Vishay Intertechnology (VSH) Q1 2026 Financial Results Summary

Malvern, PA, May 13, 2026 – Vishay Intertechnology, Inc. (NYSE: VSH) released their financial results for the fiscal first quarter, which ended on April 4, 2026. Below is a summary of the reported metrics and highlights from the quarter.

Financial Highlights

• Total Revenues: Q1 2026 revenues amounted to $839.2 million, representing a growth of 17.4% compared to $715.2 million reported in Q1 2025.
• Gross Margin: The gross margin for Q1 2026 was 21.0%, up from 19.0% in Q1 2025, showing an increase of 1.0 percentage points.
• GAAP Earnings Per Share (EPS): The company reported a Q1 2026 EPS of $0.05, a recovery from a loss of $(0.03) per share in the same quarter last year.
• Operating Income: Operating income rose to $22.1 million in Q1 2026, a significant increase from just $0.8 million in Q1 2025, marking a substantial improvement in operational performance.
• Operating Margin: The operating margin increased to 2.6%, compared to 0.1% in the prior year, indicating stronger cost management and revenue generation.

Book-to-Bill Ratio

• Book-to-Bill Ratio: For the quarter, the overall book-to-bill ratio was 1.34, with semiconductors at 1.47 and passive components at 1.23. This indicates a strong booking rate relative to billed sales, suggesting growth momentum in their order intake.
• Backlog Duration: At the end of the quarter, backlog stood at 5.7 months, signaling sustained demand for Vishay's products.

Future Outlook

• Revenue Expectations: Management forecasts Q2 2026 revenues in the range of $875 million to $905 million.
• Margin Guidance: The anticipated gross profit margin for Q2 is projected to be approximately 22.0%, with a variance of +/- 50 basis points.

Shareholder Returns

• Dividends: Vishay declared a quarterly dividend of $0.10 per share, consistent with the dividend amount paid in both the previous quarter and the same quarter last year.

Cash Flow & Investments

• Cash Flow from Operations: The net cash provided by operating activities was $63.7 million, a significant increase from $16.1 million in Q1 2025, demonstrating improved cash generation capacity.
• Investing Activities: Cash used in investing activities reached $110.1 million, up from $56.0 million, reflecting ongoing capital expenditure to support growth initiatives.
• Financing Activities: Net cash provided by financing activities was $13.5 million, compared to $52.0 million in the same period last year, indicating a decrease in new borrowing.

Summary of Financial Metrics

• Net Revenues: $839.2 million (↑ 17.4% vs. Q1 2025)
• Gross Margin: 21.0% (↑ 1.0 pp vs. Q1 2025)
• GAAP EPS: $0.05 (↑ from $(0.03) vs. Q1 2025)
• Operating Income: $22.1 million (↑ from $0.8 million vs. Q1 2025)
• Operating Margin: 2.6% (↑ 2.5 pp vs. Q1 2025)
• Book-to-Bill Ratio: 1.34 (semiconductors: 1.47, passive: 1.23)
• Backlog Duration: 5.7 months
• Cash Dividend: $0.10 per share (consistent with previous quarters)
• Operating Activities Cash Flow: $63.7 million (↑ from $16.1 million vs. Q1 2025)
• Investing Activities Cash Flow: $(110.1 million) (↑ from $(56.0 million) vs. Q1 2025)
• Financing Activities Cash Flow: $13.5 million (↓ from $52.0 million vs. Q1 2025)

The continued focus on expanding the capacity for high-growth products aligns with Vishay's key strategic initiatives aimed at optimizing operational performance and fostering customer relationships. The management remains optimistic about further enhancing their market position and financial performance in the upcoming quarters.

VISHAY INTERTECHNOLOGY, INC. Consolidated Statements of Income

(Unaudited - In thousands, except per share amounts)

Note: All amounts are in thousands.

Description	April 4, 2026	December 31, 2025	March 29, 2025
Net revenues	$839,242	$800,922	$715,236
Costs of products sold	662,630	644,135	579,682
Gross profit	176,612	156,787	135,554
Gross margin	21.0%	19.6%	19.0%
Selling, general, and administrative expenses	154,488	141,999	134,739
Operating income	22,124	14,788	815
Operating margin	2.6%	1.8%	0.1%
Other income (expense):
Interest expense	(9,973)	(9,748)	(8,790)
Other	701	537	3,747
Total other income (expense) - net	(9,272)	(9,211)	(5,043)
Income (loss) before taxes	12,852	5,577	(4,228)
Income tax expense (benefit)	5,688	4,591	(136)
Net earnings (loss)	$7,164	$986	$(4,092)
Basic earnings (loss) per share	$0.05	$0.01	$(0.03)
Diluted earnings (loss) per share	$0.05	$0.01	$(0.03)
Weighted average shares outstanding - basic	136,045	135,727	135,799
Weighted average shares outstanding - diluted	137,471	136,730	135,799
Cash dividends per share	$0.10	$0.10	$0.10

VISHAY INTERTECHNOLOGY, INC. Consolidated Condensed Balance Sheets

(Unaudited - In thousands)

Note: All amounts are in thousands.

Assets	April 4, 2026	December 31, 2025
Cash and cash equivalents	$479,357	$514,966
Short-term investments	191	265
Accounts receivable, net	369,222	381,802
Inventories:
Finished goods	182,179	182,444
Work in process	347,994	331,347
Raw materials	260,611	245,412
Total inventories	790,784	759,203
Prepaid expenses and other current assets	237,429	231,004
Total current assets	1,876,983	1,887,240
Property and equipment, at cost:
Land	86,093	86,399
Buildings and improvements	836,309	839,856
Machinery and equipment	3,503,626	3,477,884
Construction in progress	509,318	464,475
Allowance for depreciation	(3,215,047)	(3,195,455)
1,720,299	1,673,159
Right of use assets	116,526	119,746
Deferred income taxes	182,693	183,016
Goodwill	180,224	180,390
Other intangible assets, net	74,396	Disclaimer The content on MarketsFN.com is provided for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or trading guidance. All investments carry risk and past performance does not guarantee future results. You are solely responsible for your investment decisions and should conduct independent research and consult a qualified financial advisor before acting. MarketsFN.com and its authors are not liable for any losses or damages arising from the use of this information.