VSH 8-K
Vishay Intertechnology Inc (VSH)
8-K
2026-08-05
For: 2026-08-05
View Original
Added on
August 05, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
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(Former name or former address, if changed since last report.)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
| | Emerging growth company | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of exchange on which registered |
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Item 2.02 – Results of
Operations and Financial Condition
On
August 5, 2026, Vishay Intertechnology, Inc. ("the Company") issued
a press release announcing its financial results for the fiscal quarter and
six fiscal months ended July 4, 2026. A copy of the press release is
attached as Exhibit 99.1 to this report.
Item 7.01 – Regulation FD
Disclosure
Computational Guidance on
Earnings Per Share Estimates
The
Company frequently receives questions from analysts and stockholders regarding
its diluted earnings per share ("EPS") computation. The
information furnished in this Form 8-K provides additional information on the
impact of key variables on the EPS computation, particularly as they relate to
the third fiscal quarter of 2026.
Accounting
principles require that EPS be computed based on the weighted average shares
outstanding ("basic"), and also assuming the issuance of potentially
issuable shares (such as those subject to equity awards and convertible debt)
if those potentially issuable shares would reduce EPS ("diluted").
The
number of shares related to equity awards included in diluted EPS is based on
the "Treasury Stock Method" prescribed in Financial Accounting
Standards Board ("FASB") ASC Topic 260, Earnings Per Share
("FASB ASC Topic 260"). This method assumes a theoretical
repurchase of shares using the unrecognized compensation expense and any other
proceeds at a price equal to the issuer's average stock price during the
related earnings period. Accordingly, the number of shares
includable in the calculation of diluted EPS in respect of equity awards is
dependent on this average stock price and will increase as the average stock
price increases. This method is also utilized for net share settlement
debt.
The
number of shares includable in the calculation of diluted EPS in respect of
conventional convertible or exchangeable securities is based on the "If
Converted Method" prescribed in FASB ASC Topic 260. This method
assumes the conversion or exchange of these securities for shares of common
stock.
Pursuant to the indenture governing the senior convertible notes due 2030 (the "2030 Notes"), Vishay is required to pay the principal amount of the senior convertible debt instruments in cash. Vishay, at its option, will settle any additional value in cash, common stock, or a combination of both.
The 2030 Notes will be included in the diluted EPS computation using the "If Converted Method," but with no adjustment for interest expense.
The following estimates of shares expected to be used in the calculation of diluted EPS consider the number of the Company's shares currently outstanding and the Company's convertible securities currently outstanding and their exercise and conversion features currently in effect. The Company adjusts its calculation for the estimated effect of expected quarterly activity. The estimates assume no share or convertible debt instrument repurchases during the third fiscal quarter of 2026. Changes in these parameters or estimates could have a material impact on the calculation of diluted EPS.
The following
estimates of shares expected to be used in the calculation of diluted EPS
should be read in conjunction with the information on earnings per share in the
Company's filings on Form 10-Q and Form 10-K. These estimates are
unaudited and are not necessarily indicative of the shares used in the diluted
EPS computation for any prior period. The estimates below are not
necessarily indicative of the shares to be used in the quarterly diluted EPS
computation for any period subsequent to the third fiscal quarter of
2026. The Company assumes no duty to revise these estimates as a result
of changes in the parameters on which they are based or any changes in
accounting principles. Also, the presentation is not intended as a
forecast of EPS values or share prices of the Company's common stock for any
period.
For the third fiscal quarter of
2026:
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•
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The
Company has approximately 153 million shares issued and outstanding, including
shares of common stock and class B common stock.
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•
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The
number of shares included in diluted EPS related to restricted stock units
does not vary significantly and is generally less than 5 million incremental
shares.
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•
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The
Company's Convertible Senior Notes due 2030 are convertible at a conversion
price of $30.16 per $1,000 principal amount, equivalent to 33.1609 shares per
$1,000 principal amount. There is $750 million principal amount of
the notes outstanding. The number of shares of common stock that Vishay will
include in its diluted earnings per share computation, assuming an average
market price for Vishay common stock in excess of the conversion price, will
be determined in accordance with the following formula:
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S = [$750,000,000 / $1000] * [(P - $30.16) * 33.1609] / P
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where
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S =
the number of shares to be included in diluted EPS, and
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P =
the average market price of Vishay common stock for the quarter.
