Core Viewpoint - Vishay Precision Group, Inc. reported a decline in revenues and profitability for the third fiscal quarter of 2024, with mixed market trends impacting performance across different segments [1][2]. Financial Performance - Revenues for the third fiscal quarter were $75.7 million, a decrease of 11.8% year-over-year [1]. - Gross profit margin was 40.0%, down from 41.9% in the same quarter last year [1]. - Adjusted gross profit margin also decreased to 40.0% from 42.1% [1]. - Operating margin fell to 5.1% compared to 9.6% a year ago [1]. - The company reported a diluted net loss per share of $(0.10), compared to earnings of $0.46 per share in the previous year [1][3]. - Adjusted diluted net earnings per share were $0.19, down from $0.47 [1][4]. Segment Performance - The Sensors segment generated $28.2 million in revenue, a decrease of 13.3% year-over-year [6]. - The Weighing Solutions segment reported $25.2 million in revenue, down 13.1% compared to the previous year [8]. - The Measurement Systems segment had revenues of $22.4 million, an 8.2% decrease year-over-year [10]. - Gross profit margin for the Sensors segment was 31.0%, down from 35.9% a year ago [7]. - The Weighing Solutions segment's gross profit margin was 35.1%, down from 38.7% [9]. - The Measurement Systems segment saw an increase in gross profit margin to 56.8%, up from 53.6% [11]. Orders and Market Trends - Total orders for the third quarter were $68.6 million, a decline of 6.7% sequentially, resulting in a book-to-bill ratio of 0.91 [2]. - Mixed market trends were noted, with softness in cyclical markets like steel and consumer, while orders in test and measurement and avionics, military & space were higher [2]. Outlook - The company expects net revenues for the fourth fiscal quarter of 2024 to be in the range of $70 million to $78 million, assuming constant foreign currency exchange rates [12].

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value ...

MALVERN, Pa., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, will release its financial results for the third quarter of fiscal 2024 before the opening of the market on Tuesday, November 5, 2024. Ziv Shoshani, chief executive officer, and Bill Clancy, chief financial officer, will host a conference call that day (Tuesday, November 5, 2024) at 9:00 a.m. U.S. eastern time. To access the conference call, interested parties ...

MALVERN, Pa., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, announced that the company will present at the Sidoti September 2024 Small-Cap Investor Virtual Conference on Thursday, September 19, 2024 at 10:45 a.m. ET. A live and on-demand webcast of VPG's presentation will be available to the public and can be accessed from the following link: https://sidoti.zoom.us/webinar/VPG, or on VPG's website: ir.vpgsensors.com/e ...

Core Insights - Vishay Precision Group, Inc. has appointed Erez Lorber as an independent member of its Board of Directors, effective immediately [1][2] Group 1: Appointment Details - Erez Lorber brings extensive technology expertise and a successful track record as an entrepreneur and senior executive [2] - Lorber's previous roles include CEO of Questar Auto Technologies and chief operating officer at Storedot, focusing on AI technology and fast-charging EV batteries [2] - He holds an undergraduate degree from Temple University and an MBA from Tel Aviv University [3] Group 2: Company Overview - Vishay Precision Group is a leader in precision measurement and sensing technologies, enhancing product performance across various markets [4]

