Core Insights - Vishay Intertechnology, Inc. (VSH) reported breakeven non-GAAP earnings for Q4 2024, missing the Zacks Consensus Estimate of earnings of 11 cents [1] - Revenues of $714.72 million for VSH in Q4 2024 missed the Zacks Consensus Estimate by 0.73% and declined 9% year-over-year [2] - VSH's stock has underperformed, declining 15.3% over the past year compared to the S&P 500 index's return of 23.5% [2] Financial Performance - VSH's Q4 performance was negatively impacted by softness across its segments, including MOSFET, Diodes, Optoelectronics, Resistors, and Inductors [3] - MOSFET revenues were $146.6 million, down 12.8% year-over-year, accounting for 20.5% of total revenues [3] - Diodes revenues were $141.4 million, down 13.4% year-over-year, representing 19.8% of total revenues [3] - Optoelectronics revenues were $46.9 million, down 13% year-over-year, making up 6.6% of total revenues [4] - Resistors revenues were $177 million, down 10.6% year-over-year, constituting 24.8% of total revenues [4] - Inductors revenues were $83.4 million, down 5.1% year-over-year, accounting for 11.7% of total revenues [4] - Capacitors revenues increased by 4.6% year-over-year to $119.3 million, representing 16.7% of total revenues [5] - Adjusted EBITDA for Q4 was $66.21 million, down 48.1% year-over-year, with an adjusted EBITDA margin of 9.3% [5] Balance Sheet and Cash Flow - As of December 31, 2024, VSH's cash and cash equivalents were $590.3 million, down from $643.8 million as of September 30 [6] - Long-term debt increased to $905 million as of December 31, up from $820.8 million as of September 30 [6] - Net cash from operating activities was $173.7 million, while the company reported a negative free cash flow of $75.6 million during the quarter [6] Guidance - For Q1 2025, VSH expects revenues to be approximately $710 million (+/- $20 million), indicating a year-over-year decline of 5.5% [7] - The Zacks Consensus Estimate for Q1 earnings is 2 cents per share, reflecting a year-over-year decline of 91% [8]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $714.7 million, down slightly from Q3, with full-year revenue at $2.9 billion, below 2023 levels [6][31] - Book to bill ratio improved to 1.01% from 0.88% in Q3, with semiconductors at 0.99% and passives at 1.03% [7][33] - Gross profit was $142 million, resulting in a gross margin of 19.9%, impacted by lower average selling prices and a negative effect from Newport [34][39] - GAAP loss per share was $0.49 compared to a loss of $0.14 in Q3 [40] Business Line Data and Key Metrics Changes - Automotive revenue decreased by 6% compared to Q3, with demand affected by production volume decreases in Europe [11][12] - Industrial revenue decreased by $5 million or 2%, but order intake for smart grid projects remained positive [15] - Revenue from computing, consumer, and telecom markets increased by 3% quarter-over-quarter, driven by AI server demand [22] Market Data and Key Metrics Changes - Europe experienced an 8% revenue decline due to weak macroeconomic conditions, while Asia showed growth from smart grid and AI server projects [28][30] - Inventory levels in distribution remained stable at 27 weeks, with Asia showing 18.5 weeks and the Americas at 51.5 weeks [106] Company Strategy and Development Direction - The company is focused on a five-year strategic plan, emphasizing e-mobility and sustainability, and aims to increase capacity significantly by 2028 [9][72] - Plans to invest $2.6 billion in CapEx from 2023 to 2028, with $300 million to $350 million expected in 2025 [73] Management's Comments on Operating Environment and Future Outlook - Management noted a prolonged inventory digestion period and weak macroeconomic conditions, particularly in Europe, but expressed optimism about improving demand in 2025 [6][72] - The company is preparing for a potential market upturn, with positive signals from order intake and a favorable book to bill ratio [72][79] Other Important Information - A non-cash goodwill impairment charge of $66 million was recorded, affecting GAAP operating margin [36][38] - The company plans to maintain its dividend and opportunistically repurchase shares despite expected negative free cash flow in 2025 [53][126] Q&A Session Summary Question: AI server power revenue outlook - Management indicated initial volumes for AI were small in Q4, but they expect better performance in 2025 as demand increases [87][90] Question: Distributor inventory levels and pricing - Management stated that inventory levels are stable, with minimal idle stock, and pricing adjustments have been made to remain competitive [105][110] Question: CapEx and capacity coming online - The majority of the $300 million to $350 million CapEx will be allocated to fabs, including Newport and Itseo, with a focus on increasing capacity [115][120] Question: Capital allocation priorities - The company is committed to returning at least 70% of free cash flow to shareholders, maintaining dividends, and making opportunistic share repurchases [122][126] Question: Regional market dynamics - Management emphasized a focus on Asia due to strong performance, while also adjusting strategies in Europe to regain market share [130][135]

