OLED provider Universal Display (NASDAQ: OLED) will be announcing earnings results this Thursday after the bell. Here’s what to look for.
Universal Display met analysts’ revenue expectations last quarter, reporting revenues of $172.9 million, up 6.6% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations significantly.
Is Universal Display a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Universal Display’s revenue to decline 3.9% year on year, a deceleration from its flat revenue in the same quarter last year.
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 multiple times over the last two years.
Looking at Universal Display’s peers in the analog semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Instruments delivered year-on-year revenue growth of 18.6%, beating analysts’ expectations by 6.6%, and Magnachip reported revenues up 3.3%, in line with consensus estimates. Texas Instruments traded up 19.4% following the results.
Read our full analysis of Texas Instruments’s results here and Magnachip’s results here.
There has been positive sentiment among investors in the analog semiconductors segment, with share prices up 43% on average over the last month. Universal Display is up 1.4% during the same time and is heading into earnings with an average analyst price target of $140.38 (compared to the current share price of $90.37).
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