Universal Display Q2 revenue $146.6M, EPS $1.04; raises 2023 guidance lower end to $560M

UNIVERSAL DISPLAY CORP PA

2023-Q2 EPS reported $1.87 revenue$277,032,000

Revenue $146.6M (+7% YoY); net income $49.7M or $1.04 diluted EPS (vs $0.87).
Material sales $77.1M (+7% YoY); royalty & license fees $64.4M (+7% YoY).
FY 2023 revenue guidance narrowed to $560-600M from prior $550-600M.
Declared Q3 cash dividend $0.35/share, payable Sep 29 to holders of record Sep 15.
Gross margin 78% vs 80% due to Shannon facility costs of $3.9M.

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