Universal Display Q2 revenue $158.5M (+8% YoY); EPS $1.10; raises FY2024 guidance lower end to $645M

UNIVERSAL DISPLAY CORP PA

2024-Q2 EPS reported $2.29 revenue$323,764,000

Q2 net income $52.3M ($1.10 diluted EPS) vs $49.7M ($1.04) YoY; revenue $158.5M vs $146.6M.
Material sales $95.4M (+24% YoY); royalty & license fees $59.6M (-7% YoY).
FY2024 revenue guidance raised to $645M-$675M (increased lower end); cites OLED IT adoption cycle.
Q3 dividend $0.40/share, payable Sep 30, 2024, record Sep 16, 2024.
First-half 2024 revenue $323.8M (+17% YoY); net income $109.2M ($2.29 diluted EPS).

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