Vishay Intertechnology-VSH Q4 Earnings Miss: Will Weak Results Drag the Stock Down?

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]