Universal Display Q2 2022 Earnings Report
Key Takeaways
Universal Display Corporation reported Q2 2022 revenue of $136.6 million, an increase from $129.7 million in Q2 2021. Despite this increase, the company revised its 2022 revenue forecast to approximately $600 million due to macroeconomic uncertainty and volatility.
Total revenue for Q2 2022 was $136.6 million compared to $129.7 million in Q2 2021.
Material sales revenue was $71.9 million, down from $77.4 million in the same quarter last year.
Royalty and license fees revenue increased to $60.3 million from $48.2 million in Q2 2021.
Operating income rose to $53.3 million, compared to $49.9 million in the previous year.
Universal Display
Universal Display
Universal Display Revenue by Segment
Forward Guidance
The company revised its 2022 revenue forecast to approximately $600 million, plus or minus $10 million, due to downward trends in customer order forecasts and increasing macroeconomic uncertainty.
Positive Outlook
- Well-positioned to continue investing in long-term strategic growth initiatives.
- Reinforce first-mover advantage.
- Expand materials and technologies portfolio.
- Broaden support to customers and the OLED industry.
- On track to meet preliminary target specs with phosphorescent blue by year-end.
Challenges Ahead
- Near-term macro headwinds may weigh on demand.
- Customers lowered their order forecasts.
- Increasing macroeconomic uncertainty.
- Increasing macroeconomic volatility.
- Deterioration in the overall global market economy had a negative impact on the demand for OLED products
Revenue & Expenses
Visualization of income flow from segment revenue to net income