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Thursday, November 1, 2018

=Universal Display (OLED) reported earnings on Thur 1 Nov 2018 (a/h)

Universal Display misses by $0.18, misses on revs; guides FY18 revs below consensus; magnitude of 2H18 pick-up in material sales not shaping up as expected 

  • Reports Q3 (Sep) earnings of $0.48 per share, $0.18 worse thanthe S&P Capital IQ Consensus of $0.66; revenues rose 25.7% year/year to $77.55 mln vs the $92.21 mln S&P Capital IQ Consensus.
  • Co issues downside guidancefor FY18, sees FY18 revs of $240-250 mln vs. $304.62 mln S&P Capital IQ Consensus.
  • During the quarter, co saw a pick-up in the smartphone market, driven by a number of new OLED display launches, including mobile products from Apple, Google, Huawei, LG, Samsung and others. However, the "magnitude of the second-half pick-up in our material sales is not shaping up to the degree that we had earlier forecasted."
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