OLED provider Universal Display (NASDAQ:OLED) will be announcing earnings results tomorrow afternoon. Here’s what to expect.
Universal Display met analysts’ revenue expectations last quarter, reporting revenues of $158.5 million, up 8.1% year on year. It was a softer quarter for the company, with a miss of analysts’ EPS estimates.
Is Universal Display a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Universal Display’s revenue to grow 17% year on year to $165 million, a reversal from the 12.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.20 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Universal Display has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Universal Display’s peers in the analog semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 46.4%, beating analysts’ expectations by 2.5%, and ON Semiconductor reported a revenue decline of 19.2%, in line with consensus estimates. Impinj traded down 13.1% following the results.
Read our full analysis of Impinj’s results here and ON Semiconductor’s results here.
Investors in the analog semiconductors segment have had steady hands going into earnings, with share prices flat over the last month. Universal Display is down 1.7% during the same time and is heading into earnings with an average analyst price target of $229.80 (compared to the current share price of $206.31).
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