Universal Display Q1 2024 revenue $165.3M, EPS $1.19, raises 2024 revenue guidance

UNIVERSAL DISPLAY CORP PA

2024-Q1 EPS reported $1.19 revenue$165,259,000

Revenue $165.3M (up 27% YoY); net income $56.9M ($1.19 diluted EPS) vs $39.8M ($0.83) in Q1 2023.
Material sales $93.3M (up 33% YoY) driven by stronger demand for emitter materials; royalty/license fees $68.3M.
2024 revenue guidance revised to $635-$675M (raised lower end from prior guidance).
Q2 cash dividend of $0.40 per share declared, payable June 28, 2024 to holders of record June 14.
Gross margin improved to 78% (from 75% in Q1 2023); operating income $62.9M vs $45.4M.

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 first quarter ended March 31, 2024 guidance (raised).

Period: first quarter ended March 31, 2024
Guidance: raised
Result: reported results

Exact text from the filing

On May 2, 2024, Universal Display Corporation (the “Company”) issued a press release regarding its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-052098

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