Universal Electronics Q1 sales $91.9M, loss narrows; Q2 sales guidance $90-100M

UNIVERSAL ELECTRONICS INC

2024-Q1 EPS reported -$0.67 revenue$91,900,000

Q1 net sales $91.9M (down 15% YoY); GAAP net loss $8.6M (-$0.67/share) vs $61.4M loss including $49.1M goodwill impairment in Q1 2023.
Adjusted non-GAAP net loss $2.5M (-$0.19/share) vs $3.5M loss (-$0.28); adjusted gross margin improved to 29.6% from 25.4%.
Q2 2024 guidance: GAAP net sales $90-100M, adjusted loss per share $0.10 to $0.00; prior Q2 sales were $107.4M.
Management cited project wins with six of top ten HVAC equipment makers; repurchased 95k shares for $0.8M in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL ELECTRONICS INC reported three months ended March 31, 2024 results: revenue $91.9 million, net income $8.6 million, or $0.67 per share, EPS $0.67 per share. Guidance initiated.

Period: three months ended March 31, 2024
Revenue: $91.9 million
Net income: $8.6 million, or $0.67 per share
EPS: $0.67 per share
Guidance: initiated
Result: reported results

Exact text from the filing

our employees around the world remain hard at work to make this a reality.” Financial Results for the Three Months Ended March 31: 2024 Compared to 2023 • GAAP net sales were $91.9 million, compared to $108.4 million; Adjusted Non-GAAP net sales were $91.9 million, compared to $108.4 million. • GAAP gross margins were 28.3%, compared to 22.8%; Adjusted Non-GAAP

View on SEC.gov

379 earnings releases filed in the last 30 days. Browse all earnings releases →

UNIVERSAL ELECTRONICS INC filing history →

Source: SEC EDGAR

accession 0000101984-24-000064

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.