Highlights
3Q 2025 revenues of $790.6 million
Gross margin was 19.5% and included the negative impact of approximately 150 basis points related to Newport
3Q 2025 GAAP loss per share of $(0.06)
3Q 2025 Adjusted EPS of $0.04
3Q 2025 book-to-bill of 0.97 with book-to-bill of 0.96 for semiconductors and 0.98 for passive components
Backlog at quarter end was 4.4 months
"Our third quarter revenue growth demonstrates Vishay's alignment with high growth markets including smart grid infrastructure, AI related power requirements, automotive and aerospace/defense while the market overall continues to gradually recover," said Joel Smejkal, president and CEO. "The heavy investments in capacity expansion we have made over the past three years are enabling Vishay to capitalize on market upcycles in these high growth markets, reliably meeting quick turn delivery requirements while maintaining competitive lead times."
4Q 2025 OutlookFor the fourth quarter of 2025, management expects revenues in the range of $790 million +/- $20 million and a gross profit margin in the range of 19.5% +/- 50 basis points, including the negative impact of approximately 150 to 175 basis points related to Newport.
Conference CallA conference call to discuss Vishay's third quarter financial results is scheduled for Wednesday, November 5, 2025 at 9:00 a.m. ET. To participate in the live conference call, please pre-register at:https://register.vevent.com/register/BI273cd003b1924d1d8b000945bd9f4ade.Upon registering, you will be emailed a dial-in number, and unique PIN.
A live audio webcast of the conference call and a PDF copy of the press release and the quarterly presentation will be accessible directly from the Investor Relations section of the Vishay website at http://ir.vishay.com.
There will be a replay of the conference call available on the Investor Relations website approximately one hour following the call and will remain available for 30 days.
About VishayVishay manufactures one of the world's largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Serving customers worldwide, Vishay is The DNA of tech. ® Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on Vishay at www.Vishay.com.
This press release includes certain financial measures which are not recognized in accordance with U.S. generally accepted accounting principles ("GAAP"), including adjusted net earnings; adjusted earnings per share; adjusted gross margin; adjusted operating margin; free cash; earnings before interest, taxes, depreciation and amortization ("EBITDA"); adjusted EBITDA; and adjusted EBITDA margin; which are considered "non-GAAP financial measures" under the U.S. Securities and Exchange Commission rules. These non-GAAP measures supplement our GAAP measures of performance or liquidity and should not be viewed as an alternative to GAAP measures of performance or liquidity. Non-GAAP measures such as adjusted net earnings, adjusted earnings per share, adjusted gross margin, adjusted operating margin, free cash, EBITDA, adjusted EBITDA, and adjusted EBITDA margin do not have uniform definitions. These measures, as calculated by Vishay, may not be comparable to similarly titled measures used by other companies. Management believes that such measures are meaningful to investors because they provide insight with respect to intrinsic operating results of the Company. Although the terms "free cash" and "EBITDA" are not defined in GAAP, the measures are derived using various line items measured in accordance with GAAP. Reconciling items to arrive at adjusted net earnings represent significant charges or credits that are important to understanding the Company's intrinsic operations. Reconciling items to calculate adjusted gross margin, adjusted operating margin and adjusted EBITDA represent those same items used in computing adjusted net earnings, as relevant. Furthermore, the presented calculation of adjusted EBITDA is substantially similar to, but not identical to, a measure used in the calculation of financial ratios required for covenant compliance under Vishay's revolving credit facility. These reconciling items are indicated on the accompanying reconciliation schedules and are more fully described in the Company's financial statements presented in its annual report on Form 10-K and its quarterly reports presented on Forms 10-Q.
