff impacts, increase sales volume and deliver value to our customers. We closely monitor developments in trade policy and geopolitical instability and actively evaluate strategies to mitigate the impact of tariffs or supply chain constraints, including sourcing alternatives, where needed. We have continued to invest in the business to expand into new markets for the Company, evaluate strategic mergers and acquisitions, improve efficiency, develop new products and increase our capacity. As of September 30, 2026, our liquidity remains strong with our bank debt to equity percentage at 10.9%. We can borrow needed funds at a competitive interest rate under the Facility.

RESULTS OF OPERATIONS

The following table sets forth a summary of the Company’s Statements of Consolidated Income and the percentage of net sales for the three months ended September 30, 2026 and 2025. The Company’s past operating results are not necessarily indicative of future operating results.


	Three Months Ended September 30,
(Thousands of dollars)	2026		2025		Change
Net sales	$	209,501			100.0	%		$	178,087		100.0	%	$	31,414
Cost of products sold	139,499			66.6			125,238			70.3		14,261
GROSS PROFIT	70,002			33.4			52,849			29.7		17,153
Costs and expenses	45,105			21.5			39,717			22.3		5,388
OPERATING INCOME	24,897			11.9			13,132			7.4		11,765
Other income (expense), net	659			0.3			(10,776)			(6.1)		11,435
INCOME BEFORE INCOME TAXES	25,556			12.2			2,356			1.3		23,200
Income tax expense (benefit)	7,540			3.6			(263)			(0.1)		7,803
NET INCOME	18,016			8.6			2,619			1.5		15,397
Net loss attributable to noncontrolling interests	20			0.0			7			0.0		13
NET INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS	$	18,036			8.6	%		$	2,626		1.5	%	$	15,410

Net sales. In 2026, net sales were $209.5 million, an increase of $31.4 million, or 18%, compared to 2025. Excluding the effect of currency translation, net sales increased 16% as summarized in the following table:


	Three Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Excluding Currency Translation		% Change
Net sales
PLP-USA	$	102,704			$	80,817		$	21,887		$	—		$	21,887	27	%
The Americas	33,003			29,332			3,671		1,649		2,022		7	%
EMEA	37,650			38,073			(423)		145		(568)		(1)	%
Asia-Pacific	36,144			29,865			6,279		1,275		5,004		17	%
Consolidated	$	209,501			$	178,087		$	31,414		$	3,069		$	28,345	16	%

The increase in PLP-USA net sales of $21.9 million, or 27%, was primarily due to higher volumes in energy sales and, to a lesser extent, communications sales. International net sales for the three months ended September 30, 2026 were favorably affected by $3.1 million when local currencies were converted to U.S. dollars. The following discussion of changes in net sales excludes the effect of currency translation. The Americas net sales of $33.0 million increased $2.0 million, or 7%, primarily due to higher volumes in energy sales mainly due to the acquisition of Delta Star in May 2026 and higher communications volumes. EMEA net sales of $37.7 million decreased $0.6 million primarily due to lower volumes in communications sales. Asia-Pacific net sales of $36.1 million increased $5.0 million, or 17%, primarily due to higher volumes in energy sales.

Gross profit. Gross profit of $70.0 million for 2026 increased $17.2 million, or 32%, compared to 2025. Excluding the effect of currency translation, gross profit increased $16.2 million, or 31%, as summarized in the following table:


	Three Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Excluding Currency Translation		% Change
Gross profit
PLP-USA	$	37,280			$	23,674		$	13,606		$	—		$	13,606	57	%
The Americas	10,363			9,063			1,300		539		761		8	%
EMEA	12,449			12,410			39		108		(69)		(1)	%
Asia-Pacific	9,910			7,702			2,208		323		1,885		24	%
Consolidated	$	70,002			$	52,849		$	17,153		$	970		$	16,183	31	%

PLP-USA gross profit of $37.3 million increased by $13.6 million, or 57%, compared to the same period in 2025, primarily due to higher sales volumes, favorable product mix and the benefit of price increases enacted in 2025 and 2026, partially offset by increased material and manufacturing costs. International gross profit for the period ended September 30, 2026 was favorably impacted by $1.0 million when local currencies were translated to U.S. dollars. The following discussion of gross profit changes excludes the effects of currency translation. The Americas gross profit increased $0.8 million, or 8%, which was primarily the result of higher sales volume driven by the acquisition of Delta Star in May 2026. EMEA gross profit had a decrease of $0.1 million due to an increase in material costs. Asia-Pacific gross profit increased $1.9 million, or 24%, which was primarily driven by higher sales volume and favorable product mix.

