Vishay Intertechnology Inc Reports Q2 2024 Financial Results
Intellectia.AI Updated: 2024-08-08
Vishay Intertechnology, Inc. Reports Q2 2024 Financial Results
Vishay Intertechnology, Inc. has reported its financial results for the second quarter ending June 29, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | QoQ Change | Consensus Estimate | Vs. Estimate |
|---|---|---|---|---|---|---|---|
| Total Revenue ($M) | $741.2 | $746.3 | $892.1 | -16.9% | -0.7% | $754.71 | -1.8% |
| Earnings Per Share (EPS) | $0.17 | $0.22 | $0.68 | -75.0% | -22.7% | $0.15 | +13.3% |
The total revenue for Q2 2024 was $741.2 million, which signifies a year-over-year decrease of 16.9% and a quarter-over-quarter decrease of 0.7%. The earnings per share (EPS) came in at $0.17, marking a significant drop from $0.68 in Q2 2023 but an increase from the consensus estimate of $0.15.
Segment Performance
| Segment | Q2 2024 Revenue ($M) | QoQ Change (%) | YoY Change (%) |
|---|---|---|---|
| MOSFETs | N/A | + | - |
| Diodes | N/A | - | - |
| Optoelectronic Components | N/A | + | - |
| Resistors | N/A | - | - |
| Inductors | N/A | + | + |
| Capacitors | N/A | - | - |
While the revenue declined in almost every segment, the Inductors segment reported an increase both QoQ and YoY, driven primarily by increased sales to distribution and other specific market customers.
Operational Data
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | QoQ Change |
|---|---|---|---|---|---|
| Gross Profit Margin (%) | 22.0% | 22.8% | 28.9% | -6.9% | -0.8% |
| Book-to-Bill Ratio | 0.86 | 0.82 | N/A | N/A | +0.04 |
Gross profit margin saw a decline both year-over-year and quarter-over-quarter due to lower sales volume and cost inflation.
Comments from Company Officers
There were no direct comments from company officers provided in the report.
Dividends and Share Repurchase Program
Vishay Intertechnology did not specify any updates regarding dividends or share repurchase programs in this earnings release.
Forward Guidance
The company did not provide any specific forward guidance in the earnings release.
Stock Price Movement
Following the earnings release, Vishay Intertechnology's stock experienced a 1.40% decline.
The financial results reflect the ongoing challenges faced by Vishay Intertechnology amidst economic volatility and market demands. While the results missed the revenue estimates, the company managed to exceed EPS expectations, demonstrating operational resilience.