Core Viewpoint - The comparison between Universal Electronics (UEIC) and Rockwell Automation (ROK) indicates that UEIC is currently more attractive to value investors due to its stronger valuation metrics and Zacks Rank [1][3][7]. Valuation Metrics - UEIC has a forward P/E ratio of 14.56, significantly lower than ROK's forward P/E of 29.41, suggesting that UEIC is undervalued relative to ROK [5]. - The PEG ratio for UEIC is 0.97, indicating a favorable valuation when considering expected earnings growth, while ROK's PEG ratio stands at 2.89, suggesting it may be overvalued [5]. - UEIC's P/B ratio is 0.80, which is much lower than ROK's P/B ratio of 8.51, further highlighting UEIC's undervaluation [6]. Zacks Rank and Style Scores - UEIC holds a Zacks Rank of 2 (Buy), reflecting positive revisions to earnings estimates, while ROK has a Zacks Rank of 3 (Hold), indicating a less favorable outlook [3][7]. - The Value grade for UEIC is B, whereas ROK has a Value grade of D, reinforcing the notion that UEIC is a better option for value investors [6][7].

Financial Data and Key Metrics Changes - The company reported its Q3 2024 financial results, with specific metrics and performance indicators to be discussed in detail during the call [1][3]. Business Line Data and Key Metrics Changes - The management is expected to provide insights into various business lines, particularly focusing on design wins in connected home and home entertainment markets, including climate control and HVAC [6]. Market Data and Key Metrics Changes - The company aims to capture market opportunities through innovative solutions, which will be elaborated upon in the financial results presentation [6]. Company Strategy and Development Direction - The company is focusing on the development and delivery of unique solutions, particularly through its TIDE platform, to enhance its position in the connected home and home entertainment sectors [6]. Management Comments on Operating Environment and Future Outlook - Management will discuss forward-looking statements regarding the company's future financial performance and the potential impact of market conditions on its operations [5]. Other Important Information - The call includes a caution regarding forward-looking statements, indicating that actual results may differ from projections [5]. Q&A Session Summary Question: What are the expectations for design wins in the connected home market? - Management will address the company's strategy to continue capturing design wins in this sector, emphasizing innovative solutions [6].