Costs and expenses. Costs and expenses of $45.1 million for the three months ended September 30, 2026 increased $5.4 million, or 14%, when compared to 2025. Excluding the effect of currency translation and intercompany transactions, costs and expenses increased $5.0 million, or 13%, as summarized in the following table:


	Three Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Due to Intercompany Transactions		Change Excluding Currency and Intercompany Transactions	% Change
Costs and expenses
PLP-USA	$	24,092			$	16,264		$	7,828		$	—		$	2,673			$	5,155	32	%
The Americas	7,151			7,474			(323)		305		(920)		292			4	%
EMEA	7,372			8,272			(900)		(31)		(522)		(347)			(4)	%
Asia-Pacific	6,490			7,707			(1,217)		125		(1,231)		(111)			(1)	%
Consolidated	$	45,105			$	39,717		$	5,388		$	399		$	—			$	4,989	13	%

Excluding intercompany transactions, PLP-USA costs and expenses increased $5.2 million, or 32% year-over-year, primarily due to increased selling and personnel costs, supporting strategic market growth initiatives in core product offerings in both energy and communications. International costs and expenses for the three months ended September 30, 2026 were unfavorably impacted when local currencies were translated to U.S. dollars and favorably impacted by intercompany transactions with PLP-USA. The following discussion of costs and expenses excludes the effect of currency translation and intercompany transactions. The Americas costs and expenses of $7.2 million increased $0.3 million primarily due to increases in personnel costs, offset by the impact of foreign currency remeasurement. EMEA costs and expenses of $7.4 million decreased by $0.3 million primarily due to decreases in personnel and selling costs. Asia-Pacific costs and expenses of $6.5 million decreased $0.1 million primarily due to foreign currency remeasurement, offset by increases in personnel costs.

Other Income (Expense), net. Other income, net of $0.7 million for the three months ended September 30, 2026 was favorable by $11.5 million when compared to $10.8 million of Other expense, net for the three months ended September 30, 2025. The favorable movement was mainly due to the $11.7 million pension termination charge recorded in Q3 2025.

Income taxes. Income taxes for the three months ended September 30, 2026 and 2025 were $7.5 million and $(0.3) million based on pre-tax income of $25.6 million and $2.4 million, respectively. The tax rate for the three months ended September 30, 2026 and 2025 was 30% and (11)%, respectively. The higher effective tax rate for the three months ended September 30, 2026 compared to the three months ended September 30, 2025 was a result of the tax benefit recorded at Q3 2025 due to the release of amounts in Other Comprehensive Income attributed to the Company’s pension termination as well as an increase in non-deductible officers' compensation and stock option expense recognized in the quarter.

Net income. As a result of the preceding items, net income for the three months ended September 30, 2026 was $18.0 million, compared to $2.6 million for 2025. Excluding the effect of currency translation, net income increased $15.0 million as summarized in the following table. The increase in net income was due to increases in operating income and other income as described above.


	Three Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Excluding Currency Translation		% Change (a)
Net income (loss)
PLP-USA	$	9,079			$	(1,684)		$	10,763		$	—		$	10,763	NM
The Americas	2,813			1,455			1,358		166		1,192		82	%
EMEA	3,898			2,987			911		80		831		28	%
Asia-Pacific	2,246			(132)			2,378		120		2,258		NM
Consolidated	$	18,036			$	2,626		$	15,410		$	366		$	15,044	NM

(a)NM = Not meaningful; percentage change is not considered meaningful to investors due to the nature or magnitude of the underlying amounts.

NINE MONTHS ENDED SEPTEMBER 30, 2026 COMPARED TO NINE MONTHS ENDED SEPTEMBER 30, 2025

The following table sets forth a summary of the Company’s Statements of Consolidated Income and the percentage of net sales for the nine months ended September 30, 2026 and 2025. The Company’s past operating results are not necessarily indicative of future operating results.


