UFP Technologies Delivers Strong Q3 2026 Performance with Broad-Based Growth
UFP Technologies (UFP), a leading global supplier of innovative solutions for the MedTech industry, has reported strong third-quarter (Q3) 2026 performance, driven by solid execution across the company and steady progress on its long-term growth strategy.
The company's Q3 sales reached $172.4 million, representing an impressive 11.6% year-over-year increase, with organic growth standing at 11.1%. Gross margin expanded to 29.4%, while adjusted operating income grew 14.5%, and adjusted earnings per share (EPS) increased to $2.88.
"What stands out to me is how broad the growth is," said Mitch Rock, UFP's CEO. "MedTech sales were up 12.5% in the quarter, with demand across the portfolio." This broad-based growth demonstrates UFP's ability to deliver consistent performance without relying on a single customer, program, or end market.
One of UFP's top five customers recently recognized the company with a supplier award for creating value through innovation and cost savings. This achievement aligns with UFP's goal of aligning its growth with that of its customers and helping them scale while taking costs out.
In terms of operations, UFP continues to make progress, particularly in scaling new programs in the Dominican Republic and improving margins in its legacy operations at AJR. The company remains committed to completing transfers of activity to the Dominican Republic and delivering anticipated savings.
UFP is also investing ahead of growth in other areas of the business, including DAS Medical, where it is adding capacity to support anticipated double-digit growth. In August, UFP acquired CI Medical, a niche medical device printing business that expands its capabilities in plastics and injection molding.
"CI Medical serves device development and low-volume, high-mix applications," said Rock. "It's a strong fit with our growing plastics business." The acquisition of CI Medical is expected to add value across the UFP platform, particularly in medical injection molding, an area where UFP has already made significant investments.
Looking ahead, UFP remains committed to its growth strategy, which includes acquiring businesses that meet its strategic and valuation criteria. With a strong conservative balance sheet, a bigger team, and a decentralized operating model, the company believes it can bring on larger businesses while continuing to invest in organic growth."
