Vishay Posts Q2 Adjusted Revenue of $919M, Guides Q3 to $945M–$975M
VSH has more than doubled off its 52-week low of $11.77.
Summary
Vishay reported Q2 adjusted revenue of $919 million, exceeding guidance, and guided Q3 revenue to $945–$975 million, signaling accelerating demand across all end markets.
Key Events · Earnings and Guidance · VSH
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Q2 Revenue Beats Guidance
Adjusted revenue of $918.6 million grew 9.5% sequentially, exceeding the top end of management's guidance, driven by strengthening demand across all end markets, channels, and regions.
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Q3 Guidance Raised Significantly
Management guided Q3 revenue to $945–$975 million, well above Q2's $919 million, with gross margin expected to improve to 24.0% +/- 50 bps, indicating confidence in sustained demand.
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Diluted EPS Impacted by Convertible Notes
Q2 diluted EPS of $0.19 reflects 147.9 million diluted shares, including the effect of the $750 million convertible notes. The company provided a formula showing how share count will increase with stock price, reaching ~168 million shares at a $50 average price.
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Book-to-Bill Remains Strong
Q2 book-to-bill was 1.32, with semiconductors at 1.23 and passive components at 1.40, and backlog stood at 6.1 months, supporting the positive outlook.
Analysis · VSH · Manufacturing
Vishay delivered a strong Q2, with adjusted revenue of $919 million beating the high end of its guidance, and set Q3 revenue guidance at $945–$975 million — well above the current run rate. The sequential growth and bullish outlook signal that the upcycle is gaining momentum, which matters because the company recently raised $750 million in a dilutive offering to fund capacity expansion. If demand materializes as guided, that capital deployment could pay off, but the stock is trading well below the $50 offering price, raising questions about near-term dilution overhang.
How filings like this one have moved
In the 30 days to Oct 4, 2026, 29.2% of the 1584 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.60%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, VSH was trading at $37.30 on NYSE in the Manufacturing sector, with a market capitalization of approximately $6B. The 52-week trading range was $11.77 to $69.47. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.