Group 1: Earnings Performance - Universal Electronics reported quarterly earnings of $0.10 per share, missing the Zacks Consensus Estimate of $0.15 per share, but showing an improvement from $0.08 per share a year ago, resulting in an earnings surprise of -33.33% [1] - The company posted revenues of $102.07 million for the quarter ended September 2024, which was 0.48% below the Zacks Consensus Estimate and a decrease from $107.1 million year-over-year [2] - Over the last four quarters, Universal Electronics has surpassed consensus EPS estimates two times [2] Group 2: Stock Performance and Outlook - Universal Electronics shares have declined approximately 10.2% since the beginning of the year, contrasting with the S&P 500's gain of 24.3% [3] - The company's earnings outlook will be crucial for determining future stock movements, with current consensus EPS estimates for the coming quarter at $0.18 on revenues of $101.47 million, and for the current fiscal year at -$0.04 on revenues of $386.41 million [7] - The estimate revisions trend for Universal Electronics is mixed, currently resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Electronics - Miscellaneous Products industry, to which Universal Electronics belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Net sales for the three months ended September 30, 2024, were $102,073,000, a decrease of 4.8% compared to $107,095,000 for the same period in 2023[34]. - For the nine months ended September 30, 2024, net sales totaled $284,425,000, down 11.9% from $322,863,000 in the prior year[34]. - The company reported a net loss of $2.658 million for the three months ended September 30, 2024, compared to a net loss of $19.362 million for the same period in 2023[107]. - Basic earnings (loss) per share for the three months ended September 30, 2024, was $(0.20), compared to $(1.50) for the same period in 2023[107]. - Net loss for the nine months ended September 30, 2024, was $19.5 million, an improvement from a net loss of $91.1 million for the same period in 2023[156]. Cash and Liquidity - Total cash and cash equivalents decreased to $26,287,000 as of September 30, 2024, from $42,751,000 at December 31, 2023, representing a decline of 38.5%[33]. - Available borrowing resources decreased to $37.2 million as of September 30, 2024, from $70.0 million as of December 31, 2023[147]. - The U.S. Credit Line has a maximum availability of $100.0 million, with total availability of $65.6 million as of September 30, 2024, based on the accounts receivable coverage ratio[55]. - Outstanding borrowings under the U.S. Credit Line decreased from $55.0 million on December 31, 2023, to $37.0 million on September 30, 2024, a reduction of 32.7%[60]. - The interest rate on the U.S. Credit Line was 7.83% as of September 30, 2024, down from 8.06% on December 31, 2023[58]. Assets and Liabilities - Total long-lived tangible assets decreased from $63.3 million on December 31, 2023, to $52.7 million on September 30, 2024, representing a decline of approximately 16.8%[42]. - Total intangible assets, net, decreased from $46.4 million on December 31, 2023, to $44.6 million on September 30, 2024, a decline of approximately 3.9%[45]. - The allowance for credit losses increased to $841,000 as of September 30, 2024, from $815,000 at December 31, 2023, reflecting a slight increase in credit risk[37]. - Trade receivables, net, decreased from $104.84 million on December 31, 2023, to $100.94 million on September 30, 2024, reflecting a reduction of approximately 3.7%[37]. - Total accrued compensation as of September 30, 2024, was $20.6 million, slightly up from $20.3 million at December 31, 2023[71]. Expenses - Depreciation expense for the three months ended September 30, 2024, was $3.0 million, down from $4.6 million in the same period of 2023, indicating a reduction of 34.8%[43]. - R&D expenses decreased to $7.3 million for the three months ended September 30, 2024, from $7.7 million for the same period in 2023[131]. - SG&A expenses decreased slightly to $22.9 million for the three months ended September 30, 2024, from $23.1 million for the same period in 2023[132]. - Net interest expense decreased to $2.7 million for the nine months ended September 30, 2024, from $3.3 million for the same period in 2023, attributed to a lower average loan balance[142]. - Operating lease expense for the nine months ended September 30, 2024, was $5.2 million, compared to $5.5 million for the same period in 2023, reflecting a decrease of approximately 4.2%[51]. Restructuring and Legal Matters - The company incurred $4.2 million in factory restructuring charges since September 2023, with the restructuring plan expected to be completed in the second quarter of 2024[75]. - The company incurred $1.3 million of severance and $1.3 million of other exit costs related to downsizing its factory in Mexico[77]. - The company has ongoing settlement discussions regarding the Tongshun lawsuit, which has resulted in a stay of the hearing on this matter[92]. - The company expects total estimated restructuring charges of $2.6 million for the factory restructuring in Mexico, with $41.0 thousand expected to be recognized after September 30, 2024[77]. - The company is awaiting a decision from the U.S. Supreme Court regarding Roku's appeal related to patent infringement, with a response due by November 27, 2024[81]. Taxation - The company recorded an income tax expense of $6.0 million for the nine months ended September 30, 2024, compared to $3.4 million for the same period in 2023, reflecting a significant increase[66]. - The company's gross unrecognized tax benefits amounted to $3.5 million as of September 30, 2024, which includes interest and penalties[69]. - The company has provided a full valuation allowance on its U.S. federal and state deferred tax assets due to a three-year cumulative operating loss[68]. - Income tax expense for the three months ended September 30, 2024, was $2.5 million, compared to $3.3 million for the same period in 2023, a decrease of 24.2%[66]. - The company does not anticipate a decrease in unrecognized tax benefits within the next twelve months[69]. Shareholder Activities - The company repurchased a total of 201,000 shares in the nine months ended September 30, 2024, at a total cost of $1.896 million[96]. - The company has 778,362 shares available for repurchase under the October 2023 share repurchase program[95]. - As of September 30, 2024, the company granted 116 thousand non-vested performance stock awards with a weighted-average fair value of $4.72[100]. - Stock-based compensation expense for employees and directors totaled $5.015 million for the nine months ended September 30, 2024, compared to $6.833 million for the same period in 2023[98]. - The company expects to recognize $6.0 million of total unrecognized pre-tax stock-based compensation expense related to non-vested restricted stock awards[99].

