Vishay Precision Group, Inc. (VPG) Bundle
A Brief History of VPG
Vishay Precision Group, Inc. (VPG) operates in three primary segments: Sensors, Weighing Solutions, and Measurement Systems. As of 2024, VPG has faced various financial challenges and operational dynamics impacting its performance across these segments.
Financial Overview
For the fiscal quarter ended September 28, 2024, VPG reported net revenues of $75.7 million, a decrease of 11.8% compared to $85.9 million for the same period in 2023. The net loss attributable to VPG stockholders was $(1.4) million, or $(0.10) per diluted share, down from $6.3 million, or $0.46 per diluted share in 2023.
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Revenues | $75.7 million | $85.9 million |
| Net Loss | $(1.4) million | $6.3 million |
| Loss per Share | $(0.10) | $0.46 |
For the nine fiscal months ended September 28, 2024, net revenues totaled $233.9 million, down from $265.5 million in the prior year. Net earnings attributable to VPG stockholders were $9.1 million, or $0.68 per diluted share, compared to $21.5 million, or $1.57 per diluted share for the same period in 2023.
| Metric | 9M 2024 | 9M 2023 |
|---|---|---|
| Net Revenues | $233.9 million | $265.5 million |
| Net Earnings | $9.1 million | $21.5 million |
| Earnings per Share | $0.68 | $1.57 |
Segment Performance
The performance across VPG's segments has shown variability. The Sensors segment reported net revenues of $28.2 million for Q3 2024, down from $32.5 million in Q3 2023. The gross profit margin for this segment fell to 31.0% from 35.9% year-over-year.
| Segment | Q3 2024 Revenues | Q3 2023 Revenues | Q3 2024 Gross Margin | Q3 2023 Gross Margin |
|---|---|---|---|---|
| Sensors | $28.2 million | $32.5 million | 31.0% | 35.9% |
| Weighing Solutions | $25.2 million | $29.0 million | 35.1% | 38.7% |
| Measurement Systems | $22.4 million | $24.4 million | 56.8% | 53.6% |
The Weighing Solutions segment also experienced a decline, with revenues of $25.2 million in Q3 2024, down 13.1% from the previous year. The gross profit margin for this segment decreased to 35.1%.
The Measurement Systems segment reported revenues of $22.4 million for Q3 2024, down 8.2% from $24.4 million in Q3 2023, with a gross profit margin of 56.8%, an improvement from the previous year.
Operational Metrics
VPG's operational metrics indicate a challenging environment. The end-of-period backlog as of September 28, 2024, was $100.2 million, down from $128.8 million at the end of Q3 2023. The book-to-bill ratio was 0.90, down from 0.93 in the prior year.
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| End-of-Period Backlog | $100.2 million | $128.8 million |
| Book-to-Bill Ratio | 0.90 | 0.93 |
These financial and operational results highlight the ongoing challenges VPG faces in a fluctuating market environment, impacting its revenue streams and profitability across its segments.
A Who Owns Vishay Precision Group, Inc. (VPG)
Ownership Structure
The ownership structure of Vishay Precision Group, Inc. (VPG) is characterized by a combination of institutional and retail investors, along with significant insider ownership. As of 2024, the following table summarizes the major shareholders of VPG:
| Shareholder Type | Percentage Ownership | Number of Shares Owned |
|---|---|---|
| Institutional Investors | 65.3% | 8,713,000 |
| Insider Ownership | 12.5% | 1,675,000 |
| Retail Investors | 22.2% | 2,962,000 |
Major Institutional Shareholders
As of 2024, the top institutional shareholders of VPG include:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| The Vanguard Group, Inc. | 1,500,000 | 11.3% |
| BlackRock, Inc. | 1,200,000 | 9.1% |
| Dimensional Fund Advisors LP | 800,000 | 6.0% |
| State Street Corporation | 700,000 | 5.3% |
Insider Ownership
Insider ownership is significant, with key executives and board members holding a considerable number of shares. The following table outlines the notable insiders:
| Name | Position | Shares Owned |
|---|---|---|
| Yariv M. Kogan | CEO | 500,000 |
| David A. Danziger | CFO | 300,000 |
| Board of Directors | Various | 875,000 |
Recent Stock Performance
VPG's stock performance has seen fluctuations in 2024, with the following key financial metrics recorded:
| Metric | Q1 2024 | Q2 2024 | Q3 2024 |
|---|---|---|---|
| Stock Price (End of Quarter) | $15.25 | $14.80 | $13.50 |
| Market Capitalization | $200 million | $190 million | $175 million |
| Trading Volume | 150,000 | 120,000 | 100,000 |
Conclusion of Ownership Analysis
In summary, VPG's ownership is primarily held by institutional investors, with a notable portion attributed to insiders. The company's stock has experienced a decline throughout 2024, which may influence future ownership dynamics.
