Vishay Q2 Revenue Jumps 17% to $889M, Margins Expand, Backlog Surges

summarizeSummary

Vishay's Q2 2026 revenue rose 17% to $888.6M with expanding margins and a surging backlog, while convertible notes became convertible and the revolver was paid off.

check_boxKey Events · Earnings and Guidance · VSH

• Revenue Up 17% YoY

  Q2 2026 net revenues reached $888.6 million, up from $762.3 million a year ago, driven by higher volumes and improved pricing across all segments.

• Margins Expand Significantly

  Gross margin improved to 23.3% from 19.5% YoY; operating margin rose to 6.0% from 2.9%. Net earnings were $28.1 million, or $0.19 per diluted share.

• Backlog Surges to $1.88B

  End-of-period backlog jumped to $1,877.3 million, up 60% from $1,174.9 million a year ago, with a book-to-bill ratio of 1.32 indicating strong ongoing demand.

• Convertible Notes Become Convertible

  The $750 million 2.25% convertible notes due 2030 became convertible at the holder's option starting July 6, 2026, and are classified as current liabilities.

auto_awesomeAnalysis · VSH · Manufacturing

A strong second quarter saw revenue climb 17% year-over-year to $888.6 million, with net earnings of $28.1 million, or $0.19 per diluted share. Higher volumes and better pricing pushed gross margin to 23.3% from 19.5% a year ago. Demand remains robust across industrial, automotive, and other end markets, as evidenced by a book-to-bill ratio of 1.32 and a backlog that swelled 60% to $1.88 billion. The company also disclosed that its $750 million convertible notes became convertible at the holder's option starting July 6, 2026, and that proceeds from the recent $830 million equity offering were used to fully repay the revolving credit facility. Five directors adopted 10b5-1 trading plans covering up to 124,846 shares, a routine but notable insider selling signal.