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If
the average market price is less than $30.16, no shares will be included in
the diluted earnings per share computation.
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Accordingly, the
following table summarizes the approximate number of shares to be included in
the denominator of the diluted EPS calculation assuming net earnings
attributable to Vishay stockholders for various average stock prices (number
of shares in millions):
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Average Stock Price
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Projected Diluted Shares
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$
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<30.16
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157
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| $ | 35.00 | 161 | ||||||
| $ | 40.00 | 164 | ||||||
| $ | 45.00 | 166 | ||||||
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$
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50.00
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168
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$
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55.00
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169
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| $ | 60.00 | 170 | ||||||
| $ | 65.00 | 171 | ||||||
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | ||
| 99.1 |
Press release dated August 5, 2026. |
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| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Date: August 5, 2026
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VISHAY INTERTECHNOLOGY, INC.
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By:
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/s/ David L. Tomlinson |
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Name:
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David L. Tomlinson
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Title:
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Senior Vice President – Chief Accounting Officer
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Exhibit 99.1
Vishay Intertechnology Reports Second Quarter
2026 Results
Malvern, PA, August 5, 2026 –
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 second quarter ended July 4, 2026.
Highlights
- 2Q 2026 GAAP revenues of $888.6 million; adjusted revenues of $918.6 million
- GAAP revenues reduced by $30.0 million of tariff refunds passed through to customers, with no impact on gross profit
- Gross margin was 23.3%; adjusted gross margin was 22.6%
- Operating margin was 6.0%; adjusted operating margin was 5.8%
- 2Q 2026 diluted EPS of $0.19
- 2Q 2026 book-to-bill of 1.32 with book-to-bill of 1.23 for semiconductors and 1.40 for passive components
- Backlog at quarter end was 6.1 months
“For the second quarter, Vishay delivered 9.5%
sequential growth to adjusted revenue of $919 million, exceeding the top end of
our revenue guidance and representing continued strengthening demand across all
end markets, channels and regions,” said Joel Smejkel, president and CEO. “Executing
as a new company, Vishay 3.0 is focused on supplying our increasing customer
count and taking full advantage of the upcycle, outpacing industry growth, while
laying the foundation to leverage multi-year demand across all end markets for
sustained growth, expanded margins and enhanced stockholder returns.”
3Q 2026 Outlook
For
the third quarter of 2026, management expects revenues in the range of $945 million and $975 million and a gross profit margin in the range of 24.0% +/- 50
basis points.
Conference Call
A conference call to discuss
Vishay’s second quarter financial results is scheduled for
