secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL DISPLAY CORP PA (OLED)
CIK:        0001005284
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0000950170-22-014781
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1005284/000095017022014781/0000950170-22-014781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1005284/000095017022014781/oled-20220804.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-014781

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