	Nine Months Ended September 30,
(Thousands of dollars)	2026		2025		Change
Net sales	$	598,460			100.0	%		$	496,229			100.0	%	$	102,231
Cost of products sold	400,226			66.9			339,310			68.4			60,916
GROSS PROFIT	198,234			33.1			156,919			31.6			41,315
Costs and expenses	131,719			22.0			113,533			22.9			18,186
OPERATING INCOME	66,515			11.1			43,386			8.7			23,129
Other income (expense), net	1,817			0.3			(10,053)			(2.0)			11,870
INCOME BEFORE INCOME TAXES	68,332			11.4			33,333			6.7			34,999
Income tax expense	18,259			3.1			6,461			1.3			11,798
NET INCOME	50,073			8.4			26,872			5.4			23,201
Net income attributable to noncontrolling interests	(5)			(0.0)		(24)			(0.0)		19
NET INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS	$	50,068			8.4	%		$	26,848			5.4	%	$	23,220

Net sales. In 2026, net sales were $598.5 million, an increase of $102.2 million, or 21%, compared to 2025. Excluding the effect of currency translation, net sales increased 17% as summarized in the following table:


	Nine Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Excluding Currency Translation		% Change
Net sales
PLP-USA	$	300,321			$	234,113		$	66,208		$	—		$	66,208	28	%
The Americas	92,047			80,118			11,929		6,624		5,305		7	%
EMEA	112,616			99,977			12,639		4,937		7,702		8	%
Asia-Pacific	93,476			82,021			11,455		4,672		6,783		8	%
Consolidated	$	598,460			$	496,229		$	102,231		$	16,233		$	85,998	17	%

The increase in PLP-USA net sales of $66.2 million, or 28%, was primarily due to higher volumes in energy sales and, to a lesser extent, communications sales. International net sales for the nine months ended September 30, 2026 were favorably affected by $16.2 million when local currencies were converted to U.S. dollars. The following discussion of changes in net sales excludes the effect of currency translation. The Americas net sales of $92.0 million increased $5.3 million, or 7%, primarily due to an increase in communications sales due to the acquisition of JAP Telecom in May 2025 and, to a lesser extent, an increase in energy sales primarily related to the acquisition of Delta Star in May 2026. EMEA net sales of $112.6 million increased $7.7 million, or 8% primarily due to higher volumes in energy product sales. Asia-Pacific net sales of $93.5 million increased $6.8 million, or 8%, primarily due to volume increases in energy product and special industries sales.

Gross profit. Gross profit of $198.2 million for 2026 increased $41.3 million, or 26%, compared to 2025. Excluding the effect of currency translation, gross profit increased $36.5 million, or 23%, as summarized in the following table:


	Nine Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Excluding Currency Translation		% Change
Gross profit
PLP-USA	$	109,048			$	78,575		$	30,473		$	—		$	30,473	39	%
The Americas	28,037			24,573			3,464		2,057		1,407		6	%
EMEA	35,095			30,798			4,297		1,575		2,722		9	%
Asia-Pacific	26,054			22,973			3,081		1,172		1,909		8	%
Consolidated	$	198,234			$	156,919		$	41,315		$	4,804		$	36,511	23	%

PLP-USA gross profit of $109.0 million increased by $30.5 million, or 39%, compared to the same period in 2025, primarily due to higher sales volumes and fixed cost leverage, in addition to the benefit of price increases enacted in 2025 and 2026, partially offset by material and manufacturing costs. International gross profit for the period ended September 30, 2026 was favorably impacted by $4.8

million when local currencies were translated to U.S. dollars. The following discussion of gross profit changes excludes the effects of currency translation. The Americas gross profit increased $1.4 million, or 6%, which was primarily the result of higher sales volumes. EMEA gross profit increased $2.7 million, or 9%, primarily due to higher sales volume and favorable product mix. Asia-Pacific gross profit increased $1.9 million, primarily from higher sales volume, offset by unfavorable product mix.

