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Dec 31, 2022
Universal Electronics Q4 2022 Earnings Report
Reported financial results for the fourth quarter and year-end 2022.
Key Takeaways
Universal Electronics Inc. reported a decrease in GAAP net sales to $122.8 million compared to $144.9 million in the same quarter of the previous year. The company experienced a GAAP net loss of $6.9 million, or $0.54 per share, compared to a net loss of $6.3 million, or $0.49 per share in Q4 2021.
GAAP net sales were $122.8 million, compared to $144.9 million.
GAAP gross margins were 26.2%, compared to 24.9%.
GAAP operating loss was $1.9 million, compared to $3.3 million.
GAAP net loss was $6.9 million, or $0.54 per share, compared to $6.3 million, or $0.49 per share.
Forward Guidance
For the first quarter of 2023, the company expects GAAP net sales to range between $100 million and $110 million, compared to $132.4 million in the first quarter of 2022. GAAP loss per share for the first quarter of 2023 is expected to range from $1.11 to $1.21, compared to a GAAP loss per share of $0.23 in the first quarter of 2022.
Positive Outlook
- Net sales for the second quarter of 2023 will be stronger than the first.
- The third and fourth quarters will each be better than the second.
- Prioritize near-term sales projects and opportunities.
- Refine our allocation of global product development resources.
- Accelerate moving product service and maintenance to lower cost regions.
Challenges Ahead
- Challenging macroeconomic conditions.
- Lower consumer spending.
- Results in the fourth quarter of 2022 were affected and we expect this to continue to impact our performance in the first quarter of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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