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Yahoo
29-06-2025
- Business
- Yahoo
The 5 Most Interesting Analyst Questions From Shoals's Q1 Earnings Call
Shoals' first quarter results drew a significant positive response from the market, as management attributed the outperformance to strong bookings, the ramp-up of new products, and success in expanding its customer base. CEO Brandon Moss highlighted that "momentum continues with approximately $91 million in new orders," pointing to a healthy backlog and a book-to-bill ratio above 1.0. Despite a decline in revenue compared to the prior year, Shoals' leadership credited the performance to ongoing commercial initiatives, increased engagement with both new and returning customers, and meaningful traction in its battery energy storage solutions segment. Is now the time to buy SHLS? Find out in our full research report (it's free). Revenue: $80.36 million vs analyst estimates of $74.23 million (11.5% year-on-year decline, 8.3% beat) Adjusted EPS: $0.03 vs analyst estimates of $0.04 (in line) Adjusted EBITDA: $12.79 million vs analyst estimates of $12.16 million (15.9% margin, 5.2% beat) The company reconfirmed its revenue guidance for the full year of $430 million at the midpoint EBITDA guidance for the full year is $107.5 million at the midpoint, above analyst estimates of $103.8 million Operating Margin: 5.4%, down from 12.8% in the same quarter last year Backlog: $645.1 million at quarter end, up 4.9% year on year Market Capitalization: $814.1 million While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Michael Fairbanks (JPMorgan): asked about the evolving competitive landscape amidst tariffs. CEO Brandon Moss explained that while tariffs create some market shifts, most customer conversations focus on Shoals' quality and service rather than just domestic sourcing. Brian Lee (Goldman Sachs): questioned the timeframe for margin recovery and the drivers behind returning to 40%+ gross margins. CFO Dominic Bardos detailed the mix of operational efficiency, new product contributions, and targeted commercial strategies that should support margin improvement. Colin Rusch (Oppenheimer): inquired about international expansion and supply chain cost savings. Moss highlighted longer development timelines abroad but emphasized the similarities in product requirements, and noted ongoing automation and process initiatives to improve efficiency. Philip Shen (ROTH Capital Partners): asked about bookings velocity and the impact of tariffs on battery storage projects. Moss reported strong bookings and minimal current impact from tariffs, with storage growth driven by both market expansion and Shoals' low starting market share. Derek Soderberg (Cantor Fitzgerald): probed growth drivers in commercial and industrial (C&I) markets. Moss described increased quoting and bookings activity, driven by Shoals' solutions for projects with labor and supply chain constraints. Looking ahead, StockStory analysts will be watching (1) the pace of backlog conversion into revenue as project execution ramps up, (2) progress toward improved gross margins as operational initiatives take hold, and (3) traction in international and energy storage markets, particularly following new product launches and strategic partnerships. The impact of evolving trade policy and tariffs on Shoals' competitive positioning will also be a key area to monitor. Shoals currently trades at $4.89, up from $3.77 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
Yahoo
06-05-2025
- Business
- Yahoo
VPG Reports Fiscal 2025 First Quarter Results
The Sensors segment revenue of $27.1 million in the first fiscal quarter of 2025 decreased 8.0% from $29.4 million in the first fiscal quarter of 2024. Sequentially, revenue increased 5.1% compared to $25.8 million in the fourth fiscal quarter of 2024. The year-over-year decrease in revenues was primarily attributable to lower sales of precision resistors in the Test and Measurement and Other markets, and lower sales of strain gages in our Other markets. Sequentially, the increase primarily reflected higher sales of strain gages and precision resistors in the Test and Measurement market. The first fiscal quarter 2025 adjusted net earnings* were $0.5 million, or $0.04 per adjusted diluted net earnings per share*, compared to $5.7 million, or $0.42 per adjusted diluted net earnings per share* in the first fiscal quarter of 2024. The Company's first fiscal quarter 