Vishay Precision Group, Inc. · NYSE:VPG
Vishay Precision — Q3 2024 Earnings Presentation
18 slides from Vishay Precision's earnings presentation, Nov 5, 2024
Slide 1: 3Q24 Earnings Call
VP) 3Q24 Earnings Call November 5, 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement From time to time, information provided by us, including, but not limited to, statements in this presentation, or other statements made by or on our behalf, may contain or constitute "forward-looking" information within the meaning of the Private Securities Litigation Reform Ac
Slide 3: Third Quarter 2024 Overview
Third Quarter 2024 Overview • Total 3Q24 sales were stable sequentially. • Business environment remains mixed. • Continued focus on broadening the funnel of new business opportunities. • Streamlining operations mainly in Sensors and Weighing Solutions segments. • Acquisition of Nokra expands product
Slide 4: Fiscal Third Quarter 2024 Highlights
Fiscal Third Quarter 2024 Highlights Consolidated Financial Highlights (in $ millions) • Revenue of $75.7 million, declined 11.8% from the prior year and 2.1% sequentially. • Adj. gross margin of 40.0% declined from 42.1% a year ago and 41.9% in 2Q24. The sequentially lower adj. gross margin primari
Slide 5: Sensors: Third Quarter 2024 Highlights
Sensors: Third Quarter 2024 Highlights (in $ millions) • Sensors 3Q24 revenues decreased 2.3% sequentially, as lower sales of advanced sensors in the Other markets, mainly for consumer applications, was partially offset by higher sales of precision resistors in the AMS market. • Sequentially, 3Q24 S
Slide 6: Weighing Solutions: Third Quarter 2024 Highlights
Weighing Solutions: Third Quarter 2024 Highlights (in $ millions) • 3Q24 revenues decreased 8.3% sequentially and 13.1% from the prior year. • Sequentially, the decline in revenue reflected primarily lower sales in the Industrial Weighing, Transportation, and Other markets. • Gross margin of 35.1% d
Slide 7: Measurement Systems: Third Quarter 2024 Highlights
Measurement Systems: Third Quarter 2024 Highlights (in $ millions) • 3Q24 revenues of $22.4 million rose 6.2% sequentially primarily due to higher sales of DTS products in the AMS and Transportation markets, which offset weaker revenues in our Other markets and in the Steel market. • 3Q24 gross marg
Slide 8: VPG Acquires Nokra
VPG Acquires Nokra • Strategically expands product offering to the steel and metal processing market for VPG’s KELK business. • Nokra’s laser-based systems provide customers an effective alternative to precisely measure the thickness and flatness of metal sheets. • Leverages KELK’s sales channels an
Slide 9: VPG Releases Initial Sustainability Report
VPG Releases Initial Sustainability Report Report highlights VPG’s performance on material topics including: • Energy Management • Product Quality • Business Ethics • Information Security • Health & Safety Key highlights include: • Disclosure of Scope 1 and 2 Emissions for 2023. • 13% reduction in e
Slide 10: Financial Results
Financial Results Fiscal quarter ended ($ in millions, except margin data and per share amounts) September 28, 2024 September 30, 2023 June 29, 2024 Net revenues $ 75.7 $ 85.9 $ 77.4 Gross profit $ 30.3 $ 35.9 $ 32.4 Organic Gross profit margin 40.0 % Growth 41.9 Acquisitions % 41.9 % Adjusted gross
Slide 11: Selected Balance Sheet Items
Selected Balance Sheet Items ($ in Millions) September 28, September 30, 2024 2023 June 29, 2024 Cash & cash equivalents $ 81.1 $ 94.6 $ 84.1 Total assets $ 462.5 $ 484.3 $ 462.8 Total long-term debt $ 31.4 $ 53.8 $ 31.9 Total liabilities $ 131.9 $ 160.1 $ 135.8 11 PERFORMANCE THROUGH PRECISION
Slide 12: Q&A
Q&A PERFORMANCE THROUGH PRECISION 12 12
Slide 13: Appendix
Appendix PERFORMANCE THROUGH PRECISION 13 13
Slide 14: Third Quarter 2024 Market Trends
Third Quarter 2024 Market Trends Consolidated Revenue by Market $ in millions 3Q24 3Q23 2Q24 Test & Measurement $ 14.3 $ 17.1 $ 14.0 Avionics, Military, Space 8.6 8.3 6.2 Transportation 12.8 15.5 11.8 Industrial Weighing 8.6 10.5 9.6 General Industrial 4.5 4.6 4.8 Steel 12.1 13.4 13.0 Other Markets
Slide 15: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted EPS - Quarter
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share - Quarter Net Earnings Attributable to Gross Profit Operating Income VPG Stockholders Diluted Earnings Per share September 28, September 30, September 28, September 30, September 28, September 30,
Slide 16: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted EPS - YTD
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share - YTD Net (loss) Earnings Attributable Gross Profit Operating Income to VPG Stockholders Diluted Earnings Per share September 28, September 30, September 28, September 30, September 28, September 3
Slide 17: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA Fiscal quarter ended September 28, September 30, In $ thousands, except margin data 2024 2023 June 29, 2024 Net (loss) earnings attributable to VPG stockholders $ (1,351) $ 6,280 $ 4,603 Interest Expense 648 1,119 649 Income tax expense 1,874 2,41
Slide 18: Reconciliation of Adjusted Gross Profit by Segment
Reconciliation of Adjusted Gross Profit by Segment Fiscal quarter ended In $ thousands except margin data September 28, 2024 September 30, 2023 June 29, 2024 Sensors As reported - GAAP $ 8,730 $ 11,681 $ 11,066 As reported - GAAP Margins 31.0 % 35.9 % 38.3 % As Adjusted - Non GAAP $ 8,730 $ 11,681 $
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