Yahoo Finance Universal Display (OLED) To Report Earnings Tomorrow: Here Is What To Expect
OLED provider Universal Display (NASDAQ:OLED) will be announcing earnings results tomorrow after market close. Here's what to expect.
Universal Display beat analysts' revenue expectations by 9.9% last quarter, reporting revenues of $165.3 million, up 26.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' EPS estimates and a significant improvement in its gross margin.
Is Universal Display a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Universal Display's revenue to grow 9.1% year on year to $159.9 million, improving from the 7.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.17 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Universal Display has missed Wall Street's revenue estimates four times over the last two years.
Looking at Universal Display's peers in the analog semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 19.2%, beating analysts' expectations by 5.2%, and Sensata Technologies reported a revenue decline of 2.5%, in line with consensus estimates. Impinj traded up 4.6% following the results while Sensata Technologies's stock price was unchanged.
Read our full analysis of Impinj's results here and Sensata Technologies's results here.
Growth stocks have been quite volatile since the start of 2024, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 7.3% on average over the last month. Universal Display is up 1.7% during the same time and is heading into earnings with an average analyst price target of $220.4 (compared to the current share price of $216.99).
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