Universal Display Q4 rev down 6%; FY net income falls to $203M; guides FY24 rev $625M-$675M

UNIVERSAL DISPLAY CORP PA

2023-FY EPS reported $4.24 revenue$576,429,000

Q4 2023 revenue $158.3M (down 6% YoY); diluted EPS $1.29 vs $1.36 in Q4 2022.
Full-year 2023 revenue $576.4M (down 7%); net income $203.0M ($4.24 diluted EPS) vs $210.1M ($4.40).
Gross margin declined to 77% (FY) from 79% due to Shannon facility costs and inventory reserves.
FY 2024 revenue guidance $625M-$675M, implying 8-17% growth from 2023.
Q1 dividend $0.40/share unchanged; payable March 29, record March 15.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL DISPLAY CORP PA updated its the fourth quarter and full year ended December 31, 2023 guidance (reaffirmed).

Period: the fourth quarter and full year ended December 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Universal Display Corporation (the "Company") issued a press release regarding its financial results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0000950170-24-018758

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