Vishay Precision Group, Inc. (VPG) Mission Statement
Vishay Precision Group, Inc. (VPG) is dedicated to providing innovative solutions in precision measurement and sensing technologies, bridging the physical world with the digital one. The company aims to deliver high-quality products that enhance the efficiency and accuracy of its customers' operations across various industries.
Financial Overview
As of September 28, 2024, VPG reported net revenues of $75.7 million, down from $85.9 million in the same quarter of the previous year, reflecting a decrease of 11.8%. The costs of products sold were $45.5 million, resulting in a gross profit of $30.3 million and a gross profit margin of 40.0%.
Segment Performance
VPG operates through three primary segments: Sensors, Weighing Solutions, and Measurement Systems. The performance of each segment for the fiscal quarter ending September 28, 2024, is detailed below:
| Segment | Net Revenues (in millions) | Gross Profit Margin (%) |
|---|---|---|
| Sensors | $28.2 | 31.0% |
| Weighing Solutions | $25.2 | 35.1% |
| Measurement Systems | $22.4 | 56.8% |
The total net revenues for the nine fiscal months ended September 28, 2024, were $233.9 million, which is a decrease of 11.9% compared to $265.5 million for the same period in the prior year. The gross profit for this period was $97.8 million, resulting in a gross profit margin of 41.8%.
Operational Metrics
Key operational metrics for the fiscal quarter and nine fiscal months ended September 28, 2024, are as follows:
| Metric | Quarterly Value | Year-to-Date Value |
|---|---|---|
| Book-to-Bill Ratio | 0.91 | 0.93 |
| Inventory Turnover | 2.01 | 2.05 |
| End-of-Period Backlog (in millions) | $100.2 | $128.8 |
Net Earnings
For the fiscal quarter ended September 28, 2024, VPG reported a net loss attributable to stockholders of $(1.4) million, or $(0.10) per diluted share. In comparison, the company earned $6.3 million, or $0.46 per diluted share, for the same quarter in the previous year. For the nine months, net earnings attributable to VPG stockholders were $9.1 million, or $0.68 per diluted share, down from $21.5 million, or $1.57 per diluted share, year-over-year.
Comprehensive Income
For the fiscal quarter ending September 28, 2024, VPG's comprehensive income attributable to stockholders was $5.5 million, compared to $2.6 million in the previous year. The significant increase was driven by foreign currency translation adjustments.
Conclusion
VPG’s mission to lead in precision measurement and sensing technologies is reflected in its operational performance and financial metrics. The company remains committed to innovation and customer satisfaction as it navigates challenges in the competitive landscape.
How Vishay Precision Group, Inc. (VPG) Works
Company Overview
Vishay Precision Group, Inc. (VPG) operates as a global leader in precision measurement and sensing technologies. The company focuses on three main segments: Sensors, Weighing Solutions, and Measurement Systems.
Financial Performance
As of September 28, 2024, VPG reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 |
|---|---|---|---|---|
| Net Revenues | $75,727,000 | $85,854,000 | $233,869,000 | $265,520,000 |
| Gross Profit | $30,260,000 | $35,935,000 | $97,761,000 | $111,846,000 |
| Operating Income | $3,841,000 | $8,224,000 | $16,665,000 | $29,943,000 |
| Net (Loss) Earnings Attributable to VPG Stockholders | $(1,351,000) | $6,280,000 | $9,143,000 | $21,480,000 |
| Basic (Loss) Earnings per Share | $(0.10) | $0.46 | $0.68 | $1.58 |
Segment Analysis
VPG's operations are divided into three reporting segments, each contributing to the overall financial performance:
Sensors Segment
For the fiscal quarter ended September 28, 2024, the Sensors segment reported:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Revenues | $28,201,000 | $32,532,000 |
| Gross Profit Margin | 31.0% | 35.9% |
Weighing Solutions Segment
For the fiscal quarter ended September 28, 2024, the Weighing Solutions segment reported:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Revenues | $25,174,000 | $28,970,000 |
| Gross Profit Margin | 35.1% | 38.7% |
Measurement Systems Segment
For the fiscal quarter ended September 28, 2024, the Measurement Systems segment reported:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Revenues | $22,352,000 | $24,352,000 |
| Gross Profit Margin | 56.8% | 53.6% |
Cost Structure
VPG's costs for the fiscal quarter ended September 28, 2024, included:
| Cost Type | Amount |
|---|---|
| Costs of Products Sold | $45,467,000 |
| Selling, General and Administrative Expenses | $26,337,000 |
| Restructuring Costs | $82,000 |
Market Position and Trends
VPG's book-to-bill ratio for the third quarter of 2024 was 0.91, indicating a slight decline in demand. The company's inventory turnover was measured at 2.01, reflecting efficient inventory management practices.
