Universal Electronics Q3 net loss narrows to $2.7M; adj EPS $0.10; Q4 guidance adj EPS $0.10-$0.20

UNIVERSAL ELECTRONICS INC

2024-Q3 EPS reported -$1.51 revenue$284,425,000

Q3 GAAP net sales $102.1M (-4.7% YoY); GAAP gross margin 30.1% vs 19.1% YoY (improvement 1100 bps).
GAAP operating income $0.4M vs loss $14.0M; GAAP net loss $2.7M ($0.20/sh) vs $19.4M ($1.50/sh).
Adjusted Non-GAAP net income $1.4M ($0.10/sh) vs adjusted net loss $0.7M ($0.05 loss) YoY.
Q4 guidance: GAAP net sales $99M-$109M; adj diluted EPS $0.10-$0.20 vs adj loss $0.04 in Q4 2023.
CEO cites recent design wins with Carrier, Daikin and smart home solution providers.

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