Vishay Precision Group(US:VPG)2025-11-04 11:30Financial Performance - Third-quarter sales increased by 5.3% year-over-year to $79.7 million, with a sequential growth of 6.1%[2] - Net earnings attributable to VPG stockholders for the third quarter were $7.8 million, or $0.59 per diluted share, compared to a net loss of $1.4 million, or $0.10 per diluted share, in the same quarter last year[5] - Adjusted EBITDA for the third quarter was $9.2 million, with an adjusted EBITDA margin of 11.5%[8] - Net earnings attributable to VPG stockholders decreased to $7,164, down 21.6% from $9,143 in the same period last year[26] - Basic earnings per share attributable to VPG stockholders were $0.54, a decrease of 20.6% from $0.68 in the prior year[26] - For the three months ended September 27, 2025, VPG reported a net earnings attributable to stockholders of $7,858,000, compared to a loss of $1,351,000 for the same period in 2024[30] - The diluted earnings per share for the quarter was $0.59, compared to a loss of $0.10 per share in the same quarter last year[30] Segment Performance - The Sensors segment revenue grew by 12.1% year-over-year to $31.6 million, driven by higher sales of precision resistors and strain gages[10] - The Weighing Solutions segment revenue increased by 9.4% year-over-year to $27.5 million, primarily due to higher sales in the Transportation market[12] - The Measurement Systems segment revenue decreased by 8.0% year-over-year to $20.6 million, attributed to lower sales in the AMS market[14] - Net revenues for the Sensors segment increased to $31,624,000, up from $28,201,000 in the same quarter last year, reflecting a growth of 8.6%[31] - The Weighing Solutions segment reported net revenues of $27,538,000, an increase from $25,175,000, representing a growth of 9.3% year-over-year[31] - The Measurement Systems segment experienced a decline in net revenues to $20,566,000 from $22,352,000, a decrease of 8.0% compared to the previous year[31] Cash Flow and Assets - The company reported a net cash position of $66 million, supporting its growth strategy[2] - Adjusted free cash flow for the third quarter was $7.4 million[8] - Total current assets increased to $252,338, up 6.4% from $236,949 as of December 31, 2024[27] - Cash and cash equivalents rose to $86,253, an increase of 8.3% from $79,272 at the end of 2024[27] - Net cash provided by operating activities was $9,954, a decrease of 23.9% from $13,039 in the prior year[29] - Capital expenditures for the nine months were $4,953, down 29% from $6,965 in the same period last year[29] Operational Changes - The company appointed two new executives to C-Suite positions to enhance operational excellence and accelerate growth[3] - The company incurred restructuring costs of $214,000 in the latest quarter, compared to $82,000 in the same quarter last year[32] - Start-up costs for the quarter were $37,000, compared to no start-up costs in the same period last year[32] Profitability Metrics - Gross profit decreased to $89,764, down 8.1% from $97,761 in the prior year[26] - Operating income fell to $12,807, representing a decline of 23.1% compared to $16,665 in the previous year[26] - The gross profit margin for the same quarter was 40.3%, slightly up from 40.0% in the previous year[30] - Adjusted EBITDA for the quarter was $9,152,000, with an adjusted EBITDA margin of 11.5%, compared to 10.7% in the prior year[32] - The adjusted gross profit margin for the Sensors segment was 33.7%, up from 31.0% in the previous year[31] Future Outlook - The company expects fourth-quarter net revenues to be in the range of $75 million to $81 million, based on current market conditions and backlog[16]