UFP Technologies (UFPT) Q3 FY2023 earnings: revenue $101 million, up 3.9% on the year

UFP Technologies Inc. (UFPT) reported revenue of $101 million for Q3 FY2023, the quarter ended 30 September 2023, up 3.9% on the same quarter a year earlier. Net income was $12 million, down 40.2% on the year, and diluted earnings per share $1.52. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2026.

Revenue$101 millionup 3.9%

Net income$12 milliondown 40.2%

Diluted EPS$1.52

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	101	n/a	n/a	n/a
Cost of revenue	73.0	n/a	n/a	n/a
Gross profit	27.8	n/a	n/a	n/a
Gross margin	27.5%	n/a	n/a
Selling, general and administrative	12.5	n/a	n/a	n/a
Operating income	15.0	n/a	n/a	n/a
Operating margin	14.9%	n/a	n/a
Interest expense	0.9	n/a	n/a	n/a
Pre-tax income	14.1	n/a	n/a	n/a
Income tax	2.4	n/a	n/a	n/a
Effective tax rate	17.3%	n/a	n/a
Net income	11.7	n/a	n/a	n/a
Net margin	11.6%	n/a	n/a
Diluted EPS	$1.52	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	18.0	n/a	n/a	n/a
Capital expenditure	2.8	n/a	n/a	n/a
Free cash flow	15.2	n/a	n/a	n/a
Free cash flow margin	15.1%	n/a	n/a
Cash from investing	-2.8	n/a	n/a	n/a
Cash from financing	-14.0	n/a	n/a	n/a
Depreciation and amortisation	2.8	n/a	n/a	n/a
Share-based compensation	1.2	n/a	n/a	n/a
Diluted shares, weighted	8m	n/a	n/a	n/a
Shares outstanding at period end	8m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	272	n/a	n/a	n/a
Debt	43.0	n/a	n/a	n/a
Other liabilities	84.4	n/a	n/a	n/a
Total liabilities and equity	400	n/a	n/a	n/a
Fixed assets	60.7	n/a	n/a	n/a
Goodwill	113	n/a	n/a	n/a
Intangible assets	65.0	n/a	n/a	n/a
Cash and equivalents	6.4	n/a	n/a	n/a
Receivables	61.0	n/a	n/a	n/a
Inventory	69.8	n/a	n/a	n/a
Other assets	24.0	n/a	n/a	n/a
Total assets	400	n/a	n/a	n/a

Questions

What was UFP Technologies' revenue in Q3 FY2023?

UFP Technologies (UFPT) reported revenue of $101 million for Q3 FY2023, the quarter ended 30 September 2023, up 3.9% on the same quarter a year earlier.

How much did UFP Technologies earn in Q3 FY2023?

Net income for Q3 FY2023 was $12 million, down 40.2% on the year, and diluted earnings per share $1.52.

When did UFP Technologies report Q3 FY2023 results?

UFP Technologies filed its 10-K for the quarter ended 30 September 2023 with the SEC on 27 February 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	101	101	105	110	145	144	148	151	155	149	154	174
Cost of revenue	73.0	75.4	74.9	77.1	104	102	106	108	112	107	110	123
Gross profit	27.8	26.1	30.1	33.0	41.5	42.1	42.2	43.5	42.7	42.0	44.4	50.9
Gross margin	28%	26%	29%	30%	29%	29%	28%	29%	28%	28%	29%	29%
SG&A	12.5	13.1	13.9	13.9	15.8	18.6	18.7	18.7	19.1	21.0	21.0	22.8
Operating income	15.0	12.7	15.9	18.0	24.8	22.3	23.1	24.3	23.4	21.5	23.4	28.1
Operating margin	15%	13%	15%	16%	17%	15%	16%	16%	15%	14%	15%	16%
Interest expense	0.9	0.8	0.6	0.6	3.5	3.4	2.8	2.7	2.4	1.9	1.7	1.7
Pre-tax income	14.1	11.9	15.3	17.4	21.2	19.1	20.3	21.6	21.1	19.5	21.6	26.4
Tax rate	17%	2%	17%	22%	23%	14%	15%	21%	22%	10%	19%	21%
Net income	11.7	11.6	12.7	13.6	16.4	16.4	17.2	17.2	16.4	17.6	17.5	20.9
Net margin	12%	11%	12%	12%	11%	11%	12%	11%	11%	12%	11%	12%
Diluted EPS	$1.52	$1.51	$1.64	$1.75	$2.11	$2.10	$2.21	$2.21	$2.11	$2.25	$2.24	$2.68
Operating cash flow	18.0	12.7	10.7	11.7	19.8	24.4	13.8	25.3	35.9	16.8	3.2	15.6
Capital expenditure	2.8	2.8	1.7	2.8	2.1	3.0	2.8	2.9	n/a	n/a	n/a	n/a
Free cash flow	15.2	9.9	8.9	8.9	17.7	21.4	11.0	22.5	n/a	n/a	n/a	n/a
Shares outstanding	8m	8m	8m	8m	8m	8m	8m	8m	8m	8m	8m	8m
Filing	10-K	10-K	10-K	10-K	10-Q	10-K	10-K	10-K	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 September 2023, filed 27 February 2026, accession 0001628280-26-012816: the filing on EDGAR. All of UFP Technologies Inc.'s filings: EDGAR company page.

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