Latest news with #BrianMillard
Yahoo
16-05-2025
- Business
- Yahoo
OLED Q1 Earnings Call: Blue Milestone, Tariff Impacts, and Revenue Outlook Discussed
OLED provider Universal Display (NASDAQ:OLED) reported Q1 CY2025 results topping the market's revenue expectations , but sales were flat year on year at $166.3 million. The company expects the full year's revenue to be around $670 million, close to analysts' estimates. Its non-GAAP profit of $1.35 per share was 20.2% above analysts' consensus estimates. Is now the time to buy OLED? Find out in our full research report (it's free). Revenue: $166.3 million vs analyst estimates of $155.6 million (flat year on year, 6.8% beat) Adjusted EPS: $1.35 vs analyst estimates of $1.12 (20.2% beat) Adjusted EBITDA: $80.76 million vs analyst estimates of $71.93 million (48.6% margin, 12.3% beat) The company reconfirmed its revenue guidance for the full year of $670 million at the midpoint Operating Margin: 41.9%, up from 38% in the same quarter last year Free Cash Flow Margin: 10.5%, down from 39.3% in the same quarter last year Inventory Days Outstanding: 447, up from 422 in the previous quarter Market Capitalization: $7.28 billion Universal Display's first quarter results were driven by steady licensing revenue and ongoing demand for its OLED (organic light-emitting diode) materials, particularly in IT and smartphone applications. Management cited a recent uptick in orders, which they believe was influenced by customers responding to new tariff developments. CEO Steve Abramson described recent progress with blue phosphorescent OLED technology—highlighted by LG Display's announcement of successful commercialization—as a notable step for the company and its customers. Looking forward, Universal Display maintained its revenue guidance for the year, noting that market dynamics remain unpredictable due to global trade tensions and the timing of new technology adoption. CFO Brian Millard stated, 'We continue to believe our revenues will be in the range of $640 million to $700 million,' and emphasized the company's focus on innovation and supply chain resilience as key to navigating volatility in the near term. Universal Display's management attributed the flat year-on-year revenue in Q1 to balancing steady licensing income with shifts in material sales. The company's commentary focused on several pivotal developments in OLED technology, supply chain, and customer trends that shaped the quarter and set the stage for future growth. Blue OLED Commercialization Milestone: LG Display's public announcement of successful commercial-level performance using Universal Display's blue phosphorescent material was described as a significant development. Management stressed that blue OLED is critical for improving energy efficiency and enabling broader adoption across smartphones and IT devices. Material Sales Mix: The quarter saw reduced green emitter sales offset by stable red emitter sales, reflecting variable customer purchasing patterns. Management noted that adoption timing and customer inventory management continued to impact quarterly material sales. Tariff-Driven Order Timing: An uptick in orders was observed in April, which management linked to customers anticipating new or increased tariffs. This trend was viewed as likely pulling forward some demand that may have otherwise occurred later in the year. Tandem Architecture Trends: The company highlighted the growing use of tandem OLED structures—where two emissive layers are stacked—to improve device lifetime, especially in IT products like tablets and monitors. However, the adoption in smartphones remains limited. Supply Chain and Manufacturing Diversification: Universal Display pointed to its expanded manufacturing footprint, including a new facility in Ireland, as a strategic move to ensure flexibility and resilience amid global supply chain uncertainties. Management's outlook for the remainder of the year centers on technology milestones, customer adoption of new OLED architectures, and the unpredictability surrounding global trade and tariffs. Blue OLED Adoption: The pace at which customers, especially large panel makers, integrate blue phosphorescent OLED into commercial products will be a key determinant of revenue growth and margin expansion. Tariff and Trade Environment: Ongoing changes in tariff policy could accelerate or delay customer orders, impacting revenue timing and possibly creating volatility in quarterly results. Product Roadmap Expansion: The company's push into new applications—including automotive and advanced IT devices—may broaden its addressable market, but actual uptake will depend on customer product launches and consumer demand. Tyler Bisset (Goldman Sachs): Asked how LG Display's blue OLED milestone affects adoption timelines and pricing. Management said product launch timing is up to customers and that pricing discussions are ongoing. James Ricchiuti (Needham & Company): Sought clarification on the commercial viability of pure phosphorescent blue solutions. Management explained that customer approaches vary and emphasized the efficiency benefits of phosphorescent materials. Mehdi Hosseini (SIG): Questioned whether the current blue implementation is a bridge to wider adoption. Management noted the tandem structure is mainly for high-end devices, with broader rollout dependent on further advancements. Scott Searle (ROTH Capital Partners): Asked about the impact of tariffs on order timing. Management confirmed increased orders in April were likely due to tariff concerns, but full-year guidance remains unchanged. Nam Kim (Arete Research): Inquired about the use of Universal Display's blue host materials and the relevance of tandem versus single-layer structures. Management declined to discuss specific customer recipes but confirmed ongoing development in both areas. Looking ahead, the StockStory team will be monitoring (1) the pace and breadth of blue phosphorescent OLED adoption across major customer product lines, (2) any further shifts in customer order patterns tied to evolving tariff and trade policies, and (3) developments in tandem and single-layer OLED architectures, particularly in IT and smartphone markets. Progress in these areas will be central to Universal Display's growth trajectory. Universal Display currently trades at a forward EV-to-EBITDA ratio of 33.1×. Is the company at an inflection point that warrants a buy or sell? The answer lies in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like 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 176% over the last five years. 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.
