Vishay Precision : VPG 2026 First Quarter Earnings Presentation

Published: 2026-05-12 09:12:38 ET VPG

Published on 05/12/2026 at 09:12 am EDT

May 12, 2026

FISCAL FIRST QUARTER fi0fi6 HIGHLIGHTS

Revenue grew 4.7% sequentially and 17.6% from the prior year.

Bookings of $102.1 million grew 25.5% from 4Q25 and 37.3% year-over year and reached the 3rd highest level in VPG's history.

Book-to-Bill of 1.21 is 6th consecutive quarter at least 1.0 or greater, as all segments reported book-to-bills well in excess of 1.0. Reflects demand strength across key applications, including semiconductor equipment, data center, avionics, military and space, steel, and certain industrial markets.

Sensors' bookings reach highest levels in 15 quarters.

Gross margin improved sequentially to 39%.

VPG Consolidated Revenue

Amounts in $ millions

$84.4

$80.6

$79.7

$75.2

$71.7

1Q25 2Q25 3Q25 4Q25 1Q26

VPG Consolidated Bookings

$102.1

$81.3

$79.9

$79.7

$74.4

Amounts in $ millions

1Q25 2Q25 3Q25 4Q25 1Q26

Book-to-Bill 1.04 1.06 1.00 1.01 1.21

PERFORMANCE THROUGH PRECISION 3

SENSORS - SALES & BOOKINGS

Highlights:

Sales grew 9.6% sequentially, driven by precision resistors in the Test & Measurement and AMS markets and higher sales of strain gages in the General Industrial market.

Bookings grew 29.0% sequentially and 57.6% year over year, resulting in a book-to-bill of 1.36.

Strong demand for precision resistors in semiconductor, data center/fiber optics, and AMS.

Received $1 million follow-on preproduction orders of strain gages from an initial humanoid robot customer. Indications that initial customers will begin to slowly scale production in 2H26. Began discussions with fourth humanoid robot developer.

Sensors Segment Revenue

Amounts in $ millions

$33.3

$31.6

$30.4

$27.1

$26.6

1Q25 2Q25 3Q25 4Q25 1Q26

Sensors Segment Bookings

$45.2

$35.1

$33.8

$29.8

$28.7

Amounts in $ millions

1Q25

2Q25

3Q25

4Q25

1Q26

Book-to-Bill

1.06

1.12

1.07

1.15

1.36

PERFORMANCE THROUGH PRECISION 4

WEIGHING SOLUTIONS - SALES & BOOKINGS

Highlights:

1Q26 revenues grew 9% sequentially and 14.4% from a year ago. Sequential growth in our Other markets for medical and consumer applications and in the Transportation market.

Bookings of $32.9 million increased 16.8% sequentially and 25.6% from a year ago, and resulted in a book-to-bill of 1.09.

Sequential bookings growth reflects higher demand for process weighing applications and for onboard weighing systems.

Weighing Solutions Segment Revenue

Amounts in $ millions

$30.2

$29.4

$27.5

$27.7

$26.4

1Q25 2Q25 3Q25 4Q25 1Q26

Weighing Solutions Segment Bookings

$32.9

$28.2

$27.2

$26.2

$24.5

Amounts in $ millions

1Q25

2Q25

3Q25

4Q25

1Q26

Book-to-Bill

0.99

0.92

0.89

1.02

1.09

PERFORMANCE THROUGH PRECISION 5

Highlights:

1Q26 revenues declined 7.3% sequentially due to softer steel-related sales, but grew 14% year over year. DTS achieved record sales driven by AMS projects.

Orders grew 32.3% sequentially, reflecting higher orders for jet engine testing and hypersonic missile projects and DSI simulation systems.

DTS data loggers used onboard Artemis II mission to measure force on astronaut seats during take off and landing.

Measurement Systems Segment Revenue

Amounts in $ millions

$22.8

$20.8

$18.2

$19.2

$20.6

1Q25 2Q25 3Q25 4Q25 1Q26

Measurement Systems Segment Bookings

$19.5

$23.9

$18.1

$21.4

$23.0

Amounts in $ millions

PERFORMANCE THROUGH PRECISION

1Q25 2Q25 3Q25 4Q25 1Q26

Book-to-Bill 1.07 1.20 1.04 0.81 1.15 6

NEW TARGET THREE-YEAR MODEL REFLECTS HIGHER ORGANIC GROWTH

(in $ Millions; Margin in Percent)

FY25

Actual1

Annual CAGR Revenue Growth

Assumptions3

Revenue

$307M

8% - 10%

Organic growth only

Key secular growth drivers (semiconductor, data centers, defense)

Moderate growth related to humanoid robots

Business development execution

Adj. Gross Margin

39.2%

46.5% - 47.5%

$20M+ Operational Excellence initiatives

Adj. Operating Margin2

3.7%

14.5% - 15.5%

Operating leverage

Adj. EBITDA Margin

9.2%

18.5% - 20.5%

Significant cash generation

Example: Targeted Revenue Growth by Segment*

10%

$108

$80

$132

$111

11%

$160

$116

CAGR

See reconciliations for FY25 results.

Assumes approximately $5 million of incremental annual investments to support new CPBO and COO organizations, IT investments, and new incentive plans..

Based on foreign exchange rates as of 1Q26; Refer to the Company's disclosures regarding Non-GAAP financial information.

PERFORMANCE THROUGH PRECISION

2025 2028P

Assumes consolidated revenue compounded growth of 9% 2025-2028.

