UFP Technologies Inc

UFPT

Equity

ISIN US9026731029 / Valor 145662

NASDAQ (2025-03-14)

USD 210.69+0.51%

UFP Technologies Inc
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About company

UFP Technologies Inc. is a company specializing in the design, engineering, and manufacturing of custom solutions, with a primary focus on medical devices and sterile packaging. The company leverages its expertise to provide comprehensive solutions that meet the specific needs of its clients. In addition to its core focus on the medical sector, UFP Technologies also produces a range of highly engineered custom products for various industries. The company is known for its ability to transform client visions into tangible products through its advanced engineering and manufacturing capabilities.

Summarized from source with an LLMView SourceSector: Industrials

Net Income Growth

UFP Technologies Inc. reported a significant increase in net income for the third quarter of 2024, rising 40% to $16.4 million compared to $11.7 million in the same quarter of 2023. This growth reflects the company's successful integration of recent acquisitions and strong performance in key markets.

Sales Surge

For the third quarter of 2024, UFP Technologies Inc. achieved a 44% increase in sales, reaching $145.2 million, up from $100.8 million in the third quarter of 2023. This surge was driven by robust demand in the medical market, particularly in robotic surgery and infection prevention sectors.

Year-to-Date Performance

UFP Technologies Inc. reported a 21% increase in sales for the nine-month period ending September 30, 2024, totaling $360.4 million compared to $298.6 million in the same period of 2023. Net income for this period also rose by 28% to $42.6 million, highlighting the company's sustained growth trajectory.

Gross Margin Improvement

The gross margin for UFP Technologies Inc. improved to 28.6% in the third quarter of 2024, up from 27.5% in the same quarter of the previous year. This improvement was achieved despite incurring over $1 million in purchase accounting-related costs associated with recent acquisitions.

Positive Outlook

Looking ahead, UFP Technologies Inc. remains optimistic about its future prospects. The company plans to continue executing its growth initiatives, further integrate recent acquisitions, and enhance its platform with additional talent and capabilities to increase value for customers and drive future success.

Summarized from source with an LLMView Source

Key figures

9.71%1Y

265%3Y

428%5Y

Performance

52.1%1Y

44.2%3Y

43.7%5Y

Volatility