UNIVERSAL DISPLAY CORP \PA\ (OLED) Company Report

Universal Display reported Q3 2025 revenue of $140 million, operating profit of $43 million, and net income of $44 million, or $0.92 per diluted share.
The company now expects full-year 2025 revenues to be around the lower end of its $650-$700 million guidance range , with Q4 2025 revenue projected to be a record quarter.
Universal Display announced a definitive agreement to acquire OLED patent assets from Merck KGaA for $50 million, with the transaction expected to close in January 2026.
Future growth is anticipated from rising OLED adoption in IT applications, with new Gen 8.6 OLED fabs slated to come online in 2026, and the expected commercialization of phosphorescent blue technology.

Nov 6, 2025, 10:00 PM

Transcript

Universal Display Corporation Announces Q3 2025 Financial Results, Revised Guidance, and Patent Acquisition

OLED

Earnings

Guidance Update

M&A

Universal Display Corporation reported total revenue of $139.6 million and net income of $44.0 million, or $0.92 per diluted share, for the third quarter ended September 30, 2025.
The company revised its 2025 revenue guidance, now expecting it to be around the lower end of its previous range of $650 million to $700 million.
Universal Display Corporation agreed to acquire OLED patent assets from Merck KGaA for a $50 million cash payment, with the transaction expected to close in January 2026.
A fourth quarter cash dividend of $0.45 per share was announced, payable on December 31, 2025.

Nov 6, 2025, 9:10 PM

8-K

Universal Display Discusses IT Market Growth, Blue PHOLED Progress, and Capital Allocation

OLED

New Projects/Investments

Share Buyback

Guidance Update

Universal Display anticipates significant growth in the IT market, with current OLED penetration at approximately 5% globally and key customers like Samsung, BOE, and Visionox announcing new CapEx plans for IT capacity. Tandem structures, frequently used in IT products, are expected to require 1.5 to 2 times more material consumption for UDC compared to single-layer structures.
LG's recent announcement of a display utilizing UDC's phosphorescent blue material in a hybrid tandem panel is a significant development, demonstrating a 15% reduction in energy consumption and representing an entirely new revenue stream for UDC. While the original timeline for commercial performance was 2024, challenges, particularly with lifetime characteristics, caused delays, and no new specific timeline for a standalone blue or all-phosphorescent RGB architecture has been provided.
The company's board authorized a $100 million share buyback in late April, which will be deployed opportunistically, complementing their historical dividend program as part of their capital allocation strategy that prioritizes organic R&D and M&A.
Universal Display is increasingly optimistic about the automotive market, where only about 1% of the 85 million new vehicles sold annually currently incorporate OLED products, indicating substantial growth potential through increased penetration and content per vehicle.

Aug 12, 2025, 4:05 PM

Universal Display Corp Reports Record Q2 2025 Performance, Raises Full-Year Revenue Guidance

OLED

Earnings

Guidance Update

New Projects/Investments

Universal Display reported record performance in the second quarter of 2025, with revenue of $172 million, net income of $67 million, and $1.41 per diluted share.
The company raised the low end of its 2025 revenue guidance range to $650 million to $700 million and expects 2025 operating margins to be at the upper end of their 35% to 40% guidance range.
The OLED market is experiencing robust growth, driven by expanding product adoption in consumer electronics and automotive markets, with OLED IT units forecasted to more than double to 48.6 million units in 2027 from 23 million units in 2024.
A major milestone was achieved with the verification of commercialization level performance of blue phosphorescent OLED panels on a mass production line by one of their customers.
Universal Display ended the quarter with approximately $932 million in cash, cash equivalents, and investments and approved a $0.45 quarterly dividend.

Aug 1, 2025, 9:11 PM

Universal Display Corp at Bank of America Global Technology Conference 2025

OLED

Dividends

Share Buyback

New Projects/Investments

IR Head Doris Liu, with 12 years at the company, provided insights on the OLED display market and UDC’s long history of innovation.
UDC discussed growth catalysts in OLED driven by investments in medium-sized panel production for smartphones, IT, and automotive, highlighting new fab capacities such as Samsung’s Gen 8.6 expected Q2 2026 and BOE’s Q4 2026 rollout.
The company detailed its dual revenue model, emphasizing long-term materials and IP licensing agreements with a 1.4:1 material-to-royalty ratio, and noted future opportunities with blue emitter technology.
UDC reaffirmed strong margin guidance (gross margins of 76%-77% and operating margins of 35%-40%), along with a commitment to shareholder returns via an ongoing dividend program and a $100 million buyback initiative.

Jun 4, 2025, 2:31 AM

Universal Display Corp Reports Q1 2025 Results, Dividend & Share Repurchase Program

OLED

Earnings

Dividends

Share Buyback

Q1 2025 Financial Performance: Reported total revenue of $166 million (with slight variation to $166.3 million), net income of $64 million (nearly $64.4 million) and operating income of approximately $70 million .
Dividend Declaration: Announced a quarterly cash dividend of $0.45 per share payable on June 30, 2025 .
Share Repurchase Authorization: Approved a program to repurchase up to $100 million of common stock, providing flexibility to capitalize on market opportunities .
Full-Year Outlook & Capital Allocation: Provided full-year revenue guidance of $640 million to $700 million along with strategic capital allocation measures [doc 2].
Blue OLED Update: LG Display confirmed commercialization-level performance for blue phosphorescent panels with blue development revenues of approximately $1.1 million [doc 1] [doc 8].

May 1, 2025, 9:01 PM

Transcript 8-K

Universal Display Corp Presents 2025 Guidance and Strategic Initiatives

OLED

Guidance Update

New Projects/Investments

2025 guidance was provided with revenue expected between $640 million and $700 million, with a midpoint at $670 million and approximately 3.5% growth from the previous year, amid macroeconomic uncertainties.
The discussion highlighted strong smartphone and IT market opportunities, with OLED penetration exceeding 50% in smartphones and IT displays expected to grow from 3-4% today to potentially 20% by 2030.
The company is advancing its phosphorescent blue emitter technology, noting a delay from 2024 with commercial specification expected to be achieved within months (starting at the beginning of 2025) and a typical 9-12 month design cycle for product introduction.
Additionally, Universal Display emphasized strategic use of its $1 billion cash position for dividends, buybacks, and R&D investments, supporting both current operations and future growth initiatives.

Mar 18, 2025, 8:01 PM

Transcript

Earnings Transcripts

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