Universal Display Q1 revenue falls 14%, misses estimates

Universal Display

30/04/2026 21:33

Overview

OLED materials provider's Q1 revenue declined yr/yr, missing analyst expectations

Company cut 2026 revenue guidance to $630 mln-$670 mln from $650 mln-$700 mln

On April 28, board authorized new $400 mln share buyback after completing prior $100 mln program

Outlook

Universal Display lowers 2026 revenue guidance to $630 mln-$670 mln from $650 mln-$700 mln

Company expects customer mix in later 2026 to favorably impact royalty and license fees

Gen 8.6 OLED capacity additions in Korea and China expected to come online this year

Result Drivers

CUSTOMER MIX AND VOLUME - Co said lower Q1 material sales and royalty/license fees were mainly due to changes in customer mix and lower unit material volume

MEASURED NEAR-TERM CONDITIONS - Co described near-term market conditions as more measured, impacting results

Company press release: ID:nBw4DDVZNa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$142.20 mln
$160.66 mln (7 Analysts)
Q1 Net Income
$35.90 mln
Q1 Gross Margin
75.00%
Q1 Operating Income
$42.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy"

Wall Street's median 12-month price target for Universal Display Corp is $144.67, about 61.4% above its April 29 closing price of $89.63

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 21 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)