Vishay Precision Group, Inc.: Q3 FY2026 earnings call

What management said about Q3 FY2026, from the documents filed with the SEC on 4 November 2026: press release. Guidance figures: 1 raised, 1 kept. The quarter’s numbers.

Read the filing

Key takeaways

• Adjusted revenue rose year over year: Adjusted revenue was $87.4 million, up 9.6% from a year earlier and 4.1% sequentially. GAAP revenue was $85.1 million after $2.3 million of tariff refunds passed to customers. Source
• Earnings per share fell year over year: Diluted EPS was $0.04 against $0.59 a year earlier; adjusted diluted EPS was $0.14 against $0.30. Net earnings attributable to VPG stockholders were $0.6 million. Source
• Sensors revenue up 21% year over year: Sensors revenue was $38.4 million, up 21.3% from a year earlier and 14.8% sequentially, mainly on precision resistors in the Test and Measurement market. Source
• Measurement Systems margin rose on volume: Measurement Systems revenue was $22.1 million, up 7.6% from a year earlier and 9.7% sequentially. Gross margin was 56.5% against 50.5%, on higher volume and favorable product mix. Source
• Orders above $100 million: Orders exceeded $100 million, an adjusted consolidated book-to-bill of 1.17. This was the eighth consecutive quarter at or above 1.0, and all three segments were at or above 1.0. Source
• Sensor bookings hit a record: Sensors bookings were $51.7 million, up 7.5% sequentially to a record high, with a book-to-bill of 1.35. Source
• Operating margin fell year over year: Operating margin was 3.2% against 12.7%. The prior-year period included a $5.5 million gain on sale of a manufacturing facility in Kent, Washington. Source
• Adjusted free cash flow of $5.5 million: Adjusted free cash flow was $5.5 million: operating cash flow of $11.1 million less capital expenditures of $5.6 million, with no proceeds from asset sales. Source
• Humanoid robot production preparation: Management is preparing for the anticipated humanoid production ramp, with timing aligned to the customer's updated schedule. The prior quarter had cited a second-half 2026 ramp. Source
• Growing backlog cited: Management pointed to continued order activity and a growing backlog as the basis for its view of revenue momentum. Source

“We made solid progress on profitability and cash generation, improving gross margin and EBITDA sequentially”

Ziv Shoshani, Chief Executive Officer of VPG

Guidance

What changed from last quarter

• Guidance raised: Fourth-quarter net revenue range top end moved to $91 million from $89 million; low end kept at $84 million. Source
• Guidance kept: The $6 million cost savings target for 2026 was restated without change. Source
• New: Tariff refunds passed through to customers reduced GAAP net revenues by $2.3 million this quarter, with no impact on gross profit. This item was not in the prior quarter's release. Source
• New: Non-GAAP measures were revised: adjusted net revenue is introduced, and adjusted measures now also exclude acquisition purchase accounting adjustments and the gain on asset held for sale. Source

Results and growth drivers

• Adjusted revenue rose year over year: Adjusted revenue was $87.4 million, up 9.6% from a year earlier and 4.1% sequentially. GAAP revenue was $85.1 million after $2.3 million of tariff refunds passed to customers. Source
• Earnings per share fell year over year: Diluted EPS was $0.04 against $0.59 a year earlier; adjusted diluted EPS was $0.14 against $0.30. Net earnings attributable to VPG stockholders were $0.6 million. Source
• Nine-month result was a loss: For the nine fiscal months, net loss attributable to VPG stockholders was $1.5 million, or $0.11 per diluted share, against net earnings of $7.2 million a year earlier. Source
• Adjusted EBITDA rose sequentially: Adjusted EBITDA was $8.2 million, a 9.4% margin, against $5.5 million and a 6.5% margin in the second quarter. The prior-year margin was 12.1%. Source

Segments and regions

• Sensors revenue up 21% year over year: Sensors revenue was $38.4 million, up 21.3% from a year earlier and 14.8% sequentially, mainly on precision resistors in the Test and Measurement market. Source
• Sensors margin fell on currency and costs: Sensors gross margin was 32.4% against 33.6% a year earlier and 31.5% in the second quarter. Adjusted margin was 32.6% after $0.1 million of start-up costs. Source
• Weighing Solutions revenue fell year over year: Weighing Solutions adjusted net revenue was $26.9 million, down 2.2% from a year earlier and 11.3% sequentially. GAAP segment net revenue was $24.6 million. Source
• Weighing margin fell on mix and inventory: Weighing Solutions GAAP gross margin was 37.6% against 40.3% a year earlier and 37.3% in the second quarter. Adjusted margin was 34.6% after $0.1 million of start-up costs. Source
• Measurement Systems margin rose on volume: Measurement Systems revenue was $22.1 million, up 7.6% from a year earlier and 9.7% sequentially. Gross margin was 56.5% against 50.5%, on higher volume and favorable product mix. Source

