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Jul 02, 2022
Vishay Q2 2022 Earnings Report
Reported increased revenue and EPS compared to the previous quarter and year-ago quarter, despite challenges from a stronger US dollar and COVID-related shutdowns in Shanghai.
Key Takeaways
Vishay Intertechnology reported Q2 2022 results with revenues of $863.5 million and EPS of $0.78. The company's performance exceeded expectations despite a stronger US dollar and COVID-related shutdowns in Shanghai. Margins were positively impacted by a temporary inventory build. The company issued Q3 2022 revenue guidance of $860 to $900 million and gross margin of 29.0% +/- 50 basis points.
Revenues for Q2 2022 reached $863.5 million, surpassing the $853.8 million in the previous quarter and $819.1 million in the year-ago quarter.
Net earnings attributable to Vishay stockholders for Q2 2022 were $112.4 million, or $0.78 per diluted share.
Adjusted earnings per diluted share for Q2 2022 were $0.82, compared to $0.71 for the previous quarter and $0.61 for the year-ago quarter.
The company is guiding for Q3 2022 revenues in the range of $860 to $900 million with a gross margin of 29.0% plus/minus 50 basis points.
Forward Guidance
For the third quarter of 2022, Vishay anticipates revenues between $860 million and $900 million, with a gross margin of 29.0% plus or minus 50 basis points, assuming an exchange rate of the US dollar to the Euro of 0.98.
Positive Outlook
- Revenue guidance between $860 million and $900 million.
- Gross margin of 29.0% plus or minus 50 basis points.
- Anticipates normalizing inventory in the second half of the year.
- Turns of the inventory of the company's products at distribution were at a good level of 3.6.
- Dr. Gerald Paul mentioned that margins were positively impacted by a temporary inventory build.
Challenges Ahead
- Guidance assumes an exchange rate of the US dollar to the Euro of 0.98.
- Prolonged COVID related shutdowns in Shanghai.
- Margins were positively impacted by a temporary inventory build, which we anticipate normalizing in the second half of the year.
Historical Earnings Impact
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