Wednesday, August 5, 2026, at 9:00 a.m.
ET. To participate in the live conference call, please pre-register
here. 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 Vishay
Vishay
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 healthcare 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 net revenues; 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 net revenues, 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 and financial trends 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 net revenues, 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,
capacity expansion, multi-year customer demand, 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 “will,” “expect,” “going forward” 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; volatility in prices for metals and materials; 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 Henrici
Executive Vice President, Corporate Development
+1-610-644-1300
Peter Henrici
Executive Vice President, Corporate Development
+1-610-644-1300
| VISHAY INTERTECHNOLOGY, INC. | ||||||||||||||
| Summary of Operations | ||||||||||||||
| (Unaudited - In thousands, except per share amounts) | ||||||||||||||
| Fiscal quarters ended | ||||||||||||||
| July 4, 2026 | April 4, 2026 | June 28, 2025 | ||||||||||||
| Net revenues(a) | $ | 888,575 | $ | 839,242 | $ | 762,250 | ||||||||
| Costs of products sold(b) | 681,193 | 662,630 | 613,567 | |||||||||||
| Gross profit | 207,382 | 176,612 | 148,683 | |||||||||||
| Gross margin | 23.3 | % | 21.0 | % | 19.5 | % | ||||||||
| Selling, general, and administrative expenses(c) | 153,856 | 154,488 | 126,565 | |||||||||||
| Operating income | 53,526 | 22,124 | 22,118 | |||||||||||
| Operating margin | 6.0 | % | 2.6 | % | 2.9 | % | ||||||||
| Other income (expense): | ||||||||||||||
| Interest expense | (10,333 | ) | (9,973 | ) | (10,588 | ) | ||||||||
| Other | (794 | ) | 701 | 747 | ||||||||||
| Total other income (expense) - net | (11,127 | ) | (9,272 | ) | (9,841 | ) | ||||||||
| Income before taxes | 42,399 | 12,852 | 12,277 | |||||||||||
| Income tax expense | 14,275 | 5,688 | 10,273 | |||||||||||
| Net earnings | $ | 28,124 | $ | 7,164 | $ | 2,004 | ||||||||
| Basic earnings per share | $ | 0.21 | $ | 0.05 | $ | 0.01 | ||||||||
| Diluted earnings per share | $ | 0.19 | $ | 0.05 | $ | 0.01 | ||||||||
| Weighted average shares outstanding - basic | 136,824 | 136,045 | 135,702 | |||||||||||
| Weighted average shares outstanding - diluted | 147,901 | 137,471 | 136,167 | |||||||||||
| Cash dividends per share | $ | 0.10 | $ | 0.10 | $ | 0.10 | ||||||||
| (a) Net revenues for the fiscal quarter ended July 4, 2026 are reduced by ($30,008) for tariff refunds passed through to customers, with no impact on gross profit. | ||||||||||||||
| (b) Costs of product sold for the fiscal quarter ended July 4, 2026 are reduced by ($30,008) for tariff refunds received from the U.S. government, with no impact on gross profit. | ||||||||||||||
| (c) 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) | |||||||||
| Six fiscal months ended | |||||||||
| July 4, 2026 | June 28, 2025 | ||||||||
| Net revenues(d) | $ | 1,727,817 | $ | 1,477,486 | |||||
| Costs of products sold(e) | 1,343,823 | 1,193,249 | |||||||
| Gross profit | 383,994 | 284,237 | |||||||
| Gross margin | 22.2 | % | 19.2 | % | |||||
| Selling, general, and administrative expenses(f) | 308,344 | 261,304 | |||||||
| Operating income | 75,650 | 22,933 | |||||||
| Operating margin | 4.4 | % | 1.6 | % | |||||
| Other income (expense): | |||||||||
| Interest expense | (20,306 | ) | (19,378 | ) | |||||
| Other | (93 | ) | 4,494 | ||||||
| Total other income (expense) - net | (20,399 | ) | (14,884 | ) | |||||
| Income before taxes | 55,251 | 8,049 | |||||||