2025 net loss attributable to VPG stockholders was $0.9 million, or $0.07 per diluted share, compared to net earnings of $5.9 million, or $0.44 per diluted share, in the first fiscal quarter of 2024. Mr. Shoshani said: "Compared to the fourth quarter of 2024, we achieved comparable adjusted gross margin, adjusted operating margin, and EBITDA on lower revenue levels. Our strong balance sheet and cash flow provide us with a solid foundation to proactively implement our long-term growth and cost-efficiency strategies." Ziv Shoshani, Chief Executive Officer of VPG, commented, "Despite the continuing challenging business environment, we achieved the second consecutive quarter of book-to-bill over 1.00. Total orders of $74.4 million grew 2.7% sequentially and resulted in a book-to-bill of 1.04, as our Sensors and Measurement Systems reporting segments recorded book-to-bill ratios above 1.00. As the global economy faces increasing volatility due to rapidly changing tariff and trade policies, we believe our manufacturing footprint and strategy position us to navigate the direct impacts of these policies. We continue to focus on our business development growth initiatives, and are pleased with the progress thus far in our humanoid robot opportunities, among others." MALVERN, Pa., May 06, 2025 (GLOBE NEWSWIRE) -- Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, today announced its results for its fiscal 2025 first quarter ended March 29, 2025. Story Continues Gross profit margin for the Sensors segment was 30.1% for the first fiscal quarter of 2025. Gross profit margin decreased compared to 36.5% in the first fiscal quarter of 2024 and 32.0% in the fourth fiscal quarter of 2024. Adjusted for $0.2 million in start-up costs related to manufacturing consolidations, adjusted gross margin* was 30.8% in the first fiscal quarter of 2025. The year-over-year decrease in adjusted gross profit margin* was primarily due to lower volume, unfavorable foreign currency exchange rates, and inventory reduction. Sequentially, the lower adjusted gross profit margin* was primarily due to higher one-time fixed costs and unfavorable foreign currency exchange rates, which were partially offset by an increase in volume. The Weighing Solutions segment revenue of $26.4 million in the first fiscal quarter of 2025 decreased 8.3% compared to $28.8 million in the first fiscal quarter of 2024 and was 2.7% higher than $25.7 million in the fourth fiscal quarter of 2024. The year-over-year decrease in revenues was mainly attributable to lower sales in the Industrial Weighing and Transportation markets, as well as in our Other markets. Sequentially, the increase in revenues was primarily attributable to higher sales in the Transportation and General Industrial markets, which offset lower revenue in the Industrial Weighing and Other markets. Gross profit margin for the Weighing Solutions segment was 36.8% for the first fiscal quarter of 2025, which decreased compared to 39.1% in the first fiscal quarter of 2024 and increased from 34.1% in the fourth fiscal quarter of 2024. Adjusted for $0.3 million in start-up costs related to new product introductions, adjusted gross margin* was 37.8% in the first quarter of 2025. The year-over-year decrease in gross profit margin was primarily due to lower volume, partially offset by the effect of cost reduction programs. The sequential increase in gross profit margin primarily reflected higher sales and the effect of our cost reduction programs. The Measurement Systems segment revenue of $18.2 million in the first fiscal quarter of 2025 decreased 19.0% year-over-year from $22.5 million in the first fiscal quarter of 2024 and was 13.8% lower than $21.2 million in the fourth fiscal quarter of 2024. The year-over-year decrease was primarily attributable to decreased revenue in the Steel, AMS, and Other markets, which was partially offset by higher sales in the Transportation market. Sequentially, the decrease in revenue was primarily due to lower sales in the Steel market and lower sales of Diversified Technical Systems Inc. ("DTS") products in the Avionics, Military and Space market. Gross profit margin for the Measurement Systems segment was 50.3%, compared to 58.1% in the first fiscal quarter of 2024, and 50.9% in the fourth fiscal quarter of 2024. Adjusted gross margin* for the fourth fiscal quarter of 2024, after adjusting for purchasing accounting impacts related to Nokra acquisition, was 51.2%. The