Universal Display reports Q3 EPS $1.40, consensus $1.19

Reports Q3 revenue $161.6M, consensus $165.06M. “With strong year-to-date results, we are on track to achieve record revenues, earnings, and operating cash flow in 2024 as we continue our growth trajectory. The rate of growth this year, though, is expected to be more modest than previously projected. With recent updates to customer order expectations for the fourth quarter, we are lowering our 2024 revenue forecast range to $625 million to $645 million. We believe that 2024 marks the start of a new OLED adoption cycle for medium-sized displays, namely IT and automotive. With leading tablet, notebook, monitor, as well as auto OEMs expected to broaden their product roadmaps for OLEDs, significant investments in new OLED facilities are being deployed for these nascent market segments. As a leader in the OLED ecosystem, we are enabling and supporting this long runway of growth. Our world-class technology continues to set industry standards, our global partnerships continue to expand and deepen, and we continue to leverage our unparalleled expertise,” said Brian Millard, Vice President and Chief Financial Officer of Universal Display (OLED) Corporation.