| Income tax expense | 19,963 | 10,137 | |||||||
| Net earnings (loss) | $ | 35,288 | $ | (2,088 | ) | ||||
| Basic earnings (loss) per share attributable to Vishay stockholders | $ | 0.26 | $ | (0.02 | ) | ||||
| Diluted earnings (loss) per share attributable to Vishay stockholders | $ | 0.25 | $ | (0.02 | ) | ||||
| Weighted average shares outstanding - basic | 136,428 | 135,750 | |||||||
| Weighted average shares outstanding - diluted | 142,680 | 135,750 | |||||||
| Cash dividends per share | $ | 0.20 | $ | 0.20 | |||||
| (d) Net revenues for the six fiscal months ended July 4, 2026 are reduced by ($30,008) for tariff refunds passed through to customers, with no impact on gross profit. | |||||||||
| (e) Costs of product sold for the six fiscal months ended July 4, 2026 are reduced by ($30,008) for tariff refunds received from the U.S. government, with no impact on gross profit. | |||||||||
| (f) Selling, general, and administrative expenses for the six fiscal months ended June 28, 2025 include a ($11,293) benefit recognized upon the favorable resolution of a contingency. | |||||||||
| VISHAY INTERTECHNOLOGY, INC. | |||||||||
| Consolidated Condensed Balance Sheets | |||||||||
| (Unaudited - In thousands) | |||||||||
| July 4, 2026 | December 31, 2025 | ||||||||
| Assets | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 1,297,309 | $ | 514,966 | |||||
| Short-term investments | 5,263 | 265 | |||||||
| Accounts receivable, net | 393,373 | 381,802 | |||||||
| Inventories: | |||||||||
| Finished goods | 184,960 | 182,444 | |||||||
| Work in process | 360,965 | 331,347 | |||||||
| Raw materials | 261,186 | 245,412 | |||||||
| Total inventories | 807,111 | 759,203 | |||||||
| Prepaid expenses and other current assets | 221,811 | 231,004 | |||||||
| Total current assets | 2,724,867 | 1,887,240 | |||||||
| Property and equipment, at cost: | |||||||||
| Land | 85,711 | 86,399 | |||||||
| Buildings and improvements | 841,294 | 839,856 | |||||||
| Machinery and equipment | 3,505,644 | 3,477,884 | |||||||
| Construction in progress | 558,131 | 464,475 | |||||||
| Allowance for depreciation | (3,241,135 | ) | (3,195,455 | ) | |||||
| 1,749,645 | 1,673,159 | ||||||||
| Right of use assets | 122,630 | 119,746 | |||||||
| Deferred income taxes | 190,381 | 183,016 | |||||||
| Goodwill | 180,027 | 180,390 | |||||||
| Other intangible assets, net | 71,266 | 78,487 | |||||||
| Other assets | 117,550 | 112,122 | |||||||
| Total assets | $ | 5,156,366 | $ | 4,234,160 |
| VISHAY INTERTECHNOLOGY, INC. | |||||||||
| Consolidated Condensed Balance Sheets (continued) | |||||||||
| (Unaudited - In thousands) | |||||||||
| July 4, 2026 | December 31, 2025 | ||||||||
| Liabilities and equity | |||||||||
| Current liabilities: | |||||||||
| Trade accounts payable | $ | 237,482 | $ | 214,984 | |||||
| Payroll and related expenses | 179,479 | 164,114 | |||||||
| Lease liabilities | 28,241 | 26,546 | |||||||
| Other accrued expenses | 310,238 | 300,031 | |||||||
| Income taxes | 18,757 | 14,751 | |||||||
| Current portion of long-term debt | 737,744 | - | |||||||
| Total current liabilities | 1,511,941 | 720,426 | |||||||
| Long-term debt less current portion | 234,543 | 950,893 | |||||||
| Deferred income taxes | 97,488 | 96,818 | |||||||
| Long-term lease liabilities | 96,583 | 95,799 | |||||||
| Other liabilities | 136,668 | 109,228 | |||||||
| Accrued pension and other postretirement costs | 166,246 | 172,723 | |||||||
| Total liabilities | 2,243,469 | 2,145,887 | |||||||
| Equity: | |||||||||
| Vishay stockholders' equity | |||||||||
| Common stock | 14,129 | 12,351 | |||||||
| Class B convertible common stock | 1,210 | 1,210 | |||||||
| Capital in excess of par value | 1,945,629 | 1,101,086 | |||||||
