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Get filing alertsVishay reports Q1 revenue $839M, guides Q2 up 6% on strong 1.34 book-to-bill
Filed May 13, 2026 · Period ending May 13, 2026 · ~1 min read
Key Changes
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Q1 2026 revenues $839.2M with gross margin 21.0% and EPS $0.05; operating margin 2.6% on $22.1M operating income, returning to profitability after prior-year loss.
Exhibit 99.1 view on EDGAR → -
high
Book-to-bill ratio 1.34 (semiconductors 1.47, passives 1.23) with 5.7-month backlog signals healthy demand; orders exceeded shipments by 34%.
Exhibit 99.1 view on EDGAR → -
high
Q2 2026 guidance: revenues $875M-$905M (midpoint up 6% sequentially) and gross margin 21.5%-22.5% (up 100 bps from Q1), reflecting expected sequential improvement.
Exhibit 99.1 view on EDGAR → -
medium
Capex $110.7M exceeded operating cash flow $63.7M, producing negative free cash flow of $46.9M as company invests in capacity expansion for high-margin products.
Exhibit 99.1 view on EDGAR → -
medium
CEO states Vishay 3.0 strategy delivering results through capacity expansion; priority is increasing backlog turns to maintain competitive lead times as demand accelerates.
Exhibit 99.1 view on EDGAR →
Summary
Vishay reported first quarter 2026 revenues of $839.2 million with a 21.0% gross margin and $0.05 diluted EPS, returning to profitability with $22.1 million in operating income. The company's 1.34 book-to-bill ratio—with semiconductors at 1.47 and passive components at 1.23—indicates orders are running 34% ahead of shipments, supported by a 5.7-month backlog that provides forward visibility into demand. Management guided second quarter revenues to $875-$905 million (6% sequential growth at midpoint) with gross margin expanding to 21.5%-22.5%, up 100 basis points from Q1.
The company invested $110.7 million in capex during the quarter, exceeding operating cash flow and producing negative free cash flow of $46.9 million as it expands capacity for high-growth, high-margin products under its Vishay 3.0 strategy. CEO Joel Smejkal emphasized the strategy is working and the priority is increasing backlog turns to maintain competitive lead times as consumption accelerates. Retail holders should watch whether the sequential revenue and margin improvements materialize in Q2 results and whether the elevated capex translates into sustained margin expansion as new capacity comes online.
Section-by-Section Diff
Event · Exhibit 99.1
Vishay reported Q1 2026 results: revenues $839.2M, gross margin 21.0%, EPS $0.05, book-to-bill 1.34, and guided Q2 revenues $875M-$905M.
Added in current filing · view on EDGAR →
For the second quarter of 2026, management expects revenues in the range of $875 million and $905 million and a gross profit margin in the range of 22.0% +/- 50 basis points.
Management guided second quarter 2026 revenues to $875-$905 million (midpoint $890 million, up 6% sequentially from Q1's $839 million) with gross margin of 21.5%-22.5% (midpoint 22.0%, up 100 basis points from Q1's 21.0%). This guidance reflects expected sequential improvement in both revenue and profitability.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 9, 2026 · How we verify