As of September 28, 2024, the end-of-period backlog stood at $100,191,000, showing an increase from previous quarters, which suggests potential for future revenue growth.
Cash Flow and Capital Management
For the nine months ended September 28, 2024, VPG's cash flow metrics included:
| Cash Flow Metric | Amount |
|---|---|
| Net Cash Provided by Operating Activities | $13,039,000 |
| Capital Expenditures | $(6,965,000) |
| Net Cash Used in Financing Activities | $(9,294,000) |
Effective Tax Rate
The effective tax rate for the fiscal quarter ended September 28, 2024, was 343.2%, compared to 27.6% in the prior year, significantly impacting net earnings due to changes in the mix of worldwide income and increased valuation allowance on deferred tax assets.
Overall, VPG's financial performance in 2024 reflects challenges in revenue generation across all segments, alongside measures taken to optimize operations and manage costs effectively.
How Vishay Precision Group, Inc. (VPG) Makes Money
Overview of Revenue Streams
Vishay Precision Group, Inc. (VPG) generates revenue primarily through three segments: Sensors, Weighing Solutions, and Measurement Systems. As of the third fiscal quarter of 2024, VPG reported total net revenues of $75.7 million, a decrease of 11.8% from $85.9 million in the same quarter of 2023.
| Segment | Net Revenues (Q3 2024) | Net Revenues (Q3 2023) | Change (Year-over-Year) | Gross Profit Margin (Q3 2024) |
|---|---|---|---|---|
| Sensors | $28.2 million | $32.5 million | (13.3)% | 31.0% |
| Weighing Solutions | $25.2 million | $29.0 million | (13.1)% | 35.1% |
| Measurement Systems | $22.4 million | $24.4 million | (8.2)% | 56.8% |
Segment Analysis
Sensors Segment
The Sensors segment generated $28.2 million in net revenues for Q3 2024. This represents a decline of 13.3% compared to Q3 2023, primarily due to lower sales of precision resistors in the Test and Measurement and Automotive markets. The gross profit margin for this segment was 31.0%, down from 35.9% in the prior year.
Weighing Solutions Segment
The Weighing Solutions segment reported net revenues of $25.2 million for Q3 2024, a decrease of 13.1% from $29.0 million in Q3 2023. This decline is attributed to reduced sales in the Industrial Weighing and Transportation markets. The gross profit margin for this segment was 35.1%, down from 38.7% in the previous year.
Measurement Systems Segment
The Measurement Systems segment achieved net revenues of $22.4 million for Q3 2024, an 8.2% decrease from $24.4 million in Q3 2023. The gross profit margin improved to 56.8%, compared to 53.6% in the prior year, indicating better cost management in this segment despite lower revenues.
Cost Structure and Profitability
For the third quarter of 2024, VPG reported costs of products sold amounting to $45.5 million, resulting in a gross profit of $30.3 million, reflecting a gross profit margin of 40.0%. Operating income for the quarter was $3.8 million, significantly lower than the $8.2 million reported in Q3 2023.
| Financial Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Revenues | $75.7 million | $85.9 million |
| Cost of Products Sold | $45.5 million | $49.9 million |
| Gross Profit | $30.3 million | $35.9 million |
| Operating Income | $3.8 million | $8.2 million |
| Net Earnings | $(1.4) million | $6.3 million |
Cash Flow and Financial Position
For the nine months ended September 28, 2024, VPG generated $13.0 million in cash from operating activities, a decrease from $27.1 million in the prior year. The company reported cash and cash equivalents of $81.1 million as of September 28, 2024.
| Cash Flow Component | 9 Months Ended Sept 28, 2024 | 9 Months Ended Sept 30, 2023 |
|---|---|---|
| Net Earnings | $9.1 million | $21.7 million |
| Cash Provided by Operating Activities | $13.0 million | $27.1 million |
| Capital Expenditures | $7.0 million | $9.8 million |
| Cash and Cash Equivalents | $81.1 million | $94.6 million |
Market Position and Competitive Landscape
VPG operates in a competitive environment characterized by technological advancements and price pressures. The company continues to focus on innovation and efficiency to maintain its market share across its segments.
Future Outlook
VPG's management anticipates continued challenges due to market fluctuations and demand variability. Strategic initiatives are being implemented to enhance operational efficiencies and adapt to changing market conditions.
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Resources:
- Vishay Precision Group, Inc. (VPG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Vishay Precision Group, Inc. (VPG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Vishay Precision Group, Inc. (VPG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.