---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017191"
form_type: "8-K"
ticker: "OLED"
cik: "0001005284"
company_name: "UNIVERSAL DISPLAY CORP PA"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-15T23:54:58.730483+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# UDC Q1 revenue down 13% to $130.5M; acquires Merck KGaA OLED patents for $66M

## Summary
- Q1 2023 revenue of $130.5M vs $150.5M YoY; net income $39.8M ($0.83 diluted EPS) vs $50.0M ($1.05).
- Reaffirms FY 2023 revenue guidance of $550M to $600M; declares Q2 dividend of $0.35/share payable June 30.
- Acquired Merck KGaA's phosphorescent OLED emitter patent portfolio for $66M cash; over 550 patents across 172 families.
- Multi-year collaboration with Merck KGaA for advanced PHOLED stacks using UDC's green/yellow emitters and Merck's transport/host materials.

## SEC filing metadata
- accession: 0000950170-23-017191
- form_type: 8-K
- ticker: OLED
- cik: 0001005284
- company_name: UNIVERSAL DISPLAY CORP PA
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1005284/000095017023017191/0000950170-23-017191-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1005284/000095017023017191/oled-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017191
- JSON: https://secwatch.observer/filing/0000950170-23-017191.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017191.txt

## Key facts
- Earnings Releases
  UNIVERSAL DISPLAY CORP PA reported the first quarter ended March 31, 2023 results: revenue $130.5 million, net income $39.8 million, EPS $0.83 per diluted share. Guidance reaffirmed.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $130.5 million
  - Net income: $39.8 million
  - EPS: $0.83 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: new multi-year collaboration agreement with Merck KGaA, Darmstadt, Germany.” Financial Highlights for the First Quarter of 2023 • Total revenue in the first quarter of 2023 was $130.5 million as compared to $150.5 million in the first quarter of 2022. As we have previously noted, the near-term weakness in the overall global market economy continues to have an impact
  evidence_url: https://www.sec.gov/Archives/edgar/data/1005284/000095017023017191/0000950170-23-017191-index.htm

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