Universal Display Q4 EPS $1.36, revenue $169M; FY2022 record revenue $616.6M; guides FY2023 $550-600M

UNIVERSAL DISPLAY CORP PA

2022-FY EPS reported $4.40 revenue$616,619,000

Q4 2022 revenue $169.0M (+16% YoY); net income $65.1M ($1.36 diluted EPS) vs $45.9M ($0.96) in Q4 2021.
Full year 2022 revenue $616.6M (+11% YoY); net income $210.1M ($4.40 diluted EPS) vs $184.2M ($3.87) in 2021.
Revenue included $30.3M cumulative catch-up adjustment from changes in transaction price estimates.
FY2023 revenue guidance $550M-$600M, below FY2022 actual of $616.6M.
Declared Q1 cash dividend $0.35/share, payable March 31, 2023 to holders of record March 17, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL DISPLAY CORP PA reported the full year ended December 31, 2022 results: revenue $616.6 million, net income $210.1 million, EPS $4.40 per diluted share.

Period: the full year ended December 31, 2022
Revenue: $616.6 million
Net income: $210.1 million
EPS: $4.40 per diluted share
Result: reported results

Exact text from the filing

• Total revenue for the full year 2022 was $616.6 million as compared to $553.5 million for the full year 2021. We continue to expect the near-term weakness in the overall global market economy to have an impact on forecasted demand for OLED products utilizing our emitter material over the remaining life of certain customers’ contracts compared to prior estimates, resulting in us recording a positive cumulative catch-up adjustment to total revenue during the full year 2022 of $30.3 million arising from changes in estimates of transaction price. • Revenue from material sales was $331.1 million for the full year 2022 as compared to $318.6 million for the full year 2021. This increase was primarily the result of higher unit volume. • Revenue from royalty and license fees was $267.1 million for the full year 2022 as compared to $219.0 million for the full year 2021. The increase was primarily due to the cumulative catch-up adjustment as well as higher unit material volume. • Cost of materi

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL DISPLAY CORP PA reported fiscal year 2023 results: revenue $550 million to $600 million. Guidance initiated.

Period: fiscal year 2023
Revenue: $550 million to $600 million
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company believes that its 2023 revenue will be the range of $550 million to $600 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL DISPLAY CORP PA reported the fourth quarter ended December 31, 2022 results: revenue $169.0 million, net income $65.1 million, EPS $1.36 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $169.0 million
Net income: $65.1 million
EPS: $1.36 per diluted share
Result: reported results

Exact text from the filing

• Total revenue in the fourth quarter of 2022 was $169.0 million as compared to $146.2 million in the fourth quarter of 2021. We continue to expect the near-term weakness in the overall global market economy to have an impact on forecasted demand for OLED products utilizing our emitter material over the remaining life of certain customers’ contracts compared to prior estimates, resulting in us recording a positive cumulative catch-up adjustment to total revenue during the fourth quarter of 2022 of $13.0 million arising from changes in estimates of transaction price. • Revenue from material sales was $88.3 million in the fourth quarter of 2022 as compared to $85.8 million in the fourth quarter of 2021. This increase was primarily the result of higher unit volume. • Revenue from royalty and license fees was $75.6 million in the fourth quarter of 2022 as compared to $56.0 million in the fourth quarter of 2021. The increase was primarily due to the cumulative catch-up adjustment as well as

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Source: SEC EDGAR

accession 0000950170-23-004111

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