Universal Display Corp. (OLED) came out with quarterly earnings of $1.10 per share, missing the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.51%. A quarter ago, it was expected that this organic light-emitting diode technology company would post earnings of $1.05 per share when it actually produced earnings of $1.19, delivering a surprise of ...

Revenue Performance - Total revenue for the three months ended June 30, 2024, was $158.5 million, an increase of 8.1% from $146.6 million in the same period of 2023[146]. - Total revenue for the six months ended June 30, 2024, was $323.8 million, an increase of 17% from $277.0 million for the same period in 2023[158]. - Material sales increased by 24% to $95.4 million for the three months ended June 30, 2024, compared to $77.1 million in the same period of 2023, with unit material volume increasing by 23%[147]. - Material sales reached $188.7 million for the six months ended June 30, 2024, up 28% from $147.3 million in the prior year, with a 30% increase in unit material volume[159]. - Revenue from royalty and license fees decreased by 8% to $59.6 million for the three months ended June 30, 2024, down from $64.4 million in the same period of 2023[148]. - Royalty and license fees increased by 7% to $127.8 million for the six months ended June 30, 2024, compared to $119.6 million for the same period in 2023[160]. Expenses and Income - Research and development expenses increased to $36.8 million for the three months ended June 30, 2024, compared to $32.3 million in the same period of 2023, primarily due to higher operating costs[151]. - Research and development expenses rose to $74.8 million for the six months ended June 30, 2024, from $63.7 million in the same period in 2023, marking a 17% increase[163]. - Selling, general and administrative expenses increased to $39.1 million for the six months ended June 30, 2024, compared to $32.5 million for the same period in 2023, reflecting a rise of 20%[164]. - Operating income for the three months ended June 30, 2024, was $56.4 million, a decrease from $58.6 million in the same period of 2023[146]. - Net income for the three months ended June 30, 2024, was $52.3 million, compared to $49.7 million in the same period of 2023, reflecting an increase of 5.4%[146]. Margins and Financial Ratios - Gross margin for the three months ended June 30, 2024, was $120.2 million, with a gross margin percentage of 76%, down from 78% in the same period of 2023[150]. - Gross margin for the six months ended June 30, 2024, increased to 77% from 76% in the prior year, driven by higher revenue from material sales and royalty and license fees[162]. - The effective income tax rate decreased to 19.3% for the six months ended June 30, 2024, from 22.6% in the same period in 2023, with income tax expense recorded at $26.2 million for both periods[169]. Cash Flow and Liquidity - Cash provided by operating activities for the six months ended June 30, 2024, was $139.2 million, significantly higher than $57.4 million for the same period in 2023[171]. - As of June 30, 2024, the company had total liquidity of $879.0 million, up from $799.6 million as of December 31, 2023[170]. - Interest income, net was $19.5 million for the six months ended June 30, 2024, compared to $13.2 million for the same period in 2023, reflecting a 48% increase[168]. Manufacturing and Operational Insights - The new manufacturing site in Shannon, Ireland, is expected to double production capacity and diversify the manufacturing base for phosphorescent emitters[145]. - The company anticipates fluctuations in annual and quarterly results due to various factors, including sales timing and customer demand[145]. Risk Management - The company prepares its Consolidated Financial Statements in accordance with U.S. generally accepted accounting principles, which involve critical accounting policies related to revenue recognition, deferred revenue, inventories, and income taxes[177]. - As of June 30, 2024, the company had no off-balance sheet arrangements that could expose it to credit, liquidity, or market risk[180]. - The company does not utilize financial instruments for trading purposes and holds no derivative financial instruments that could expose it to significant market risk, primarily facing interest rate changes[181]. - Substantially all of the company's revenue is derived from outside of North America, primarily denominated in U.S. dollars, mitigating significant foreign exchange risk[182].

Over the last 30 days, there has been an upward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. The consensus estimate for 'Revenues- ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Universal Display Corp. (OLED) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate pric ...

After reaching an important support level, Universal Display Corporation (OLED) could be a good stock pick from a technical perspective. OLED recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average. Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover in ...

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. Universal Display is part of the Zacks Electronics - Miscellaneous Components industry. nVent Electric (NVT) , another stock in the same industry, closed the last trading session 0.2% higher at $78.38. NVT has returned -2.9% in the past month. For nVent, the consensus EP ...

Have you evaluated the performance of Universal Display Corp.'s (OLED) international operations during the quarter that concluded in March 2024? Considering the extensive worldwide presence of this organic light-emitting diode technology company, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from ____________ to ___________ Commission File Number 1-12031 UNIVERSAL DISPLAY CORPORATION (Exact name of registrant as specified in its charter) | Pennsylvania ...

Exhibit 99.1 Press Release Universal Display Contact: Darice Liu investor@oled.com media@oled.com +1 609-964-5123 Universal Display Corporation Announces First Quarter 2024 Financial Results EWING, N.J. – May 2, 2024 – Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today reported financial results for the first quarter ended March 31, 2024. "We began the year on a strong note with solid first quarter results a ...

Wall Street analysts forecast that Universal Display Corp. (OLED) will report quarterly earnings of $1.05 per share in its upcoming release, pointing to a year-over-year increase of 26.5%. It is anticipated that revenues will amount to $146.18 million, exhibiting an increase of 12% compared to the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised thei ...