MALVERN, Pa., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today announced the release of its new TS7 series of single-turn, surface-mount cermet trimmers. The TS7 trimmers feature a compact 6.7 mm x 7 mm footprint with a height of 5 mm, making them ideal for applications requiring optimized board space in harsh environments. The TS7 series is designed to support automated assembly and setting processes, enhancing production efficiency while reducing both time and costs. Fully ...

Vishay Intertechnology (VSH) reported third-quarter 2024 adjusted earnings of 8 cents per share, missing the Zacks Consensus Estimate by 46.7%. The figure declined 86.7% year over year.Excepting the latest miss, VSH’s earnings beat the Zacks Consensus Estimate in the remaining three of the trailing four quarters, with an average negative surprise being 3.12%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.VSH’s third-quarter revenues of $735.4 million missed the consensus mark by 1.49 ...

MALVERN, Pa., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today announced that at electronica 2024, the company will be exhibiting its broad portfolio of passive and semiconductor solutions, and discussing their pivotal role in shaping a sustainable future through the all-electric society. Vishay experts will be on hand to dive into cutting-edge developments in automation, AI, e-mobility, and smart and alternative energy technologies. In hall C4, booth 478, Vishay will be show ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $735.4 million, flat compared to Q2 2024, reflecting a prolonged period of inventory destocking and slow consumption by industrial customers [9][22] - Compared to Q3 2023, revenues decreased by 13.9%, primarily due to a volume decrease and a reduction in average selling prices (ASPs) [22] - Gross profit was $150.9 million, resulting in a gross margin of 20.5%, which was 150 basis points lower than Q2 2024 [24] - GAAP loss per share was $0.14 compared to earnings of $0.17 per share in Q2 2024 and $0.47 per share in Q3 2023 [26] Business Line Data and Key Metrics Changes - Automotive revenue increased by 4.3% compared to Q2 2024, driven by demand for EVs in China, despite sluggish demand in Europe and the Americas [12] - Industrial end-markets saw a revenue decrease of $18.5 million from Q2 2024, with distributors adjusting inventory due to weak demand [13] - Aerospace and Defense revenue was flat compared to Q2 2024 but up 20.2% year-over-year, supported by strong demand from OEMs in the Americas [14] - Medical revenue declined by 6.2% quarter-over-quarter but was 7.4% higher than Q3 2023, primarily due to delays in orders [15] - Revenue from telecom, computing, and consumer segments increased by 3.2% quarter-over-quarter but decreased by 32% year-over-year, with rising demand for AI servers noted [16] Market Data and Key Metrics Changes - Revenue in Europe declined by 3.3% due to a weakening macroeconomic environment and seasonal impacts [19] - Revenue in the Americas decreased slightly, while revenue in Asia increased by 2.1% due to a pickup in automotive volume and AI-related demand [19] Company Strategy and Development Direction - The company is implementing "Vishay 3.0" to prepare for the next industry upcycle, focusing on customer-first initiatives and expanding capacity and product portfolio [10][11] - The acquisition of Birkelbach was announced to secure supply for smart grid infrastructure projects [14] - The company plans to invest $2.6 billion in CapEx from 2023 to 2028, with $360 million to $390 million expected in 2024 [37] Management's Comments on Operating Environment and Future Outlook - Management noted that the electronics industry is in a down-cycle, but the company is making adjustments to manage costs and prepare for future demand [9][10] - There is optimism regarding growth in smart grid infrastructure and AI-related applications, with significant orders expected in these areas [54] - Management expressed confidence in achieving 2028 financial targets despite current challenges [49] Other Important Information - Restructuring charges of $40.6 million were recorded to optimize manufacturing and streamline decision-making, with expected annual cost savings of $23 million once fully implemented [25][34] - The company generated $51 million in operating cash for Q3 2024, with total CapEx for the quarter at $60 million [29] Q&A Session Summary Question: What is the current inventory situation at distribution? - Management indicated that passive inventory is nearing normalization, while semiconductor inventory will take more time to normalize due to competitors' overstocking [51] Question: What areas of growth are expected for 2025? - Growth is anticipated in smart grid infrastructure, AI applications, military, aerospace, and automotive sectors, with positive signs in space exploration [55] Question: How is the pricing environment currently? - The pricing environment remains stable, with opportunities for aggressive pricing in high-volume situations, but no significant changes expected in ASPs [57] Question: How will cash be prioritized in the next 12 months? - The focus will be on the strategic plan and ensuring capital is available for Newport expansion, while continuing to return $100 million to shareholders [59]

Lowering Switching Losses, Devices Combine Low Qrr Down to 105 nC With VF of 1.10 V While Reducing Parasitic Capacitance and Recovery Time MALVERN, Pa., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today expanded its Gen 7 platform of 1200 V FRED Pt® Hyperfast rectifiers with four new Automotive Grade devices in the eSMP® series SMF (DO-219AB) package. Optimized for industrial and automotive applications, the 1 A and 2 A rectifiers not only offer the best trade-off between reve ...

Vishay Intertechnology (VSH) came out with quarterly earnings of $0.08 per share, missing the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -46.67%. A quarter ago, it was expected that this chipmaker would post earnings of $0.14 per share when it actually produced earnings of $0.17, delivering a surprise of 21.43%.Over the last four quarters, the ...