year-over-year decrease in adjusted gross profit margin* was primarily due to lower volume and unfavorable product mix. The sequentially lower adjusted gross profit margin* primarily reflected lower volume. Near-Term Outlook 'Given our backlog and the current market conditions, we expect net revenues to be in the range of $70 million to $76 million for the second fiscal quarter of 2025, at constant first fiscal quarter 2025 foreign currency exchange rates,' concluded Mr. Shoshani. *Use of Non-GAAP Financial Information: We define 'adjusted gross profit margin" as gross profit margin before purchase accounting adjustments related to the Nokra acquisition and start-up costs. We define "adjusted operating margin" as operating margin before purchase accounting adjustment related to the Nokra, DTS and DSI acquisitions, start-up costs, acquisition costs, and restructuring costs and severance costs. We define "adjusted net earnings' and "adjusted diluted net earnings per share" as net earnings attributable to VPG stockholders before purchase accounting adjustment related to the Nokra, DTS and DSI acquisitions, start-up costs, acquisition costs, restructuring costs and severance costs, foreign currency exchange gains and losses, and associated tax effects. We define "EBITDA" as earnings before interest, taxes, depreciation, and amortization. We define "Adjusted EBITDA" as earnings before interest, taxes, depreciation, and amortization before purchase accounting adjustment related to the Nokra, DTS and DSI acquisitions, start-up costs, acquisition costs, restructuring costs and severance costs, and foreign currency exchange gains and losses. "Adjusted free cash flow" for the first fiscal quarter of 2025 is defined as the amount of cash generated from operating activities ($5.3 million) in excess of capital expenditures ($1.5 million), net of proceeds, if any, from the sale of assets ($0.0 million). Management believes that these non-GAAP measures are useful to investors because each presents what management views as our core operating results for the relevant period. The adjustments to the applicable GAAP measures relate to occurrences or events that are outside of our core operations, and management believes that the use of these non-GAAP measures provides a consistent basis to evaluate our operating profitability and performance trends across comparable periods. These reconciling items are indicated on the accompanying reconciliation schedules and are more fully described in VPG's financial statements presented in our Annual Report on Form 10-K and Quarterly Reports on Forms 10-Q. Conference Call and Webcast: A conference call will be held on Tuesday, May 6, 2025 at 9:00 a.m. ET (8:00 a.m. CT). To access the conference call, interested parties may call 1-833-470-1428 or internationally +1-404-975-4839 and use passcode 131775, or log on to the investor relations page of the VPG website at A replay will be available approximately one hour after the completion of the call by calling toll-free 1-866-813-9403 or internationally 1-929-458-6194 and by using passcode 849827. The replay will also be available on the 'Events' page of investor relations section of the VPG website at About VPG: Vishay Precision Group, Inc. (VPG) is a leader in precision measurement and sensing technologies. Our sensors, weighing solutions and measurement systems optimize and enhance our customers' product performance across a broad array of markets to make our world safer, smarter, and more productive. To learn more, visit VPG at and follow us on LinkedIn. Forward-Looking Statements: From time to time, information provided by us, including, but not limited to, statements in this press release, or other statements made by or on our behalf, may contain or constitute "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from those anticipated. Such statements are based on current expectations only, and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, expected, estimated, or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions; significant developments from the recent and potential changes in tariffs and trade regulation; impact of inflation; potential issues respecting the United States federal government debt ceiling; global labor and supply chain challenges; difficulties or delays in identifying, negotiating and completing acquisitions and integrating acquired companies; the inability to realize anticipated synergies and