Financial Performance - Third quarter 2024 GAAP net sales were $102.1 million, a decrease from $107.1 million in the same quarter of 2023[3] - GAAP gross margins improved to 30.1%, up from 19.1% year-over-year[3] - GAAP operating income was $0.4 million, compared to a loss of $14.0 million in Q3 2023[3] - GAAP net loss for Q3 2024 was $2.7 million, or $0.20 per share, significantly improved from a loss of $19.4 million, or $1.50 per share, in Q3 2023[3] - For the nine months ended September 30, 2024, GAAP net sales were $284.4 million, down from $322.9 million in the same period of 2023[4] - GAAP gross margins for the nine months increased to 29.1%, compared to 21.6% in 2023[4] - The company expects fourth quarter 2024 GAAP net sales to range from $99.0 million to $109.0 million, compared to $97.6 million in Q4 2023[5] - Adjusted Non-GAAP earnings per diluted share for Q4 2024 are expected to range from $0.10 to $0.20, compared to a loss of $0.04 in Q4 2023[6] - The company anticipates year-over-year growth in both top and bottom lines for Q4 2024 and full year 2025[2] Cash and Assets - Cash and cash equivalents as of September 30, 2024, were $26.3 million[3] - Total current assets decreased to $237,265,000 as of September 30, 2024, down from $258,851,000 as of December 31, 2023, a decline of 8.3%[17] - Total liabilities decreased to $160,069,000 as of September 30, 2024, down from $176,952,000 as of December 31, 2023, a reduction of 9.5%[17] - Cash and cash equivalents at the end of the period were $26,287,000, down from $42,751,000 at the beginning of the period, a decrease of 38.5%[20] Operating Activities - Net cash provided by operating activities for the nine months ended September 30, 2024, was $8,339,000, compared to $20,076,000 for the same period in 2023, a decrease of 58.6%[20] - Research and development expenses for the three months ended September 30, 2024, were $7,338,000, slightly down from $7,658,000 for the same period in 2023[18] - The company incurred factory restructuring charges of $104,000 in the three months ended September 30, 2024, compared to $3,690,000 in the same period in 2023[18] Loss and Earnings - The company reported a net loss of $19,500,000 for the nine months ended September 30, 2024, compared to a net loss of $91,136,000 for the same period in 2023, indicating an improvement[20] - Basic earnings per share for the nine months ended September 30, 2024, were $(1.51), compared to $(7.10) for the same period in 2023[19] - Adjusted Non-GAAP net income for Q3 2024 was $1,361,000, compared to a loss of $658,000 in Q3 2023[23] Future Expectations - The company expects Q4 2024 net sales to range between $99,000,000 and $109,000,000, compared to $97,594,000 in Q4 2023[26] - Diluted earnings per share (GAAP) for Q4 2024 are projected to be between $(0.27) and $(0.17)[26] - Adjusted Non-GAAP diluted earnings per share for Q4 2024 are expected to be between $0.10 and $0.20[26] Impairments and Adjustments - The company incurred a goodwill impairment charge of $49.1 million in 2023 due to market capitalization issues[25] - The three months ended December 31, 2024 and 2023 included adjustments for stock-based compensation expense and amortization of acquired intangibles[2] - Costs associated with certain litigation efforts and factory restructuring were also accounted for in the financial results[2] - Foreign currency gains and losses impacted the financial performance during the three months ended December 31, 2024 and 2023[2] - The three months ended December 31, 2023 included adjustments for severance costs[2]

Universal Electronics (UEIC) shares ended the last trading session 8.5% higher at $9.29. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.5% loss over the past four weeks. Universal Electronics is benefiting from expanding customer relationships and increasing design wins in the connected home and home entertainment markets. This remote control maker is expected to post quarterly earnings of $0.15 per share in its ...

Universal Electronics Inc. (NASDAQ:UEIC) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Kirsten Chapman - LHA Investor Relations Paul Arling - Chairman & Chief Executive Officer Bryan Hackworth - Chief Financial Officer Conference Call Participants Steven Frankel - Rosenblatt Securities Greg Burns - Sidoti Operator Good day, and thank you for standing by. Welcome to the Universal Electronics Second Quarter 2024 Financial Results Conference Call. At this time, all participant ...

Universal Electronics Inc. Q2 2024 Results as of June 30, 2024 reported on August 8, 2024 SAFE HARBOR STATEMENT This presentation contains "forward-looking statements" within the meaning of federal securities laws, including net sales, profit margin and earnings trends, estimates and assumptions; our expectations about new product introductions; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees ...

Universal Electronics (UEIC) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -125%. A quarter ago, it was expected that this remote control maker would post a loss of $0.24 per share when it actually produced a loss of $0.19, delivering a surprise of 20.83%. Over the last four quarters, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________ FORM 10-Q _______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ UNIV ...