Vishay Intertechnology Earnings Call Transcripts
Fiscal Year 2025
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Fourth quarter revenue grew 12% year-over-year to $801 million, with strong order momentum and a book-to-bill of 1.2. Capacity expansion and new product releases are driving growth, while 2026 guidance anticipates continued revenue increases and peak CapEx in the first half.
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Q3 2025 revenue rose 4% sequentially to $791M, led by automotive and industrial growth, with gross margin at 19.5%. Capacity investments and new product launches position the company for continued growth, while guidance for Q4 remains stable amid ongoing cost pressures and dynamic market conditions.
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Q2 2025 saw 7% sequential revenue growth to $762M, with all segments and regions contributing. Backlog and book-to-bill remain strong, capacity expansion is on track, and guidance points to continued growth and margin improvement in Q3. AI, smart grid, and automotive drive demand.
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Q1 revenue was $715M, flat sequentially, with improving book-to-bill and strong demand in smart grid, AI, and automotive. Q2 revenue is guided up 6% to $760M, with limited tariff impact and continued capacity expansion. Free cash flow remains negative due to investments.
Fiscal Year 2024
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Q4 revenue declined 2.8% sequentially and 9% year-over-year, with gross margin at 19.9% and a $66M goodwill impairment impacting results. Book-to-bill turned positive for the first time in nine quarters, and capacity expansion remains a key focus despite ongoing negative free cash flow and macro headwinds in Europe.
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Q3 revenue was flat sequentially at $735.4 million, with automotive and AI server demand offsetting industrial and European weakness. Gross margin declined, and restructuring charges led to a GAAP loss, but strategic initiatives and capacity expansion continue.
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Q2 revenue was flat sequentially at $741.2M, with softness in automotive and industrial offset by AI server demand and the Newport acquisition. Gross margin declined to 22%, and free cash flow was negative due to high CapEx. Guidance for Q3 is cautious, with continued inventory digestion and pricing pressure in semiconductors.