Universal Display Earnings: What To Look For From OLED
OLED provider Universal Display (NASDAQ:OLED) will be announcing earnings results tomorrow afternoon. Here's what investors should know.
Last quarter Universal Display reported revenues of $146.6 million, up 7.33% year on year, beating analyst revenue expectations by 13.8%. It was a decent quarter for the company, with an impressive beat of analysts' revenue estimates but an increase in its inventory levels.
Is Universal Display buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Universal Display's revenue to decline 7.2% year on year to $149 million, a deceleration on the 11.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.02 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Universal Display's peers in the analog semiconductors segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Impinj's revenues decreased 4.78% year on year, beating analyst estimates by 0.46%, and Texas Instruments reported revenue decline of 13.5% year on year, missing analyst estimates by 1.22%. Impinj traded up 20.7% on the results, Texas Instruments was down 4.3%.
Read our full analysis of Impinj's results here and Texas Instruments's results here.
Tech stocks have had a rocky start since 2022, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share price declining 8.81% over the last month. Universal Display is down 10.6% during the same time, and is heading into the earnings with analyst price target of $173.3, compared to share price of $137.5.
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The author has no position in any of the stocks mentioned.