Statements contained herein that relate to the Company's future performance, including forecasted revenues and margins, capital investment, capacity expansion, stockholder returns, and the performance of the economy in general, are forward-looking statements within the safe harbor provisions of Private Securities Litigation Reform Act of 1995. Words and expressions such as "guide," "will," "expect," "anticipate," "committed" or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance, or achievements may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions; manufacturing or supply chain interruptions or changes in customer demand; delays or difficulties in implementing our cost reduction strategies; delays or difficulties in expanding our manufacturing capacities; an inability to attract and retain highly qualified personnel; changes in foreign currency exchange rates; uncertainty related to the effects of changes in foreign currency exchange rates; competition and technological changes in our industries; difficulties in new product development; difficulties in identifying suitable acquisition candidates, consummating a transaction on terms which we consider acceptable, and integration and performance of acquired businesses; changes in U.S. and foreign trade regulations and tariffs, and uncertainty regarding the same; changes in applicable domestic and foreign tax regulations, and uncertainty regarding the same; changes in applicable accounting standards and other factors affecting our operations that are set forth in our filings with the Securities and Exchange Commission, including our annual reports on Form 10-K and our quarterly reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The DNA of tech® is a trademark of Vishay Intertechnology.
Contact:Vishay Intertechnology, Inc.Peter HenriciExecutive Vice President, Corporate Development+1-610-644-1300
VISHAY INTERTECHNOLOGY, INC.
Summary of Operations
(Unaudited - In thousands, except per share amounts)
Fiscal quarters ended
September 27, 2025
June 28, 2025
September 28, 2024
Net revenues
$
790,640
$
762,250
$
735,353
Costs of products sold
636,781
613,567
584,470
Gross profit
153,859
148,683
150,883
Gross margin
19.5
%
19.5
%
20.5
%
Selling, general, and administrative expenses*
134,712
126,565
128,545
Restructuring and severance costs
-
-
40,614
Operating income (loss)
19,147
22,118
(18,276
)
Operating margin
2.4
%
2.9
%
-2.5
%
Other income (expense):
Interest expense
(9,525
)
(10,588
)
(6,596
)
Other
2,265
747
803
Total other income (expense) - net
(7,260
)
(9,841
)
(5,793
)
Income (loss) before taxes
11,887
12,277
(24,069
)
Income tax expense (benefit)
19,763
10,273
(5,076
)
Net earnings (loss)
(7,876
)
2,004
(18,993
)
Less: net earnings attributable to noncontrolling interests
-
-
306
Net earnings (loss) attributable to Vishay stockholders
$
(7,876
)
$
2,004
$
(19,299
)
Basic earnings (loss) per share attributable to Vishay stockholders
$
(0.06
)
$
0.01
$
(0.14
)
Diluted earnings (loss) per share attributable to Vishay stockholders
$
(0.06
)
$
0.01
$
(0.14
)
Weighted average shares outstanding - basic
135,720
135,702
136,793
Weighted average shares outstanding - diluted
135,720
136,167
136,793
Cash dividends per share
$
0.10
$
0.10
$
0.10
* Selling, general, and administrative expenses for the fiscal quarter ended June 28, 2025 include a ($11,293) benefit recognized upon the favorable resolution of a contingency.
VISHAY INTERTECHNOLOGY, INC.
Summary of Operations
(Unaudited - In thousands, except per share amounts)
Nine fiscal months ended
September 27, 2025
September 28, 2024
Net revenues
$
2,268,126
$
2,222,871
Costs of products sold
1,830,030
1,738,711
Gross profit
438,096
484,160
Gross margin
19.3
%
21.8
%
Selling, general, and administrative expenses*
396,016
381,234
Restructuring and severance costs
-
40,614
Operating income
42,080
62,312
Operating margin
1.9
%
2.8
%
Other income (expense):
Interest expense
(28,903
)
(19,749
)
Other
6,759
13,901
Total other income (expense) - net
(22,144
)
(5,848
)
Income before taxes
19,936
56,464
Income tax expense
29,900
20,134
Net earnings (loss)
(9,964
)
36,330
Less: net earnings attributable to noncontrolling interests
-
1,172
Net earnings (loss) attributable to Vishay stockholders
$
(9,964
)
$
35,158
Basic earnings (loss) per share attributable to Vishay stockholders
$
(0.07
)
$
0.26