Financial Data and Key Metrics Changes - The company reported Q2 2024 revenues of $77.4 million, which is 14.8% lower year-over-year and 4.2% lower sequentially [4] - Orders softened to $73.5 million from $75.3 million in Q1 2024, with a book-to-bill ratio of 0.95 [4] - Gross margin decreased to 41.9% from a record 43.4% in Q1 2024, reflecting lower sales [5][12] - Adjusted EBITDA was $10.2 million, representing 13.2% of revenue, down from $12.3 million or 15.3% in Q1 2024 [12] Business Segment Performance - **Sensors Segment**: Q2 revenue was $28.9 million, down 20.4% year-over-year and 1.9% sequentially. Advanced sensors grew 17% from Q1, while precision resistors saw lower sales, particularly in Asia [6][7] - **Weighing Solutions Segment**: Q2 sales were $27.4 million, down 12.2% year-over-year and 4.8% sequentially, primarily due to lower revenue in the transportation market [8] - **Measurement Systems Segment**: Q2 revenue was $21 million, down 9.6% year-over-year and 6.6% sequentially, with a book-to-bill ratio of 1.04 as orders improved 3.8% from Q1 [9] Market Data and Key Metrics Changes - Mixed trends were observed across markets, with growth in consumer-related applications and transportation, while test and measurement, avionic military, and industrial weighing saw lower orders [5] - The company expects the macro environment to remain stable through the end of 2024, with ongoing mixed trends in its markets [4] Company Strategy and Industry Competition - The company is focusing on strategic business development initiatives, particularly in advanced sensors for high-end bikes and medical robotics [7][22] - The capital allocation strategy includes organic growth, successful M&A, and stock repurchases, with $3.1 million of stock repurchased during the quarter [11] Management's Comments on Operating Environment and Future Outlook - Management anticipates an initial recovery in the second half of 2024, with a more optimistic outlook for 2025 based on discussions with large OEMs [18][26] - The company is excited about business development initiatives and the potential for significant revenue from new projects [22][29] Other Important Information - The company ended Q2 with $84.1 million in cash and cash equivalents and total debt of $31.9 million [14] - Adjusted free cash flow increased to $4.9 million from $4.2 million in Q1 2024 [12] Q&A Session Summary Question: Viability of revenue growth and margin expansion targets - Management believes the three to five-year plan remains viable despite market downturns, with expectations for recovery starting in 2025 [17][18] Question: M&A process progress - Management is optimistic about the M&A landscape improving, although no deals have been executed yet [19] Question: Trends in gross margin and SG&A - Management expects gross margin to remain sustainable and SG&A to be slightly higher in Q3 [20][21] Question: Future business opportunities - Management is excited about business development initiatives across various segments, including advanced sensors and medical robotics [22][29] Question: Revenue profile and weaker business segments - Management noted that expectations for recovery in certain markets have been pushed to 2025, particularly in precision agriculture and semiconductor test and measurement [25][26] Question: Impact of interest rates on end markets - Management confirmed that lower interest rates would positively influence capital-intensive markets like construction and precision agriculture [27] Question: Indicators of market recovery - Management expects the test and measurement segment to show initial signs of recovery by the end of the year [30][31]

Financial Performance - Net revenues for 2Q24 were $77.4 million, a 14.8% decrease year-over-year and a 4.2% decrease sequentially[8, 16] - Adjusted gross margin for 2Q24 was 41.9%, down from 42.7% year-over-year and 43.4% in 1Q24[9, 10, 16] - Adjusted net earnings per diluted share for 2Q24 were $0.31, compared to $0.42 in 1Q24[12, 16] - Adjusted EBITDA for 2Q24 was $10.2 million[13, 16] - End-of-period backlog was $104.9 million[15] Segment Performance - Sensors' 2Q24 revenues decreased 1.9% sequentially[19, 24] - Sensors' gross margin of 38.3% in 2Q24 increased from 36.5% sequentially[22, 24] - Weighing Solutions' 2Q24 revenues decreased 4.8% sequentially and 12.2% year-over-year[26, 31] - Weighing Solutions' gross margin was 37.6%, a decrease from 39.1%[29, 31] - Measurement Systems' 2Q24 revenues were $21.0 million, a 6.6% sequential decrease[33, 39] - Measurement Systems' gross margin was 52.4%, down from 58.1% sequentially[36, 39] Capital Allocation - The company repurchased 3.1 million of stock in 2Q24[42] - Since August 2022, the company has repurchased $14.5 million of common stock[42]

Vishay Precision (VPG) came out with quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.12%. A quarter ago, it was expected that this precision sensors and systems producer would post earnings of $0.32 per share when it actually produced earnings of $0.42, delivering a surprise of 31.25%. Over the ...