expansion possibilities; difficulties in new product development; changes in competition and technology in the markets that we serve and the mix of our products required to address these changes; changes in foreign currency exchange rates; political, economic, and health (including pandemics) instabilities; instability caused by military hostilities in the regions or countries in which we operate (including Israel); difficulties in implementing our cost reduction strategies, such as underutilization of production facilities, labor unrest or legal challenges to our lay-off or termination plans, operation of redundant facilities due to difficulties in transferring production to achieve efficiencies; compliance issues under applicable laws, such as export control laws, including the outcome of our voluntary self-disclosure of export control non-compliance; our ability to execute our new corporate strategy and business continuity, operational and budget plans; and other factors affecting our operations, markets, products, services, and prices that are set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date of this report or as of the dates otherwise indicated in such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Contact: Steve Cantor Vishay Precision Group, Inc. 781-222-3516 info@ VISHAY PRECISION GROUP, INC. Consolidated Condensed Statements of Operations (Unaudited - In thousands, except per share amounts) Fiscal quarter ended March 29, 2025 March 30, 2024 Net revenues $ 71,741 $ 80,783 Costs of products sold 44,696 45,689 Gross profit 27,045 35,094 Gross profit margin 37.7 % 43.4 % Selling, general and administrative expenses 26,710 27,394 Restructuring costs 395 782 Operating (loss) income (60 ) 6,918 Operating margin (1.0) % 8.6 % Other (expense) income : Interest expense (550 ) (628 ) Other (677 ) 1,860 Other (expense) income (1,227 ) 1,232 (Loss) Income before taxes (1,287 ) 8,150 Income tax (benefit) expense (332 ) 2,318 Net (loss) earnings (955 ) 5,832 Less: net earnings attributable to noncontrolling interests (13 ) (59 ) Net (loss) earnings attributable to VPG stockholders $ (942 ) $ 5,891 Basic (loss) earnings per share attributable to VPG stockholders $ (0.07 ) $ 0.44 Diluted (loss) earnings per share attributable to VPG stockholders $ (0.07 ) $ 0.44 Weighted average shares outstanding - basic 13,257 13,405 Weighted average shares outstanding - diluted 13,257 13,468 VISHAY PRECISION GROUP, INC. Consolidated Condensed Balance Sheets (In thousands) March 29, 2025 December 31, 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 83,892 $ 79,272 Accounts receivable, net 50,241 51,200 Inventories: Raw materials 32,413 33,013 Work in process 29,444 27,187 Finished goods 22,079 23,960 Inventories, net 83,936 84,160 Prepaid expenses and other current assets 18,129 17,088 Assets held for sale 5,229 5,229 Total current assets 241,427 236,949 Property and equipment: Land 2,349 2,316 Buildings and improvements 77,690 68,125 Machinery and equipment 134,666 132,938 Software 10,434 10,351 Construction in progress 2,096 11,246 Accumulated depreciation (149,240 ) (145,475 ) Property and equipment, net 77,995 79,501 Goodwill 46,928 46,819 Intangible assets, net 40,908 41,815 Operating lease right-of-use assets 23,681 24,316 Other assets 22,902 21,535 Total assets $ 453,841 $ 450,935 VISHAY PRECISION GROUP, INC. Consolidated Condensed Balance Sheets (In thousands) March 29, 2025 December 31, 2024 (Unaudited) Liabilities and equity Current liabilities: Trade accounts payable $ 9,757 $ 9,890 Payroll and related expenses 18,219 18,546 Other accrued expenses 21,348 19,725 Income taxes 71 880 Current portion of operating lease liabilities 4,114 3,998 Total current liabilities 53,509 53,039 Long-term debt 31,479 31,441 Deferred income taxes 3,811 3,779 Operating lease liabilities 19,134 19,928 Other liabilities 14,099 14,193 Accrued pension and other postretirement costs 6,794 6,695 Total liabilities 128,826 129,075 Equity: Common stock 1,338 1,336 Class B convertible common stock 103 103 Treasury stock (25,335 ) (25,335 ) Capital in excess of par value 203,071 202,783 Retained earnings 191,035 191,977 Accumulated other comprehensive loss (45,224 ) (48,897 ) Total Vishay Precision Group, Inc. stockholders' equity 324,988 321,967 Noncontrolling interests 27 (107 ) Total equity 325,015 321,860 Total liabilities and equity $ 453,841 $ 450,935 VISHAY PRECISION GROUP, INC. Consolidated Condensed Statements of