UEI Q2 net sales down 15.7% to $90.5M; gross margin up 580 bps; sees Q3 adjusted EPS $0.01-$0.11

UNIVERSAL ELECTRONICS INC

2024-Q2 EPS reported -$1.30 revenue$182,352,000

Q2 2024 GAAP net sales $90.5M, down 15.7% YoY from $107.4M; GAAP net loss $8.2M ($0.63/sh) vs $10.4M ($0.81/sh).
Adjusted Non-GAAP net loss $1.2M ($0.09/sh) vs $3.1M ($0.24/sh); gross margin 28.7% up 580bps YoY.
Q3 2024 guidance: net sales $98M-$108M (mid ~$103M) vs $107.1M prior year; non-GAAP EPS $0.01-$0.11.
Management expects H2 2024 profitability on manufacturing optimization and design wins.

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