Universal Display (OLED) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Universal Display Corp. (OLED) reported $165.26 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 26.7%. EPS of $1.19 for the same period compares to $0.83 a year ago.

The reported revenue represents a surprise of +13.05% over the Zacks Consensus Estimate of $146.18 million. With the consensus EPS estimate being $1.05, the EPS surprise was +13.33%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Universal Display performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Material sales: $93.28 million versus the three-analyst average estimate of $83.66 million. The reported number represents a year-over-year change of +32.9%.
  • Revenues- Contract research services: $3.71 million versus $3.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -26.8% change.
  • Revenues- Royalty and license fees: $68.27 million versus the three-analyst average estimate of $60.25 million. The reported number represents a year-over-year change of +23.7%.
View all Key Company Metrics for Universal Display here>>>

Shares of Universal Display have returned -7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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