MALVERN, PA — Vishay Intertechnology, Inc., (NYSE: VSH) this week announced results for the fiscal first quarter ended April 1, 2023.
Highlights
- 1Q 2023 revenues of $871.0 million
- 1Q 2023 EPS of $0.79
- 1Q 2023 book-to-bill of 0.84
- Backlog at quarter end was 7.5 months
- YTD 2023 total stockholder return of $34.2 million
- Extension of $750 million revolving credit facility to May 2028
“Driven by sales increases in medical and aerospace/defense along with continued strong demand in automotive, for the first quarter we delivered revenue growth of 2.0% year over year and 1.8% quarter over quarter. We also increased investments in capacity expansion for our 30 key product lines in support of high growth and high return opportunities that meet our customers’ accelerating demand. While 2023 is a staging year at Vishay as we prepare to participate fully in the next step up in demand related to connectivity, mobility and sustainability megatrends, we remain committed to spending approximately $385 million in capex and returning at least $100 million to our stockholders,” said Joel Smejkal, president and CEO.
2Q 2023 Outlook
For the second quarter of 2023, management expects revenues in the range of $860 million and $900 million and a gross profit margin in the range of 29.0% +/- 50 basis points.
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