Costs and expenses. Costs and expenses of $131.7 million for the nine months ended September 30, 2026 increased $18.2 million, or 16%, when compared to 2025. Excluding the effect of currency translation and intercompany transactions, costs and expenses increased $15.1 million, or 13%, as summarized in the following table:


	Nine Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Due to Intercompany Transactions		Change Excluding Currency and Intercompany Transactions	% Change
Costs and expenses
PLP-USA	$	68,980			$	50,832		$	18,148		$	—		$	5,473			$	12,675	25	%
The Americas	20,210			19,697			513		1,359		(2,593)		1,747			9	%
EMEA	23,821			23,572			249		1,013		(1,490)		726			3	%
Asia-Pacific	18,708			19,432			(724)		678		(1,390)		(12)			—	%
Consolidated	$	131,719			$	113,533		$	18,186		$	3,050		$	—			$	15,136	13	%

Excluding intercompany transactions, PLP-USA costs and expenses of $69.0 million increased $12.7 million, or 25% year-over-year. PLP-USA’s increase was primarily attributable to higher personnel and selling costs. International costs and expenses for the nine months ended September 30, 2026 were unfavorably impacted by $3.1 million when local currencies were translated to U.S. dollars and favorably impacted by intercompany transactions with PLP-USA. The following discussion of costs and expenses excludes the effect of currency translation and intercompany transactions. The Americas costs and expenses of $20.2 million increased $1.7 million primarily due to an increase in personnel and selling costs. EMEA costs and expenses of $23.8 million increased by $0.7 million primarily due to higher personnel and facility costs. Asia-Pacific costs and expenses of $18.7 million had a de minimis change.

Other Income (Expense), net. Other income, net of $1.8 million for the nine months ended September 30, 2026 was favorable by $11.9 million when compared to Other expense, net for the nine months ended September 30, 2025 of $10.1 million. The favorable movement was mainly due to the $11.7 million pension termination charge recorded in Q3 2025.

Income taxes. Income taxes for the nine months ended September 30, 2026 and 2025 were $18.3 million and $6.5 million based on pre-tax income of $68.3 million and $33.3 million, respectively. The tax rate for the nine months ended September 30, 2026 and 2025 was 27% and 19%, respectively. The effective tax rate for the nine months ended September 30, 2026 was higher than the effective tax rate for the same period in 2025 mainly due to the tax benefit recorded at Q3 2025 from the release of amounts in Other Comprehensive Income attributed to the Company’s pension termination and a valuation allowance recorded in Q1 2026 on deferred tax assets related to the Company’s French subsidiary.

Net income. As a result of the preceding items, net income for the nine months ended September 30, 2026 was $50.1 million, compared to $26.8 million for 2025. Excluding the effect of currency translation, net income increased $22.2 million as summarized in the following table. The increase in net income was due to increases in operating income and other income as described above:


	Nine Months Ended September 30,
(Thousands of dollars)	2026		2025		Change		Change Due to Currency Translation	Change Excluding Currency Translation		% Change
Net income (loss)
PLP-USA	$	31,454			$	14,497		$	16,957		$	—		$	16,957	117	%
The Americas	6,662			4,153			2,509		474		2,035		49	%
EMEA	6,777			5,542			1,235		269		966		17	%
Asia-Pacific	5,175			2,656			2,519		276		2,243		84	%
Consolidated	$	50,068			$	26,848		$	23,220		$	1,019		$	22,201	83	%

APPLICATION OF CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Our critical accounting policies are consistent with the information set forth in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, included in our Form 10-K for the year ended December 31, 2025 filed on March 5, 2026 with the Securities and Exchange Commission and are, therefore, not presented herein.

WORKING CAPITAL, LIQUIDITY AND CAPITAL RESOURCES

Management Assessment of Liquidity

We measure liquidity on the basis of our ability to meet short-term and long-term operating needs, repay debt, fund additional investments, including acquisitions, and make dividend payments to shareholders. Significant factors affecting the management of liquidity are cash flows from operating activities, capital expenditures, cash dividends, business acquisitions and access to bank lines of credit.

