Quarterly ResultMay 4, 2026, 05:02 PM
UFP Technologies Q1 Net Sales $154.2M, Net Income $17.5M
AI Summary
UFP Technologies announced strong first quarter 2026 financial results, with net sales increasing 4.1% to $154.2 million and net income rising 1.8% to $17.5 million. The growth was primarily driven by a 5.9% increase in medical sales, offsetting a decline in non-medical sales as the company focuses on high-growth MedTech opportunities. The company also plans to expand capacity with two new facilities in the Dominican Republic in Q2 to meet strong demand, particularly in robotic surgery and safe patient handling.
Key Highlights
- Net sales increased 4.1% to $154.2 million in Q1 2026 from $148.1 million in Q1 2025.
- Net income rose 1.8% to $17.5 million in Q1 2026 compared to $17.2 million in Q1 2025.
- GAAP earnings per diluted share were $2.24, up from $2.21 in the prior year quarter.
- Medical sales grew 5.9% to $143.4 million, while non-medical sales decreased 15.0% to $10.8 million.
- Gross margin improved to 28.8% in Q1 2026 from 28.5% in Q1 2025.
- Operating income increased 1.0% to $23.4 million in Q1 2026.
- Company will take possession of two new facilities in the Dominican Republic in Q2 for capacity expansion.
- Adjusted EBITDA increased to $31.0 million from $30.2 million in Q1 2025.