Universal Display Q3 revenue $141.1M, down 12% YoY; net income $51.5M; revises 2023 guidance to $565-590M

UNIVERSAL DISPLAY CORP PA

2023-Q3 EPS reported $2.95 revenue$418,109,000

Q3 revenue $141.1M vs $160.6M YoY; net income $51.5M ($1.08 diluted EPS) vs $53.5M ($1.12).
Material sales grew to $92.5M from $84.2M; royalty/license fees dropped to $45.9M from $71.5M.
Operating income fell to $48.4M from $68.5M; total gross margin 76% vs 77%.
2023 revenue guidance revised to $565-590M (prior range not disclosed).
Q4 dividend declared at $0.35/share, payable Dec 29, 2023 to holders of record Dec 15.

item 2.02 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVERSAL DISPLAY CORP PA reported the third quarter ended September 30, 2023 results: revenue $141.1 million, net income $51.5 million or $1.08 per diluted share, EPS $1.08 per diluted share. Guidance lowered.

Period: the third quarter ended September 30, 2023
Revenue: $141.1 million
Net income: $51.5 million or $1.08 per diluted share
EPS: $1.08 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

commitment to advancing our robust OLED materials and technology leadership.” Financial Highlights for the Third Quarter of 2023 • Total revenue in the third quarter of 2023 was $141.1 million as compared to $160.6 million in the third quarter of 2022. • Revenue from material sales was $92.5 million in the third quarter of 2023 as compared to $84.2 million in the third

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVERSAL DISPLAY CORP PA reported the first nine months of 2023 results: revenue $418.1 million, net income $141.0 million or $2.95 per diluted share, EPS $2.95 per diluted share. Guidance lowered.

Period: the first nine months of 2023
Revenue: $418.1 million
Net income: $141.0 million or $2.95 per diluted share
EPS: $2.95 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

sales 60,853 50,125 Gross margin as a % of material sales 66 % 60 % Financial Highlights for the First Nine Months of 2023 • Total revenue in the first nine months of 2023 was $418.1 million as compared to $447.6 million in the first nine months of 2022. • Revenue from material sales was $239.8 million in the first nine months of 2023 as compared to $242.7 million in

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Source: SEC EDGAR

accession 0000950170-23-058187

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