Our investments include expenditures required for equipment and facilities as well as expenditures in support of our strategic initiatives. During the first nine months of 2026, we used cash of $43.7 million for capital expenditures, mainly related to new facilities in the EMEA region and Canada. We ended the first nine months of 2026 with $99.3 million of cash, cash equivalents and restricted cash (collectively, “Cash”). Our Cash is held in various locations throughout the world. At September 30, 2026, the majority of our Cash was held outside the U.S. We expect most accumulated non-U.S. Cash balances will remain outside of the U.S. and that we will meet U.S. liquidity needs through future operating cash flows, use of U.S. Cash balances, external borrowings, or some combination of these sources. We complete comprehensive reviews of our significant customers and their creditworthiness by analyzing financial statements for customers where we have identified a measure of increased risk. We closely monitor payments and developments which may signal possible customer credit issues. We currently have not identified any potential material impact on our liquidity from customer credit issues.

Total debt, including notes payable, at September 30, 2026 was $55.9 million. 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 September 30, 2026, the Company had utilized $6.1 million with $53.9 million available on the Facility. There were no long-term outstanding letters of credit on the Facility as of September 30, 2026. Our bank debt to equity percentage was 10.9%. The Facility contains, among other provisions, requirements for maintaining levels of net worth and profitability. At September 30, 2026, the Company was in compliance with these covenants.

On January 19, 2021, the Company received funding for a term loan from PNC Equipment Finance, LLC in the principal amount of $20.5 million for the full amount of the purchase price for a new corporate aircraft. As of September 30, 2026, $9.1 million was outstanding on this debt facility, of which $2.1 million was classified as current. The aircraft has been pledged as collateral against the loan.

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 September 30, 2026 and December 31, 2025, $40.8 million and $20.9 million were outstanding, of which $6.5 million and $4.6 million were classified as current, respectively. Of the $40.8 million outstanding at September 30, 2026, $21.8 million is attributable to the Poland subsidiary, $6.6 million is attributable to the Spain subsidiary and $10.6 million is attributable to the Canada 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 PLN100.3 million ($26.0 million) with a maturity date of January 31, 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 PLN9.0 million ($2.4 million) in 2027, PLN9.6 million ($2.5 million) in 2028, PLN9.8 million ($2.5 million) annually from 2029 through 2034, and PLN22.9 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%. The current manufacturing plant owned by PLP Poland, the plant under construction and all fixed assets within the plants are pledged as collateral against the loan. The loan also is guaranteed by the Company.

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 CAD15.0 million ($10.6 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 CAD0.8 million ($0.5 million) in each of 2027 and 2028, with the remaining principal balance of CAD13.4 million ($9.6 million) due at maturity in 2029.

The Term Loan contains a negative covenant that restricts PLP Canada from pledging, mortgaging, or otherwise using the acquired 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 Company's Asia-Pacific segment had $0.5 million and $0.1 million in restricted cash used to secure bank guarantees at September 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.

We expect that our major source of funding for 2026 and beyond will be our operating cash flows, our existing Cash as well as our Facility agreement. Except for current earnings in certain jurisdictions, our operating income is deemed to be indefinitely reinvested in foreign jurisdictions. We currently do not intend nor foresee a need to repatriate these funds. We believe our future operating cash flows will be more than sufficient to cover debt repayments, other contractual obligations, capital expenditures and dividends for the next 12 months and thereafter for the foreseeable future. In addition, we believe our borrowing capacity provides substantial financial resources, if needed, to supplement funding of capital expenditures and/or acquisitions. We also believe that we can further expand our borrowing capacity, if necessary; however, we do not believe we would increase our debt to a level that would have a material adverse impact upon results of operations or financial condition.

Sources and Uses of Cash

Net cash provided by operating activities for the nine months ended September 30, 2026 was $68.1 million compared to $51.5 million in the comparable prior year nine-month period. The $16.6 million increase was primarily a result of the increase in net income, partially offset by the net unfavorable movement in non-cash items primarily from the pension termination charge recorded in Q3 2025.

Net cash used in investing activities for the nine months ended September 30, 2026 was $52.5 million compared to $33.2 million in the comparable prior year nine-month period. The $19.3 million change was primarily a result of the acquisition of Delta Star in May 2026, an increase in capital expenditures primarily related to the purchase of a building in Canada, as well as lower net proceeds from investments.

