Q4 2025 Vishay Intertechnology Inc Earnings Call Transcript
Key Points
- Vishay Intertechnology Inc (VSH) reported fourth-quarter revenue of $801 million, slightly above the midpoint of their guidance and 1.3% higher than the third quarter.
- The company experienced broad-based order growth across all main product technologies, with orders reaching a three-year high.
- Vishay Intertechnology Inc (VSH) achieved a book-to-bill ratio of 1.2, indicating strong demand and future revenue potential.
- The company's strategic plan, Vishay 3.0, is showing positive impacts with deeper technical engagements and greater collaboration with customers.
- Revenue growth was driven by strong performance in industrial power and AI-related power applications, with significant contributions from Asia.
- Automotive revenue decreased by 3.4% compared to the third quarter, primarily due to lower pull rates during the holiday weeks in the Americas and Europe.
- Gross margin was modestly above guidance but still faced pressure from elevated metals and material costs.
- SG&A expenses increased due to higher compensation costs, R&D spending, and legal costs related to accounts receivable securitization transactions.
- The Newport fab continued to negatively impact the MOSFET segment's gross margin by approximately 600 basis points.
- The company expects negative free cash flow for 2026 due to ongoing capacity expansion plans, impacting shareholder returns.
Good day and thank you for standing by. Welcome to the Vishay Intertechnology fourth quarter 2025 earnings call. (Operator Instructions)
Please be advised today's conference is being recorded. I would now like to turn the call over to your speaker today, Peter Henrici. Please go ahead.
Thank you, Kevin. Good morning and welcome to Vishay Intertechnology's fourth quarter and year 2025 earnings call. I am joined today by Joel Smejkal, our President and Chief Executive Officer; and by Dave McConnell, our Chief Financial Officer.
This morning, we reported results for our fourth quarter and year 2025. A copy of our earnings release is available in the Investor Relations section of our website at ir.vishay.com. This call is being broadcast live over the web and can be accessed through our website. In addition, today's call is being recorded and will be available via replay on our website.
During the call, we will be referring
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