Vishay ( (VSH) ) has released its Q3 earnings. Here is a breakdown of the information Vishay presented to its investors.
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Vishay Intertechnology, Inc. is a leading global manufacturer of discrete semiconductors and passive electronic components, serving a wide range of markets including automotive, industrial, and telecommunications. The company is recognized for its extensive portfolio and technological innovation.
In its third quarter of 2024, Vishay Intertechnology reported revenues of $735.4 million with a gross margin of 20.5%. The company recorded a GAAP loss per share of $0.14, while the adjusted earnings per share stood at $0.08. The book-to-bill ratio was 0.88, indicating a slower pace of new orders compared to the previous period.
Vishay faced challenges such as inventory de-stocking and a sluggish industrial customer consumption rate. The company also experienced a gross margin decrease due to the acquisition of Newport, impacting the margin by approximately 150 basis points. Despite these hurdles, Vishay continues to manage costs and remains focused on its five-year strategic plan aimed at capitalizing on future demand in e-mobility and sustainability sectors.
Looking ahead to the fourth quarter of 2024, Vishay anticipates revenues in the range of $720 million, with a gross profit margin around 20.0%. The company is preparing to leverage the next industry up-cycle, emphasizing its strategic adjustments to improve profitability and returns on invested capital.