Western Telegraph
05-05-2025
- Entertainment
- Western Telegraph
Selfless Fishguard volunteer honoured with citizen award
The Fishguard and Goodwick Citizen of the Year award honours people who have made an outstanding contribution to the local community through hard work and volunteering. This year's finalists were Neeve Hallett, Blanche Giacci, Brian Millard, Christopher Smith and Vivien Millard. (Image: Fishguard and Gioodwick Town Council) Neeve runs the popular Pembrokeshire Performing Arts which has recently put on Jesus Christ Superstar and Peter Pan as ell as a sold-out production of Annie last year. (Image: Fishguard and Gioodwick Town Council) Blanche is a trustee of Fishguard's community theatre, Theatr Gwaun. In her role at the theatre she has put on events raising thousands for Women's Aid, the Pembrokeshire women's refuge, men's mental health charities and Theatr Gwaun. (Image: Fishguard and Gioodwick Town Council) Christopher Smith gives his time to help maintain both the Ocean Lab and Theatre Gwaun and recently helped create Sea Trust's Gardd y Mor on Goodwick Parrog. He is also a stalwart of Goodwick gardening club, offering a warm welcome and gardening advice to members. (Image: Fishguard and Gioodwick Town Council) Vivien Millard is a trustee of Fishguard and Goodwick Cat and Dog rescue, a charity shop that raises money to help the needy pay vets fees and makes regular donations and food supplies to local animal sanctuaries. (Image: Fishguard and Gioodwick Town Council) The winner of this year's award was Brian Millard. Brian gives up his time every week to run the Fishguard Thunderbolts, a multi sports club for adults and young people with disabilities which meets at Fishguard Leisure Centre. Since its inception in 2017 the Thunderbolts has gone from strength to strength. Its members enjoy a range of sporting activities and a Thunderbolts football team has also been formed. The team has also competed in the Rotary Disabled Sports Team Championships in Cardiff where it has won a raft of trophies for basketball, curling, shotput and boccia among others. 'I'm very grateful and appreciate the citizen of the year award 2025,' said Brian. 'A huge thank you, everyone, on the Fishguard and Goodwick Town Council and anyone who nominated me Fishguard and Goodwick Town Council said Brian's work with Fishguard Thunderbolts 'makes a huge difference to young people and adults'. Town clerk, Rachel Thompson added: 'The winner of Fishguard & Goodwick Town Council's Citizen of the Year award for the Civic Year 2024-25 was Brian Millard, for his outstanding contribution to the communities of Fishguard and Goodwick. 'He was nominated for his commitment and work with the Fishguard Thunderbolts, the multi-sports club for disabled young people and adults.' Brian was unable to attend the presentation event so mayor, Cllr Billy Shaw presented his award at one of the weekly sessions of the club. The other finalists were all presented with certificates of appreciation for the outstanding work they all do for the communities of Fishguard and Goodwick.
Yahoo
05-05-2025
- Entertainment
- Yahoo
Selfless Pembrokeshire volunteer honoured with rare citizen award
A local sports enthusiast who gives up his own time to run an all-ability sports club for young people and adults has been named his town's Citizen of the Year. The Fishguard and Goodwick Citizen of the Year award honours people who have made an outstanding contribution to the local community through hard work and volunteering. This year's finalists were Neeve Hallett, Blanche Giacci, Brian Millard, Christopher Smith and Vivien Millard. (Image: Fishguard and Gioodwick Town Council) Neeve runs the popular Pembrokeshire Performing Arts which has recently put on Jesus Christ Superstar and Peter Pan as ell as a sold-out production of Annie last year. (Image: Fishguard and Gioodwick Town Council) Blanche is a trustee of Fishguard's community theatre, Theatr Gwaun. In her role at the theatre she has put on events raising thousands for Women's Aid, the Pembrokeshire women's refuge, men's mental health charities and Theatr Gwaun. (Image: Fishguard and Gioodwick Town Council) Christopher Smith gives his time to help maintain both the Ocean Lab and Theatre Gwaun and recently helped create Sea Trust's Gardd y Mor on Goodwick Parrog. He is also a stalwart of Goodwick gardening club, offering a warm welcome and gardening advice to members. (Image: Fishguard and Gioodwick Town Council) Vivien Millard is a trustee of Fishguard and Goodwick Cat and Dog rescue, a charity shop that raises money to help the needy pay vets fees and makes regular donations and food supplies to local animal sanctuaries. (Image: Fishguard and Gioodwick Town Council) The winner of this year's award was Brian Millard. Brian gives up his time every week to run the Fishguard Thunderbolts, a multi sports club for adults and young people with disabilities which meets at Fishguard Leisure Centre. Since its inception in 2017 the Thunderbolts has gone from strength to strength. Its members enjoy a range of sporting activities and a Thunderbolts football team has also been formed. The team has also competed in the Rotary Disabled Sports Team Championships in Cardiff where it has won a raft of trophies for basketball, curling, shotput and boccia among others. 'I'm very grateful and appreciate the citizen of the year award 2025,' said Brian. 'A huge thank you, everyone, on the Fishguard and Goodwick Town Council and anyone who nominated me Fishguard and Goodwick Town Council said Brian's work with Fishguard Thunderbolts 'makes a huge difference to young people and adults'. Town clerk, Rachel Thompson added: 'The winner of Fishguard & Goodwick Town Council's Citizen of the Year award for the Civic Year 2024-25 was Brian Millard, for his outstanding contribution to the communities of Fishguard and Goodwick. 'He was nominated for his commitment and work with the Fishguard Thunderbolts, the multi-sports club for disabled young people and adults.' Brian was unable to attend the presentation event so mayor, Cllr Billy Shaw presented his award at one of the weekly sessions of the club. The other finalists were all presented with certificates of appreciation for the outstanding work they all do for the communities of Fishguard and Goodwick.