Allowing for Use Close to Electrical Motors, the RAIK060 Is Slimmer and Lighter Than Magnetic-Based Encoders, With Higher Rotational Speed and Lower Latency TimeMALVERN, Pa., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced a new high precision position sensor built on inductive technology for industrial and AMS applications. Compared to solutions based on magnetic technology, the Vishay MCB RAIK060 absolute inductive kit encoder offers a smaller thickness of 5 mm, ...

Vishay Intertechnology (VSH) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.11. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this chipmaker would post earnings of $0.15 per share when it actually produced earnings of $0.08, delivering a surprise of -46.67%.Over the last four quarters, the company has sur ...

4Q 2024 Earnings Conference Call February 5, 2025 © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. NOTES ON FORWARD-LOOKING STATEMENTS Comments in this presentation other than statements of historical fact may constitute forward-looking statements. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. Such statements are based on current expect ...

Exhibit 99.1 Vishay Intertechnology Reports Fiscal Fourth Quarter and Full Year 2024 Results Malvern, PA, February 5, 2025 – Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced results for the fiscal fourth quarter and year ended December 31, 2024. Highlights "Our fourth quarter results came in as expected, slightly below the third quarter. Nevertheless, we saw many promising indicators including a ...

40 A to 240 A Dual-Diode and Single Phase Bridge Devices Offer Low Forward Voltage Drop Down to 1.36 V and QC Down to 56 nCMALVERN, Pa., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced 16 new 650 V and 1200 V silicon carbide (SiC) Schottky diodes in the industry-standard SOT-227 package. Designed to deliver high speed and efficiency for high frequency applications, the Vishay Semiconductors devices offer the best trade-off between capacitive charge (QC) and forwar ...

Offered in Compact 3 mm x 4 mm x 4 mm Footprint, Space-Saving Devices Feature IP67 Sealing and High Temperature Operation to +150 °CMALVERN, Pa., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced a new series of multi-turn, surface-mount cermet trimmers. Designed for space-constrained industrial, consumer, and telecom applications in harsh environments, the TSM3 series devices combine a compact 3 mm by 4 mm by 4 mm footprint with a wide temperature range of -65 °C t ...

MALVERN, Pa., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc., (NYSE: VSH), will release its results for the fiscal fourth quarter ended December 31, 2024, before the New York Stock Exchange opens on Wednesday, February 5, 2025. A conference call to discuss Vishay’s fourth quarter financial results is scheduled for Wednesday, February 5, 2025 at 9:00 a.m. ET. To participate in the live conference call, please pre-register at https://register.vevent.com/register/BI8ebcbdf5aaea4c50833bdc15cc86f ...

Reducing Costs, New Devices Offer Smaller Package Sizes, Wider Value Ranges, and Improved PerformanceMALVERN, Pa., Jan. 06, 2025 (GLOBE NEWSWIRE) -- To simplify the sourcing process for its customers, Vishay Intertechnology, Inc. (NYSE: VSH) today announced that the company’s Inductors Division has expanded its frequency control line with new surface-mount crystals and oscillators designed to deliver smaller packages, wider value ranges, and improved performance — all while reducing costs. The new additions ...