| Retained earnings | 900,268 | 892,232 | |||||||
| Accumulated other comprehensive income | 51,661 | 81,394 | |||||||
| Total equity | 2,912,897 | 2,088,273 | |||||||
| Total liabilities and equity | $ | 5,156,366 | $ | 4,234,160 |
| VISHAY INTERTECHNOLOGY, INC. | |||||||||
| Consolidated Condensed Statements of Cash Flows | |||||||||
| (Unaudited - In thousands) | |||||||||
| Six fiscal months ended | |||||||||
| July 4, 2026 | June 28, 2025 | ||||||||
| Operating activities | |||||||||
| Net earnings (loss) | $ | 35,288 | $ | (2,088 | ) | ||||
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | |||||||||
| Depreciation and amortization | 114,328 | 109,743 | |||||||
| Loss on disposal of property and equipment | 24 | 73 | |||||||
| Inventory write-offs for obsolescence | 21,883 | 17,456 | |||||||
| Deferred income taxes | (6,069 | ) | (6,034 | ) | |||||
| Stock compensation expense | 20,056 | 11,736 | |||||||
| Other | 79 | (3,606 | ) | ||||||
| Change in U.S. transition tax liability | - | (47,027 | ) | ||||||
| Change in repatriation tax liability | (2,000 | ) | (9,375 | ) | |||||
| Changes in operating assets and liabilities | (14,561 | ) | (63,571 | ) | |||||
| Net cash provided by operating activities | 169,028 | 7,307 | |||||||
| Investing activities | |||||||||
| Capital expenditures | (205,862 | ) | (126,167 | ) | |||||
| Proceeds from sale of property and equipment | 221 | 494 | |||||||
| Purchase of short-term investments | (5,260 | ) | (28,481 | ) | |||||
| Maturity of short-term investments | 262 | 39,400 | |||||||
| Other investing activities | (381 | ) | (661 | ) | |||||
| Net cash used in investing activities | (211,020 | ) | (115,415 | ) | |||||
| Financing activities | |||||||||
| Proceeds from follow-on public offering, net of underwriting discounts and issuance costs | 830,250 | - | |||||||
| Principal payments on long-term debt | - | (41,911 | ) | ||||||
| Net proceeds on revolving credit facility | 19,000 | 49,000 | |||||||
| Dividends paid to common stockholders | (24,805 | ) | (24,700 | ) | |||||
| Dividends paid to Class B common stockholders | (2,419 | ) | (2,419 | ) | |||||
| Repurchase of common stock | - | (12,538 | ) | ||||||
| Cash withholding taxes paid when shares withheld for vested equity awards | (4,013 | ) | (3,957 | ) | |||||
| Other financing activities | 10,000 | 10,078 | |||||||
| Net cash provided by (used in) financing activities | 828,013 | (26,447 | ) | ||||||
| Effect of exchange rate changes on cash and cash equivalents | (3,678 | ) | 18,129 | ||||||
| Net increase (decrease) in cash and cash equivalents | 782,343 | (116,426 | ) | ||||||
| Cash and cash equivalents at beginning of period | 514,966 | 590,286 | |||||||
| Cash and cash equivalents at end of period | $ | 1,297,309 | $ | 473,860 | |||||
| VISHAY INTERTECHNOLOGY, INC. | |||||||||||||||||||
| Schedule of Adjusted Revenue, Gross Profit, and Gross Margin | |||||||||||||||||||
| (Unaudited - In thousands) | |||||||||||||||||||
| Fiscal quarter ended | Six fiscal months ended | ||||||||||||||||||
| July 4, 2026 | July 4, 2026 | ||||||||||||||||||
| GAAP | Adjusted(g) | GAAP | Adjusted(g) | ||||||||||||||||
| Net revenues | $ | 888,575 | $ | 918,583 | $ | 1,727,817 | $ | 1,757,825 | |||||||||||
| Gross profit | 207,382 | 207,382 | 383,994 | 383,994 | |||||||||||||||
| Gross margin | 23.3 | % | 22.6 | % | 22.2 | % | 21.8 | % | |||||||||||
| (g) Adjusted net revenues for the fiscal quarter and six fiscal months ended July 4, 2026 exclude $30,008 for tariff refunds passed through to customers, with no impact on gross profit. The tariff refunds are recognized as a reduction of Net revenues and Costs of products sold in the GAAP results. Adjusted gross margin is calculated using adjusted net revenues. | |||||||||||||||||||
