Universal Display Corp reported second-quarter 2026 results with revenue of $152.2M and diluted EPS of $1.06, down from $171.8M and $1.41, respectively, in the year‑ago quarter; net income fell to $49.4M from $67.3M a year earlier.
Financial Highlights
- Revenue was $152.2M for Q2 2026, down from $171.8M in the year‑ago quarter; YoY change (11.4%).
- Net income was $49.4M for Q2 2026, versus $67.3M in the year‑ago quarter; YoY change (26.5%).
- Diluted EPS was $1.06 for Q2 2026, compared with $1.41 in the year‑ago quarter; YoY change (24.8%).
Business Highlights
- Total revenue declined year over year, driven by a 14–25% drop in material sales and weaker demand for contract research, which pressured gross margins.
- Shifts in channel and customer mix and lower unit volumes weighed on sales and pricing assumptions—green material volumes fell roughly 4–5% and red approximately 15–21%.
- License and royalty fees showed mixed timing effects: a quarterly increase but a six‑month decline, with cumulative catch‑up adjustments materially affecting revenue recognition timing.
- Operational footprint changes included expanded manufacturing in Shannon (operational since 2022; purchased 2023) and consolidation of UVJP operations to Singapore and New Jersey.
- R&D spending continued, and Adesis CDMO contributed contract research services, although Adesis revenue declined by about 36%.
Original SEC Filing:
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