Yahoo
01-05-2025
- Business
- Yahoo
Universal Display (NASDAQ:OLED) Surprises With Q1 Sales But Inventory Levels Increase
OLED provider Universal Display (NASDAQ:OLED) announced better-than-expected revenue in Q1 CY2025, but sales were flat year on year at $166.3 million. The company expects the full year's revenue to be around $670 million, close to analysts' estimates. Its GAAP profit of $1.35 per share was 25.4% above analysts' consensus estimates. Is now the time to buy Universal Display? Find out in our full research report. Revenue: $166.3 million vs analyst estimates of $155.6 million (flat year on year, 6.8% beat) EPS (GAAP): $1.35 vs analyst estimates of $1.08 (25.4% beat) The company reconfirmed its revenue guidance for the full year of $670 million at the midpoint Operating Margin: 41.9%, up from 38% in the same quarter last year Free Cash Flow Margin: 10.5%, down from 39.3% in the same quarter last year Inventory Days Outstanding: 471, up from 422 in the previous quarter Market Capitalization: $5.98 billion 'We began 2025 on a solid financial note and continue to remain confident in the long-term growth trajectory of the OLED market. At the same time, we recognize the increasing complexity and uncertainty of the global landscape. In this environment, we are committed to our long-term strategy of advancing our leadership through the continuous invention, development and delivery of state-of-the-art OLED technologies and materials. With a powerful innovation engine, strong balance sheet, resilient supply chain, and operational agility, we are well-positioned to adapt to change, respond swiftly and continue supporting our customers and partners,' said Brian Millard, Vice President and Chief Financial Officer of Universal Display Corporation. Serving major consumer electronics manufacturers, Universal Display (NASDAQ:OLED) is a provider of organic light emitting diode (OLED) technologies used in display and lighting applications. A company's long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Luckily, Universal Display's sales grew at a decent 8.6% compounded annual growth rate over the last five years. Its growth was slightly above the average semiconductor company and shows its offerings resonate with customers. Semiconductors are a cyclical industry, and long-term investors should be prepared for periods of high growth followed by periods of revenue contractions. Long-term growth is the most important, but short-term results matter for semiconductors because the rapid pace of technological innovation (Moore's Law) could make yesterday's hit product obsolete today. Universal Display's recent performance shows its demand has slowed as its annualized revenue growth of 4.3% over the last two years was below its five-year trend. This quarter, Universal Display's $166.3 million of revenue was flat year on year but beat Wall Street's estimates by 6.8%. Looking ahead, sell-side analysts expect revenue to grow 5.2% over the next 12 months, similar to its two-year rate. This projection doesn't excite us and implies its newer products and services will not accelerate its top-line performance yet. At least the company is tracking well in other measures of financial health. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Days Inventory Outstanding (DIO) is an important metric for chipmakers, as it reflects a business' capital intensity and the cyclical nature of semiconductor supply and demand. In a tight supply environment, inventories tend to be stable, allowing chipmakers to exert pricing power. Steadily increasing DIO can be a warning sign that demand is weak, and if inventories continue to rise, the company may have to downsize production. This quarter, Universal Display's DIO came in at 471, which is 70 days above its five-year average, suggesting that the company's inventory has grown to higher levels than we've seen in the past. We were impressed by how significantly Universal Display blew past analysts' EPS expectations this quarter. We were also glad its revenue outperformed Wall Street's estimates. On the other hand, its inventory levels materially increased. Overall, we think this was still a solid quarter with some key areas of upside. The stock traded up 2.9% to $145 immediately following the results. Universal Display had an encouraging quarter, but one earnings result doesn't necessarily make the stock a buy. Let's see if this is a good investment. We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free.