Core Viewpoint - Vishay Precision Group, Inc. reported a decline in revenues and profitability for the second fiscal quarter of 2024, reflecting mixed market trends and cautious ordering from distributor customers [2][3]. Financial Performance - Revenues for the second fiscal quarter were $77.4 million, a decrease of 14.8% year-over-year [2]. - Gross profit margin was 41.9%, down from 42.6% a year ago [2]. - Operating margin fell to 7.6% from 13.0% reported in the same quarter last year [2]. - Diluted net earnings per share were $0.34, compared to $0.60 a year ago [2][4]. - Adjusted net earnings for the second quarter were $4.2 million, or $0.31 per adjusted diluted share, down from $8.0 million, or $0.58 per adjusted diluted share in the prior year [5]. Segment Performance - The Sensors segment reported revenue of $28.9 million, a decrease of 20.4% year-over-year [7]. - The Weighing Solutions segment revenue was $27.4 million, down 12.2% compared to the previous year [9]. - The Measurement Systems segment revenue decreased by 9.6% year-over-year to $21.0 million [11]. - Gross profit margin for the Sensors segment was 38.3%, down from 40.1% a year ago [8]. - The Weighing Solutions segment's gross profit margin was 37.6%, a decrease from 38.7% in the previous year [10]. - The Measurement Systems segment had a gross profit margin of 52.4%, slightly up from 51.8% a year ago [12]. Cash Flow and Outlook - Cash from operating activities was $7.5 million, with adjusted free cash flow of $4.9 million [2]. - The company expects net revenues for the third fiscal quarter of 2024 to be in the range of $70 million to $78 million [13].

Financial Data and Key Metrics Changes - The company reported Q1 2024 revenues of $80.8 million, a decline of 9.1% year-over-year and 9.8% sequentially from Q4 2023 [15][28] - Gross margin reached a record high of 43.4%, up from 43.0% in the previous quarter, driven by improved manufacturing efficiency and cost reductions [28] - Adjusted EBITDA was $12.3 million, representing a margin of 15.3%, down from 18.5% in Q4 2023 [33] Business Line Data and Key Metrics Changes - **Sensors Segment**: Revenue of $29.4 million, down 19.9% year-over-year and 14.1% sequentially, with orders at $26.7 million, an 8.9% decrease [18][19] - **Weighing Solutions Segment**: Sales of $28.8 million, a decline of 9.5% year-over-year and 5.2% sequentially, with orders flat at $27.5 million [21][22] - **Measurement Systems Segment**: Revenue of $22.5 million, an increase of 11.1% year-over-year but a decrease of 9.3% sequentially, with orders of $21.1 million, up 16.4% from Q4 2023 [23][24] Market Data and Key Metrics Changes - Orders in avionics, military and space, transportation, and consumer applications showed sequential growth, while industrial weighing and test measurement markets experienced weaker bookings [16][17] - The company noted that some customers are working down their inventory levels, impacting demand recovery expectations [17] Company Strategy and Development Direction - The company is focusing on both organic and inorganic growth initiatives to target larger, faster-growing markets, particularly in electrification, industrial automation, and defense technologies [7][8] - Investments in operational capabilities and efficiencies are aimed at addressing higher volume opportunities and achieving new levels of profitability [13][14] Management's Comments on Operating Environment and Future Outlook - Management indicated that the expected recovery in demand has been pushed to the latter part of the year due to current macroeconomic conditions [17] - The company anticipates net revenue for Q2 2024 to be in the range of $75 million to $85 million, reflecting current market conditions and backlog [36] Other Important Information - The company repurchased $2.8 million of stock in Q1 2024, continuing its stock repurchase program initiated in August 2022 [25][26] - A restructuring charge of $782,000 was recorded in Q1, related to severance and headcount reductions in the Sensors segment [32] Q&A Session Summary Question: Expectations for growth investments and OpEx projections - Management acknowledged being slightly behind on hiring for business development and engineering but expects to meet growth targets [38][39] Question: Sustainability of gross margin expectations - Management confirmed that the target of a 45% gross margin remains viable and is currently ahead of plan [40][41] Question: Details on the measurement systems segment and eVTOL customer - The eVTOL sector is a new market for the company, with expectations of at least 20% year-over-year growth as they work with key customers [42][43] Question: Order trends in avionics, military, and space segments - Management noted that while there is a current trough in revenue, they expect large orders to be placed in the second half of the year as funding is released [44][47]