Net cash used in financing activities for the nine months ended September 30, 2026 was $0.4 million compared to $7.3 million in the comparable prior year nine-month period. The $6.9 million change was primarily the result of an increase in proceeds from long term debt and notes payable to banks, offset by an increase in common share repurchases.

We have commitments under operating leases primarily for office and manufacturing space, transportation equipment, office and computer equipment and finance leases primarily for equipment. At September 30, 2026, we had $1.9 million of current operating lease liabilities and $6.6 million of noncurrent operating lease liabilities. Total liabilities related to finance lease obligations were approximately $0.5 million at September 30, 2026.

As of September 30, 2026, the Company had total outstanding guarantees of $13.6 million. Additionally, certain domestic and foreign customers require the Company to issue letters of credit or performance bonds as a condition of placing an order. As of September 30, 2026, the Company had total outstanding letters of credit of $3.0 million.

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 September 30, 2026, and December 31, 2025, $40.8 million and $20.9 million were outstanding, of which $6.5 million and $4.6 million were classified as current, respectively. Of the $40.8 million outstanding at September 30, 2026, $21.8 million is attributable to the Poland subsidiary, $6.6 million is attributable to the Spain subsidiary and $10.6 million is attributable to the Canada subsidiary. These facilities support commitments made in the ordinary course of business.

FORWARD LOOKING STATEMENTS

Cautionary Statement for “Safe Harbor” Purposes Under The Private Securities Litigation Reform Act of 1995

This Form 10-Q and other documents we file with the SEC contain forward-looking statements regarding the Company’s and management’s beliefs and expectations. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. As a general matter, forward-looking statements are those focused upon future plans, objectives or performance (as opposed to historical items) and include statements of anticipated events or trends and expectations and beliefs relating to matters not historical in nature. Use of words such as “anticipates,” “believes,” “may,” “should,” “will,” “would,” “could,” “plans,” “projects,” “expects,” “estimates,” “predicts,” “targets,” “forecasts,” “intends,” “contemplates,” and similar words may identify forward-looking statements. Such forward-looking statements are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Such uncertainties and factors could cause the Company’s actual results to differ materially from those matters expressed in or implied by such forward-looking statements.

The following factors, among others, could affect the Company’s future performance and cause the Company’s actual results to differ materially from those expressed or implied by forward-looking statements made in this report:

•The overall demand for cable anchoring and control hardware for electrical transmission and distribution lines on a worldwide basis, which, historically, has a slow growth rate in mature markets such as the United States (“U.S.”), Canada, Australia and Western Europe and may grow slowly or experience prolonged delay in developing regions despite expanding power needs;

•The impact of global economic conditions, including the impact of inflation, previously enacted or future tariffs and related economic uncertainty (including the outcome of legal challenges and refunds), and rising interest rates, on the Company’s ongoing profitability and future growth opportunities in the Company’s core markets in the U.S. and other foreign countries, which may experience continued or further instability due to political and economic conditions, social unrest, acts of war, military conflict (such as the Russian-Ukrainian, Israeli-Palestinian and Iranian conflicts), international hostilities or the perception that hostilities may be imminent, terrorism, changes in diplomatic and trade relationships and public health concerns (including viral outbreaks such as COVID-19);

•The ability of the Company’s customers to raise funds needed to build the infrastructure projects their customers require;

•Technological developments that affect longer-term trends for communication lines, such as wireless communication;

•The decreasing demand for product supporting copper-based infrastructure due to the introduction of products using new technologies or adoption of new industry standards;

•The Company’s success at continuing to develop proprietary technology and maintaining high quality products and customer service to meet or exceed new industry performance standards and individual customer expectations;

•The Company’s success in strengthening and retaining relationships with the Company’s customers, growing sales at targeted accounts and expanding geographically;

•The extent to which the Company is successful at expanding the Company’s product line or production facilities into new areas or implementing efficiency measures at existing facilities;

•The effects of fluctuation in currency exchange rates upon the Company’s foreign subsidiaries’ operations and reported results from international operations, together with non-currency risks of investing in and conducting significant operations in foreign countries, including those relating to political, social, economic, trade and regulatory factors;

