---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-014781"
form_type: "8-K"
ticker: "OLED"
cik: "0001005284"
company_name: "UNIVERSAL DISPLAY CORP PA"
filed_at: "2022-08-04T23:59:59+00:00"
generated_at: "2026-06-24T03:35:32.131871+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Universal Display slashes 2022 revenue forecast to ~$600M, CFO retiring

## Summary
- Q2 revenue $136.6M (+5% YoY); EPS $0.87 vs $0.85; material sales fell 7% to $71.9M.
- FY2022 revenue guidance cut to ~$600M ±$10M citing macro uncertainty and lower customer forecasts.
- CFO Sidney Rosenblatt retiring Dec 30; CFO duties cease Sep 6; Brian Millard hired as new CFO.
- Q3 cash dividend maintained at $0.30/share, payable Sep 30, 2022, record Sep 16.
- Royalty revenue included $8.8M cumulative catch-up adjustment due to reduced future volume estimates.

## SEC filing metadata
- accession: 0000950170-22-014781
- form_type: 8-K
- ticker: OLED
- cik: 0001005284
- company_name: UNIVERSAL DISPLAY CORP PA
- filed_at: 2022-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1005284/000095017022014781/0000950170-22-014781-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1005284/000095017022014781/oled-20220804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-014781
- JSON: https://secwatch.observer/filing/0000950170-22-014781.json
- Plain text: https://secwatch.observer/filing/0000950170-22-014781.txt

## Key facts
- Executive change
  Brian Millard was appointed as Vice President of Finance, Chief Financial Officer and Treasurer at UNIVERSAL DISPLAY CORP PA.
  - Action: hired
  - Role: Vice President of Finance, Chief Financial Officer and Treasurer
  source text: the Company also announced that it has hired Brian Millard, 39, to become the Company’s Vice President of Finance, Chief Financial Officer and Treasurer, effective September 6, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1005284/000095017022014781/0000950170-22-014781-index.htm
- Executive change
  Sidney D. Rosenblatt retired as Executive Vice President, Chief Financial Officer, Treasurer and Secretary at UNIVERSAL DISPLAY CORP PA.
  - Action: retired
  - Role: Executive Vice President, Chief Financial Officer, Treasurer and Secretary
  source text: he will cease to serve as the Company’s Chief Financial Officer, Treasurer and Secretary effective September 6, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1005284/000095017022014781/0000950170-22-014781-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.