Revenue and Gross Margin - 3Q 2024 revenues of $735.4 million with a gross margin of 20.5%, negatively impacted by approximately 150 basis points due to the addition of Newport[2] - 4Q 2024 revenue guidance of $720 million +/- $20 million, with gross profit margin expected to be 20.0% +/- 50 basis points, including a negative impact of approximately 175 to 200 basis points from Newport[3] - Net revenues for 3Q 2024 were $735.4 million, compared to $741.2 million in 2Q 2024 and $853.7 million in 3Q 2023[9] - Gross profit for 3Q 2024 was $150.9 million, down from $162.9 million in 2Q 2024 and $237.6 million in 3Q 2023[9] - For the nine fiscal months ended September 28, 2024, net revenues were $2.22 billion, down from $2.62 billion in the same period of 2023[10] Earnings and Losses - GAAP loss per share of ($0.14) and adjusted EPS of $0.08 per share for 3Q 2024[2] - Operating loss for 3Q 2024 was ($18.3 million), compared to an operating income of $37.9 million in 2Q 2024 and $115.1 million in 3Q 2023[9] - Net loss attributable to Vishay stockholders for 3Q 2024 was ($19.3 million), compared to a net income of $23.5 million in 2Q 2024 and $65.5 million in 3Q 2023[9] - GAAP net earnings attributable to Vishay stockholders for the nine fiscal months ended September 28, 2024, were $35.2 million, compared to $272.3 million in the same period of 2023, a decline of 87.1%[14] - Adjusted net earnings for the nine fiscal months ended September 28, 2024, were $65.5 million, compared to $290.7 million in the same period of 2023, a decrease of 77.5%[14] - GAAP net earnings attributable to Vishay stockholders for Q3 2024 were $(19.3 million), compared to $23.5 million in Q2 2024 and $65.5 million in Q3 2023[16] Book-to-Bill Ratio and Backlog - 3Q 2024 book-to-bill ratio of 0.88, with 0.79 for semiconductors and 0.97 for passive components[2] - Backlog at the end of 3Q 2024 was 4.4 months[2] Cash Flow and Capital Expenditures - Cash and cash equivalents decreased from $972.7 million in December 2023 to $643.8 million in September 2024, a decline of 33.8%[11] - Net cash provided by operating activities for the nine fiscal months ended September 28, 2024, was $106.0 million, compared to $359.4 million in the same period of 2023, a decrease of 70.5%[13] - Capital expenditures for the nine fiscal months ended September 28, 2024, were $175.2 million, a slight decrease from $184.1 million in the same period of 2023[13] - Free cash for the nine fiscal months ended September 28, 2024, was -$67.7 million, compared to $176.4 million in the same period of 2023[15] Inventory and Assets - Total inventories increased from $647.5 million in December 2023 to $687.2 million in September 2024, a growth of 6.1%[11] - Total assets remained relatively stable, decreasing slightly from $4,239.9 million in December 2023 to $4,220.4 million in September 2024[11] Debt and Equity - Long-term debt less current portion increased marginally from $818.2 million in December 2023 to $820.8 million in September 2024[12] - Total Vishay stockholders' equity decreased from $2,196.1 million in December 2023 to $2,167.7 million in September 2024, a decline of 1.3%[12] Adjusted EBITDA and Margins - Adjusted EBITDA for Q3 2024 was $71.5 million, compared to $88.4 million in Q2 2024 and $159.6 million in Q3 2023[16] - Adjusted EBITDA margin for Q3 2024 was 9.7%, compared to 11.9% in Q2 2024 and 18.7% in Q3 2023[16] Restructuring and Other Costs - Restructuring and severance costs in Q3 2024 were $40.6 million, compared to $0 in Q2 2024 and Q3 2023[16] - Depreciation and amortization for Q3 2024 was $53.6 million, compared to $52.2 million in Q2 2024 and $46.2 million in Q3 2023[16] - Interest expense for Q3 2024 was $6.6 million, compared to $6.7 million in Q2 2024 and $7.2 million in Q3 2023[16] - Interest income for Q3 2024 was $(5.2 million), compared to $(6.7 million) in Q2 2024 and $(9.2 million) in Q3 2023[16] - Income taxes for Q3 2024 were $(5.1 million), compared to $12.4 million in Q2 2024 and $30.6 million in Q3 2023[16] - Net earnings attributable to noncontrolling interests for Q3 2024 were $0.3 million, compared to $0.3 million in Q2 2024 and $0.4 million in Q3 2023[16] - Loss on early extinguishment of debt in Q3 2023 was $18.9 million, compared to $0 in Q3 2024 and Q2 2024[16]

MALVERN, Pa., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced results for the fiscal third quarter ended September 28, 2024. Highlights 3Q 2024 revenues of $735.4 millionGross margin was 20.5% and included the negative impact of approximately 150 basis points related to the addition of NewportGAAP loss per share of ($0.14); adjusted EPS of $0.08 per share3Q 2024 ...

MALVERN, Pa., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced two new IGBT and MOSFET drivers in the compact, high isolation stretched SO-6 package. Delivering high peak output currents of 3 A and 4 A, respectively, the Vishay Semiconductors VOFD341A and VOFD343A offer high operating temperatures to +125 °C and low propagation delay of 200 ns maximum. Consisting of an AlGaAs LED optically coupled to an integrated circuit with a power output stage, the optocouplers ...

MALVERN, Pa., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced the industry's first 1 Form A solid-state relay to offer AEC-Q102 qualification and a 100 V load voltage. Offered in the low profile SOP-4 package, the Vishay Semiconductors VORA1010M4 delivers the industry's fastest turn-on and turn-off times of 0.1 ms typical, in addition to the highest operating temperature to +125 °C. The fast turn-off time of the optically isolated device released today is a result ...