UFP Technologies Inc (UFPT) saw its stock soar 6.04% in intraday trading on Tuesday, following the release of its impressive fourth-quarter and full-year 2024 financial results. The company's strong performance and optimistic outlook for future growth fueled investor confidence, driving the stock's significant surge.

In the fourth quarter of 2024, UFP Technologies reported adjusted earnings per share (EPS) of $2.46, surpassing analyst estimates of $1.98. The company also posted net sales of $144.1 million, beating expectations of $141.67 million, representing a remarkable 41.9% year-over-year increase.

For the full year 2024, UFP Technologies recorded net sales of $504.4 million, a 26.1% increase compared to 2023. The company's adjusted net income grew an impressive 32.5% year-over-year, reaching $67.6 million. These strong financial results were driven by a combination of strategic acquisitions, organic growth, and robust demand for the company's medical technology products.

Looking ahead, UFP Technologies expressed optimism about its future prospects, highlighting a robust pipeline of new business opportunities and two major programs scheduled for launch in the second half of 2025. The company's focus on expanding its operations, particularly in the Dominican Republic, positions it well to meet the growing demand for its products and services.