Universal Display (OLED) To Report Earnings Tomorrow: Here Is What To Expect
OLED provider Universal Display (NASDAQ:OLED) will be reporting earnings tomorrow after market close. Here's what investors should know.
Last quarter Universal Display reported revenues of $141.1 million, down 12.1% year on year, missing analyst expectations by 5.3%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.
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 4.7% year on year to $161 million, a deceleration on the 15.6% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.19 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 Q4 earnings results, giving us a hint what we can expect. Skyworks Solutions's revenues decreased 9.6% year on year, missing analyst estimates by 0.2% and ON Semiconductor reported revenue decline of 4.1% year on year, exceeding estimates by 0.4%. Skyworks Solutions traded up 5.5% on the results, ON Semiconductor was up 3.8%.
Read our full analysis of Skyworks Solutions's results here and ON Semiconductor's results here.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off in 2022 and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share price declining 2.5% over the last month. Universal Display is up 3.2% during the same time, and is heading into the earnings with analyst price target of $195.5, compared to share price of $185.7.
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