•The Company’s ability to identify, complete, obtain funding for and integrate acquisitions for profitable growth;

•The potential impact of consolidation, deregulation and bankruptcy among the Company’s suppliers, competitors and customers and of any legal or regulatory claims;

•The relative degree of competitive and customer price pressure on the Company’s products;

•The cost, availability and quality of raw materials required for the manufacture of products and any tariffs that have been, and in the future may be, associated with the purchase of these products or components of these products. The Company’s supply chain has faced and could continue to face disruptions and constraints from such tariffs, inflationary pressures and ongoing wars and military conflicts, which could have a material, adverse effect on the ability to secure raw materials and supplies and customer demand;

•Strikes, labor disruptions and other fluctuations in labor costs;

•Changes and uncertainty in significant government regulations and funding priorities, including those affecting environmental compliance or other regulatory matters, or third-party litigation matters;

•Security breaches or other disruptions to the Company’s information technology structure;

•The telecommunication market’s continued deployment of Fiber-to-the-Premises;

•The impact of any failure to timely implement and maintain adequate financial, information technology and management processes and controls and procedures; and

•Those factors described under the heading “Risk Factors” in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 which was filed on March 5, 2026.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company operates manufacturing facilities and offices around the world and uses fixed and floating rate debt to finance the Company’s global operations. As a result, the Company is subject to business risks inherent in non-U.S. activities, including political and economic uncertainty, import and export limitations and market risk related to changes in interest rates and foreign currency exchange rates. The Company believes that the political and economic risks related to the Company’s international operations are mitigated due to the geographic diversity in which the Company’s international operations are located.

There have been no material changes in the Company’s disclosed exposure to market risk since December 31, 2025. See “Item 7A. Quantitative and Qualitative Disclosures About Market Risk” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

The Company’s Principal Executive Officer and Principal Accounting Officer have concluded that the Company’s disclosure controls and procedures, as defined in Rule 13a-15(e) or Rule 15d-15(e) of the Securities Exchange Act of 1934, as amended, were effective as of September 30, 2026.

Changes in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting as defined in Rule 13a-15(f) and 15d-15(f) of the Securities and Exchange Act of 1934, as amended, during the three-month period ended September 30, 2026 that materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Information regarding the Company’s current legal proceedings is presented in Note 5 of the Notes to the Consolidated Financial Statements.

ITEM 1A. RISK FACTORS

There were no material changes from the risk factors previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 5, 2026. In addition, the ongoing tariff developments and new and ongoing conflicts involving the U.S. and other countries could potentially exacerbate other risks discussed, any of which could have a material adverse effect on the Company. The situation continues to change, and additional impacts may arise that the Company is not aware of currently.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On November 1, 2023, the Board of Directors authorized a new plan to repurchase up to an additional 212,952 of Preformed Line Products Company common shares, resulting in a total of 250,000 shares available for repurchase with no expiration date. The following table reflects repurchases for the three-month period ended September 30, 2026.


Period	Total Number of Shares Purchased	Average Price Paid per Share ($)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that may yet be Purchased under the Plans or Programs
July	—	$	—		—	75,779
August	610	$	468.03		610	75,169
September	200	$	435.21		200	74,969
Total	810

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES


Exhibit Number		Exhibit

31.1		Certification of the Principal Executive Officer, Robert G. Ruhlman, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.

31.2		Certification of the Principal Accounting Officer, Andrew S. Klaus, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.

32.1		Certification of the Principal Executive Officer, Robert G. Ruhlman, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, furnished.

32.2		Certification of the Principal Accounting Officer, Andrew S. Klaus, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, furnished.

101.INS		Inline XBRL Instance Document.

101.SCH		Inline XBRL Taxonomy Extension Schema Document.

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.

104		Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


		Preformed Line Products Company

October 29, 2026		/s/ Robert G. Ruhlman
		Robert G. Ruhlman
		Executive Chairman
		(principal executive officer)

October 29, 2026		/s/ Andrew S. Klaus
		Andrew S. Klaus
		Chief Financial Officer
		(principal financial and accounting officer)

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