Vishay Q2 revenue $741.2M, EPS $0.17; 3Q outlook below expectations

VISHAY INTERTECHNOLOGY INC

2024-Q2 EPS reported $0.39 revenue$1,487,518,000

Q2 revenue $741.2M flat QoQ; gross margin 22.0% (incl. ~170bps Newport drag); EPS $0.17.
Book-to-bill 0.86 (semi 0.82, passive 0.90); backlog 4.6 months; industry recovery slower than expected.
Capex plan for 2024 reduced to $360-390M; Itzehoe expansion delayed beyond 2024; $2.6B total plan unchanged.
3Q24 guidance: revenue $745M ± $20M, gross margin 21.0% ± 50bps (incl. 175-200bps Newport impact).
Automotive Tier 1 schedule adjustments cited as primary revenue headwind.

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