ab Global Research owered by UBS Evidence Lab YES P 23 June 2025 Semiconductors UBS Evidence Lab inside: Semis Distributor Tracker - more positive indicators UBS Enhanced Semis Distributor Tracker #9 Data from the ninth edition of our UBS Enhanced Semis Distributor Tracker (> Access dataset) provides further evidence of reassuring pricing trends and that inventory in the channel continues to head towards healthier levels. Pricing was flat to up LSD% across all subcategories, likely due to mix and the pocket ...

Core Viewpoint - Vishay Intertechnology, Inc. reported a first-quarter 2025 loss of 3 cents per share, which met the Zacks Consensus Estimate but was a decline from the previous year's earnings of 22 cents per share. Revenues of $715.2 million exceeded the Zacks Consensus Estimate by 0.74%, but represented a 4.2% year-over-year decline [1][2]. Financial Performance - The company's first-quarter adjusted EBITDA was $54.5 million, a decrease of 40.3% year over year, with an adjusted EBITDA margin contracting by 460 basis points to 7.6%. The operating margin fell to 0.1% from 5.7% in the year-ago quarter [6]. - Revenues from various segments showed mixed results: - MOSFETs generated $142.1 million, down 7.2% year over year [4]. - Diodes brought in $141 million, declining 5.4% year over year [4]. - Optoelectronics revenues increased by 4.1% to $51.2 million [4]. - Resistors fell 4.6% to $179.5 million [5]. - Inductors decreased by 5.2% to $84.1 million [5]. - Capacitors saw a slight decline of 0.4% to $117.4 million [5]. Stock Performance - The weak first-quarter performance led to a 9.8% drop in the company's share price, with a year-to-date decline of 28.4%, significantly underperforming the Zacks Computer and Technology sector's decline of 8.7% [2]. Guidance - For the second quarter, Vishay Intertechnology anticipates revenues of $760 million (plus or minus $20 million), with a Zacks Consensus Estimate of $738.4 million, indicating a year-over-year fall of 0.38%. The expected gross profit margin is 19.0% [9].

Vishay Intertechnology (VSH) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Company Participants Peter Henrici - EVP - Corporate DevelopmentJoel Smejkal - President & CEODavid McConnell - Executive VP & CFOPeter Peng - Equity Research Conference Call Participants Ruplu Bhattacharya - Analyst Operator Good day, and thank you for standing by. Welcome to the Vishay Intertechnology First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. After the speakers' prese ...

Vishay Intertechnology (VSH) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Company Participants Peter Henrici - EVP - Corporate DevelopmentJoel Smejkal - President & CEODavid McConnell - Executive VP & CFOPeter Peng - Equity Research Conference Call Participants Ruplu Bhattacharya - Analyst Operator Good day, and thank you for standing by. Welcome to the Vishay Intertechnology First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. After the speakers' prese ...

Vishay Intertechnology (VSH) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Speaker0 Good day, and thank you for standing by. Welcome to Speaker1 the Vishay Intertechnology First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising that your hand is rais ...

1Q 2025 Earnings Conference Call May 7, 2025 © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. NOTES ON FORWARD-LOOKING STATEMENTS Comments in this presentation other than statements of historical fact may constitute forward-looking statements. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectation ...

Financial Data and Key Metrics Changes - In Q1 2025, the company reported revenue of $132 million, which is at the high end of the guided range, and EPS of $0.18, also at the midpoint of guidance [15][26] - Gross margins for Q1 were 48.7%, down 450 basis points year-over-year, primarily due to a supply agreement impacting margins and unfavorable customer mix [27] - Cash from operations exceeded the high end of guidance, driven by higher than expected customer prepayments, with $1 million generated in Q1 [30][32] Business Line Data and Key Metrics Changes - Medtech and specialty audio revenue was $60 million in Q1, slightly up year-over-year but seasonally down from Q4 [16][26] - Precision Device segment revenue was $73 million, flat compared to Q4, with expectations for growth as production challenges are addressed [19][20] - The company anticipates year-over-year revenue growth accelerating in Q2, supported by a strong backlog in medtech and specialty audio [18][24] Market Data and Key Metrics Changes - The company estimates that less than 5% of revenue is subject to current tariffs, with less than 3% of cost of goods sold impacted [9][10] - Inventory levels at distributors are normalizing, leading to increased order activity, particularly in the industrial market [48][75] - The medtech market is expected to remain resilient, with historical data showing modest impacts during economic downturns [12][17] Company Strategy and Development Direction - The company is focused on maintaining growth in earnings and revenue despite tariff challenges, leveraging its proximity manufacturing strategy [7][8] - There is a strong emphasis on innovation and partnerships in the medtech sector, with expectations for continued growth in 2025 [18][24] - The company is exploring acquisition opportunities and plans to maintain a manageable debt level while generating robust cash flow [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current tariff environment with minimal impact on business [50] - The outlook for Q2 is positive, with expectations for revenue between $135 million and $145 million and EPS projected between $0.21 and $0.25 [33][34] - Management noted strong design wins and increasing backlog, indicating a solid foundation for growth in 2025 [24][78] Other Important Information - The company repurchased $5 million in shares and reduced debt by $15 million during Q1 [22][31] - The upcoming Investor Day on May 13 will provide further insights into future growth plans and competitive advantages [24][85] Q&A Session Summary Question: How is the company addressing customer exposure in uncertain times? - Management indicated that there has been no change in demand, with expectations for Q2 being higher than previously anticipated [42][44] Question: Any updates on the $75 million capacitor order for the energy market? - The company received a substantial prepayment for this order, indicating strong customer commitment and no expected delivery impacts [51][52] Question: What is the expected trajectory for gross margins in Q2 and Q4? - Management expects significant sequential improvement in gross margins, driven by increased capacity utilization and better customer mix [60][64] Question: Is there potential for gaining market share from competitors? - Management noted an increase in inquiries from customers looking for reliable supply sources, particularly in the industrial space [66][69] Question: Can you comment on bookings and receivables? - Bookings were strong, with a book-to-bill ratio above 1.15, and receivables were up due to timing of customer collections, not indicating any collection issues [73][79]