“Sensor bookings reached a record, driven by continued strength in AI-driven applications, including demand for our precision resistors in semiconductor equipment, data center and fiber-optic applications”

Ziv Shoshani, Chief Executive Officer of VPG

Demand and order book

• Orders above $100 million: Orders exceeded $100 million, an adjusted consolidated book-to-bill of 1.17. This was the eighth consecutive quarter at or above 1.0, and all three segments were at or above 1.0. Source
• Sensor bookings hit a record: Sensors bookings were $51.7 million, up 7.5% sequentially to a record high, with a book-to-bill of 1.35. Source
• Aerospace and defense demand continued: Management cited continued demand in aerospace and defense, alongside AI-related demand for precision resistors in semiconductor equipment, data center and fiber-optic applications. Source
• Weighing and measurement orders covered sales: Weighing Solutions adjusted bookings were $28.6 million, flat sequentially, with a book-to-bill of 1.06. Measurement Systems bookings rose 18.6% sequentially, with a book-to-bill of 1.01. Source

Costs and margins

• Gross margin roughly flat year over year: Gross margin was 40.2% against 40.3% a year earlier. Adjusted gross margin was 39.3% against 40.5%; the adjusted figure excludes start-up costs. Source
• Operating margin fell year over year: Operating margin was 3.2% against 12.7%. The prior-year period included a $5.5 million gain on sale of a manufacturing facility in Kent, Washington. Source
• Adjusted operating margin narrowed: Adjusted operating margin was 4.9% against 6.9%. Selling, general and administrative expenses were $31.2 million against $27.3 million a year earlier. Source

“These results demonstrate the strength of our differentiated technology portfolio and our growing participation in attractive secular growth markets”

Ziv Shoshani, Chief Executive Officer of VPG

Cash, balance sheet and capital

• Adjusted free cash flow of $5.5 million: Adjusted free cash flow was $5.5 million: operating cash flow of $11.1 million less capital expenditures of $5.6 million, with no proceeds from asset sales. Source
• Nine-month operating cash flow higher: Nine-month operating cash flow was $10.7 million against $10.0 million. Capital expenditures were $10.6 million against $5.0 million. Source
• Cash declined; revolver partly repaid: Cash and equivalents were $80.9 million at October 3, against $87.4 million at year-end 2025. The company repaid $5.0 million on its revolving facility in the nine months. Source

Strategy and programs

• Humanoid robot production preparation: Management is preparing for the anticipated humanoid production ramp, with timing aligned to the customer's updated schedule. The prior quarter had cited a second-half 2026 ramp. Source
• Growing backlog cited: Management pointed to continued order activity and a growing backlog as the basis for its view of revenue momentum. Source
• Cost savings on pace: Cost savings initiatives are on pace for the $6 million targeted for 2026. Source

Coming up, as management said on 4 November 2026

• Revenue momentum into 2027: Management said it sees revenue momentum into 2027 and expects to realize operating leverage in its target model as revenue grows. Source

Figures management reported

Risks management discussed

• External: Unfavorable currency exchange rates reduced third-quarter operating income by $3.4 million compared with the prior year. Source
• Demand: Adjusted net revenues decreased sequentially in the Transportation, Industrial Weighing and General Industrial markets. Source
• Financial: The GAAP adjusted tax rate of 48% was higher than the first-half 2026 run rate, reducing diluted EPS by $0.03 under a shift in geographic income mix. Source

Earlier plans management reported on

• On track: The prior quarter said the company remained on track for approximately $6 million of cost savings in 2026. This quarter it said initiatives continued on pace for the $6 million target. Source
• Not stated: The prior quarter cited a planned second-half 2026 ramp. This quarter management said timing is aligned to the customer's updated production schedule, without restating a date. Source

Other quarters

• Q2 FY2026 earnings call
• Q1 FY2026 earnings call
• Q4 FY2025 earnings call
• Q3 FY2025 results

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.