Cash Flows (Unaudited - In thousands) Three Fiscal Months Ended March 29, 2025 March 30, 2024 Operating activities Net (loss) earnings $ (955 ) $ 5,832 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 4,035 3,943 Loss (gain) on sale of property and equipment — (149 ) Share-based compensation expense 545 661 Inventory write-offs for obsolescence 800 582 Deferred income taxes (489 ) 44 Foreign currency impacts and other items 478 (2,253 ) Net changes in operating assets and liabilities: Accounts receivable 1,823 3,086 Inventories 227 (2,887 ) Prepaid expenses and other current assets (848 ) (1,766 ) Trade accounts payable 253 67 Other current liabilities 292 242 Other non-current assets and liabilities, net (841 ) (792 ) Accrued pension and other postretirement costs, net (71 ) (205 ) Net cash provided by operating activities 5,249 6,405 Investing activities Capital expenditures (1,507 ) (2,573 ) Proceeds from sale of property and equipment — 341 Net cash used in investing activities (1,507 ) (2,232 ) Financing activities Purchase of treasury stock — (2,755 ) Distributions to noncontrolling interests 147 (32 ) Payments of employee taxes on certain share-based arrangements (256 ) (858 ) Net cash used in financing activities (109 ) (3,645 ) Effect of exchange rate changes on cash and cash equivalents 987 (1,477 ) Increase (decrease) in cash and cash equivalents 4,620 (949 ) Cash and cash equivalents at beginning of period 79,272 83,965 Cash and cash equivalents at end of period $ 83,892 $ 83,016 Supplemental disclosure of investing transactions: Capital expenditures accrued but not yet paid $ 454 $ 1,480 Supplemental disclosure of financing transactions: Excise tax on net share repurchases accrued but not yet paid $ — 15 VISHAY PRECISION GROUP, INC. Reconciliation of Consolidated Adjusted Gross Profit, Operating Income, Net Earnings Attributable to VPG Stockholders and Diluted Earnings Per Share (Unaudited - In thousands) Gross Profit Operating Income Net (Loss) Earnings Attributable to VPG Stockholders Diluted (Loss) Earnings Per share Three months ended March 29, 2025 March 30, 2024 March 29, 2025 March 30, 2024 March 29, 2025 March 30, 2024 March 29, 2025 March 30, 2024 As reported - GAAP $ 27,045 $ 35,094 $ (60 ) $ 6,918 $ (942 ) $ 5,891 $ (0.07 ) $ 0.44 As reported - GAAP Margins 37.7 % 43.4 % (0.1) % 8.6 % Start-up costs 463 — 463 — 463 — 0.03 — Restructuring costs — — 395 782 395 782 0.03 0.06 Severance cost — — — 347 — 347 — 0.03 Foreign currency exchange gain (loss) — — — — 972 (1,589 ) 0.07 (0.12 ) Less: Tax effect of reconciling items and discrete tax items — — — — 420 (238 ) 0.03 (0.01 ) As Adjusted - Non GAAP $ 27,508 $ 35,094 $ 798 $ 8,047 $ 468 $ 5,669 $ 0.04 $ 0.42 As Adjusted - Non GAAP Margins 38.3 % 43.4 % 1.1 % 10.0 % VISHAY PRECISION GROUP, INC. Reconciliation of Adjusted Gross Profit by segment (Unaudited - In thousands) Fiscal quarter ended March 29, 2025 March 30, 2024 December 31, 2024 Sensors As reported - GAAP $ 8,146 $ 10,732 $ 8,229 As reported - GAAP Margins 30.1 % 36.5 % 32.0 % Start-up costs 187 — — As Adjusted - Non GAAP $ 8,333 $ 10,732 $ 8,229 As Adjusted - Non GAAP Margins 30.8 % 36.5 % 32.0 % Weighing Solutions As reported - GAAP $ 9,717 $ 11,266 $ 8,778 As reported - GAAP Margins 36.8 % 39.1 % 34.1 % Start-up costs 276 — — As Adjusted - Non GAAP $ 9,993 $ 11,266 $ 8,778 As Adjusted - Non GAAP Margins 37.8 % 39.1 % 34.1 % Measurement Systems As reported - GAAP $ 9,182 $ 13,094 $ 10,764 As reported - GAAP Margins 50.3 % 58.1 % 50.9 % Acquisition purchase accounting adjustments — — 79 As Adjusted - Non GAAP $ 9,182 $ 13,094 $ 10,843 As Adjusted - Non GAAP Margins 50.3 % 58.1 % 51.2 % VISHAY PRECISION GROUP, INC. Reconciliation of Adjusted EBITDA (Unaudited - In thousands) Fiscal quarter ended March 29, 2025 March 30, 2024 December 31, 2024 Net (loss) earnings attributable to VPG stockholders $ (942 ) $ 5,891 $ 768 Interest Expense 550 628 587 Income tax (benefit) expense (332 ) 2,318 1,222 Depreciation 3,056 3,016 3,026 Amortization 979 927 1,007 EBITDA 3,311 $ 12,780 $ 6,610 EBITDA MARGIN 4.6 % 15.8 % 9.1 % Impairment of goodwill and indefinite-lived intangibles — — — Acquisition purchase accounting adjustments — — 79 Acquisition costs — — 101 Restructuring costs 395 782 198 Severance cost — 347 — Start-up costs 463 — — Foreign currency exchange gain (loss) 972 (1,589 ) (1,913 ) ADJUSTED EBITDA $ 5,141 $ 12,320 $ 5,075 ADJUSTED EBITDA MARGIN 7.2 % 15.3 % 7.0 %