Knowles (KN) Q1 2025 Earnings Call April 24, 2025 04:30 PM ET Company Participants Sarah Cook - Vice President, Investor RelationsJeffrey Niew - President and Chief Executive OfficerJohn Anderson - SVP & CFOBob Labick - President Conference Call Participants Anthony Stoss - AnalystChristopher Rolland - Senior Equity Analyst Operator Well, good day, everyone, and welcome to the Q1 twenty twenty five Knowles Corporation Earnings Call. This call is being recorded. At this time, I would like to hand things over ...

Financial Data and Key Metrics Changes - The company reported Q1 2025 revenue of $132 million, at the high end of the guided range, with EPS of $0.18, also at the midpoint of guidance [11][19] - Gross margins for the MedTech and Specialty Audio segment were 48.7%, down 450 basis points year-over-year, primarily due to a supply agreement impacting margins [19] - Precision Devices segment revenues were $73 million, flat compared to Q4, with gross margins at 35.7%, unchanged from the previous year [13][20] Business Line Data and Key Metrics Changes - MedTech and Specialty Audio revenue was $60 million, slightly up year-over-year but seasonally down from Q4 [11][19] - Precision Devices segment saw a flat revenue performance, with production challenges in the specialty film line being addressed [13][20] - The company expects year-over-year revenue growth to accelerate in Q2 2025, driven by strong demand in MedTech and Specialty Audio [12][17] Market Data and Key Metrics Changes - The company estimates that less than 5% of revenue is subject to current tariffs, with less than 3% of cost of goods sold impacted [7][8] - Inventory levels at distributors have normalized to 3-3.5 months, indicating increased order activity [34][52] - The company is seeing strong bookings trends across most end markets, particularly in Precision Devices [15][52] Company Strategy and Development Direction - The company is focused on growth in 2025, with strong design wins and increasing backlog across its product portfolio [17] - There is an emphasis on exploring acquisition opportunities while maintaining manageable debt levels [16][22] - The upcoming Investor Day will detail future growth plans and competitive advantages [17][60] Management's Comments on Operating Environment and Future Outlook - Management remains cautious about the tariff environment but believes the company is well-positioned for growth despite potential impacts [5][10] - The outlook for the MedTech and defense sectors remains strong, with essential devices expected to maintain demand [32][33] - Management anticipates a stronger second half of 2025, driven by improved capacity utilization and demand recovery [41][42] Other Important Information - The company repurchased $5 million in shares and reduced debt by $15 million in Q1 2025 [16][22] - Capital spending is projected to be $7 million in Q2, with full-year capital spending expected to be 5% of revenues [24] Q&A Session Summary Question: Overall end market customer exposure and outlook - Management indicated no change in demand and higher expectations for Q2, particularly in essential devices like pacemakers and hearing aids [31][32] Question: Updates on the $75 million capacitor order - A substantial prepayment was received, indicating strong customer commitment with no expected delivery impacts [37] Question: Gross margin trajectory for Q2 and Q4 - Management expects significant sequential improvement in gross margins, projecting an exit range of 45% to 47% by year-end [40][44] Question: Potential for gaining market share from competitors - Management noted increased inquiries from customers considering switching suppliers due to tariff impacts, particularly in the industrial space [46][47] Question: Commentary on bookings and receivables - Bookings were strong, with inventory levels at distributors decreasing, indicating rising demand [52][56]