| VISHAY INTERTECHNOLOGY, INC. | ||||||||||||||||||||||||
| Reconciliation of Adjusted Earnings Per Share | ||||||||||||||||||||||||
| (Unaudited - In thousands, except per share amounts) | ||||||||||||||||||||||||
| Fiscal quarters ended | Six fiscal months ended | |||||||||||||||||||||||
| July 4, 2026 | April 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | ||||||||||||||||||||
| Net earnings (loss) | $ | 28,124 | $ | 7,164 | $ | 2,004 | $ | 35,288 | $ | (2,088 | ) | |||||||||||||
| Reconciling items affecting net revenues: | ||||||||||||||||||||||||
| Tariff refunds passed through to customers | 30,008 | - | - | 30,008 | - | |||||||||||||||||||
| Other reconciling items affecting gross profit: | ||||||||||||||||||||||||
| Tariff refunds received from U.S. government | (30,008 | ) | - | - | (30,008 | ) | - | |||||||||||||||||
| Other reconciling items affecting operating income: | ||||||||||||||||||||||||
| Favorable resolution of contingency | - | - | (11,293 | ) | - | (11,293 | ) | |||||||||||||||||
| Adjusted net earnings (loss) | $ | 28,124 | $ | 7,164 | $ | (9,289 | ) | $ | 35,288 | $ | (13,381 | ) | ||||||||||||
| Adjusted weighted average diluted shares outstanding | 147,901 | 137,471 | 135,702 | 142,680 | 135,750 | |||||||||||||||||||
| Adjusted earnings (loss) per diluted share | $ | 0.19 | $ | 0.05 | $ | (0.07 | ) | $ | 0.25 | $ | (0.10 | ) | ||||||||||||
| VISHAY INTERTECHNOLOGY, INC. | ||||||||||||||||||||||||
| Reconciliation of Free Cash | ||||||||||||||||||||||||
| (Unaudited - In thousands) | ||||||||||||||||||||||||
| Fiscal quarters ended | Six fiscal months ended | |||||||||||||||||||||||
| July 4, 2026 | April 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | ||||||||||||||||||||
| Net cash provided by (used in) operating activities | $ | 105,359 | $ | 63,669 | $ | (8,791 | ) | $ | 169,028 | $ | 7,307 | |||||||||||||
| Proceeds from sale of property and equipment | 155 | 66 | 215 | 221 | 494 | |||||||||||||||||||
| Less: Capital expenditures | (95,201 | ) | (110,661 | ) | (64,598 | ) | (205,862 | ) | (126,167 | ) | ||||||||||||||
| Free cash | $ | 10,313 | $ | (46,926 | ) | $ | (73,174 | ) | $ | (36,613 | ) | $ | (118,366 | ) | ||||||||||
| VISHAY INTERTECHNOLOGY, INC. | ||||||||||||||||||||||||
| Reconciliation of EBITDA and Adjusted EBITDA | ||||||||||||||||||||||||
| (Unaudited - In thousands) | ||||||||||||||||||||||||
| Fiscal quarters ended | Six fiscal months ended | |||||||||||||||||||||||
| July 4, 2026 | April 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | ||||||||||||||||||||
| Net earnings (loss) | $ | 28,124 | $ | 7,164 | $ | 2,004 | $ | 35,288 | $ | (2,088 | ) | |||||||||||||
| Interest expense | 10,333 | 9,973 | 10,588 | 20,306 | 19,378 | |||||||||||||||||||
| Interest income | (4,088 | ) | (3,038 | ) | (4,023 | ) | (7,126 | ) | (7,900 | ) | ||||||||||||||
| Income taxes | 14,275 | 5,688 | 10,273 | 19,963 | 10,137 | |||||||||||||||||||
| Depreciation and amortization | 56,117 | 58,211 | 55,970 | 114,328 | 109,743 | |||||||||||||||||||
| EBITDA | $ | 104,761 | $ | 77,998 | $ | 74,812 | $ | 182,759 | $ | 129,270 | ||||||||||||||
| Reconciling items | ||||||||||||||||||||||||
| Tariff refunds passed through to customers | 30,008 | - | - | 30,008 | - | |||||||||||||||||||
| Tariff refunds received from U.S. government | (30,008 | ) | - | - | (30,008 | ) | - | |||||||||||||||||
| Favorable resolution of contingency | - | - | (11,293 | ) | - | (11,293 | ) | |||||||||||||||||
| Adjusted EBITDA | $ | 104,761 | $ | 77,998 | $ | 63,519 | $ | 182,759 | $ | 117,977 | ||||||||||||||
| Adjusted EBITDA margin(h) | 11.4 | % | 9.3 | % | 8.3 | % | 10.4 | % | 8.0 | % | ||||||||||||||
| (h) Adjusted EBITDA as a percentage of adjusted net revenues | ||||||||||||||||||||||||