Sensors segment revenue includes assumed 50% annual compounded growth related to humanoid-robots from 2025 levels.

REVISED TARGET MODEL: SECULAR GROWTH DRIVERS AND OPERATIONAL EXCELLENCE

Organic Growth in High Single-Digits

$20 Million Targeted Cost Reductions

Exposure to secular growth markets:

Semiconductor equipment driven by AI-infrastructure

Humanoid robot and Physical-AI applications

Aerospace and defense spending in the US and Europe

Fiber optics / data center buildout

Establishment of Chief Business and Product

Officer organization:

Sales & Business Development Discipline

Customer Relationship Management

Marketing Systems Establishment

Product Lifecycle Management

Optimization of Manufacturing Footprint:

Streamlining to low-cost manufacturing sites

Operational Excellence

Use of more automation and process improvements

Leveraging Procurement Processes

Consolidating procurement activity

VPG's advanced manufacturing facility in Chennai, India is the largest VPG operation.

Revenue in $ millions

1Q26

4Q25 Comments

Revenue

$84.4

$80.6

Gross Profit Margin by Segment:

Sensors:

34.8%

Primarily due to higher volume, favorable product mix, higher manufacturing efficiencies, partially offset by unfavorable

28.5% foreign exchange rates and higher personnel costs.

Weighing Solutions:

34.2%

33.0% Reflects higher volume and favorable foreign exchange rates

Measurement Systems:

52.6%

The sequential decline was primarily due to lower volume and

53.3%* wage increases, partially offset by favorable product mix.

Gross Profit Margin Consolidated:

39.0%

36.8%

Adjusted Gross Profit Margin

Consolidated:

39.0%

37.0%

* Measurement Systems gross margin in 4Q25 adjusted for purchase accounting. See reconciliation tables.

Amounts in $ millions, expect margin and per share data

Revenue

Gross Profit Margin:

Adjusted Gross Profit Margin* :

Selling, General, and Admin. Expenses:

Operating Income:

Operating Margin:

Adj. Operating Income:

Adj. Operating Margin:

Adj. Tax Rate:

Net Earnings**:

Net Earnings per diluted share*:

Adjusted Net Earnings*:

Adjusted Net Earnings per diluted share*:

1Q26

$84.4 39.0%

39.0%

$32.1

$0.3 0.4%

$1.6 1.9%

31.5%

$(0.3)

$(0.02)

$0.9

$0.07

4Q25

$80.6 36.8%

37.0%

$27.9

$1.7 2.2%

$2.1 2.6%

32%

$(1.9)

$(0.14)

$1.3

$0.09

* See reconciliation tables.

** Attributable to VPG shareholders.

Amounts in $ millions, expect margin and per share data

1Q26

4Q25

Adjusted EBITDA:

$5.9

$6.2

Cash From Operations:

$(0.6)

$4.8

Purchased Capital Expenditures

$3.0

$3.5

Adj. Free Cash Flow*:

$(3.7)

$1.3

Cash and Cash Equivalents

$82.5

$87.4

Total Assets:

$453.8

$457.8

Total Long-term Debt:

$20.6

Total Liabilities:

$119.4

$118.3

* Free cash flow defined as cash from operating activities less capital expenditures plus proceeds from the sales of assets.

Q&A

Appendix

Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share -Quarter

Non-GAAP Reconciliation EBITDA and Adjusted EBITDA - QTR

Reconciliation of Adjusted Gross Profit by Segment

Fiscal quarter ended

In $ thousands except margin data

April 4, 2026

March 29, 2025

December 31, 2025

Sensors

As reported - GAAP

11,588

8,146

8,665

As reported - GAAP Margins

34.8 %

30.1

28.5 %

Start-up costs

187

As Adjusted - Non GAAP

11,588

8,333

8,665

As Adjusted - Non GAAP Margins

34.8 %

30.8 %

28.5 %

Weighing Solutions

As reported - GAAP

10,340

9,717

9,156

As reported - GAAP Margins

34.2 %

36.8 %

33.0 %

Start-up costs

276

As Adjusted - Non GAAP

10,340

9,993

9,156

As Adjusted - Non GAAP Margins

34.2 %

37.8 %

33.0 %

Measurement Systems

As reported - GAAP

10,946

9,182

11,844

As reported - GAAP Margins

52.6 %

50.3 %

52.8 %

Acquisition purchase accounting adjustments

110

As Adjusted - Non GAAP

10,946

9,182

11,954

As Adjusted - Non GAAP Margins

52.6 %

50.3 %

53.3 %

Consolidated Revenue by Market*

Amounts in $ millions

20.0

18.0

$16.1

$16.4

$17.8

$16.9

16.0

$15.5

$14.7

$14.1

$14.8

$14.7

$14.1

14.0

$13.5

$13.8

12.0

$11.3

$11.8

10.0

$9.5

$9.1

$9.3

$9.8

$8.9

8.0

$7.3

$6.5

$6.4

$7.9

6.0

$5.7

$5.6

4.0

2.0

0.0

Test & Measurement

Avionics, Military & Space

General Industrial Industrial Weighing Transportation Steel Other Markets

* Amounts related to humanoid robot customers reclassified to

General Industrial from Test & Measurement.

VPG Sustainability

Projects Underway:

Climate Risk Assessment

Sustainability Report 2024-2025

Key Past Milestones:

Greenhouse Gas Goals/Target Setting

Updated ESG Website with 2024 Data

Published Corporate Social Responsibility, Customer Safety and Health and Product Use and End of Life Policies

Published energy management and water use reduction targets

Disclaimer

Vishay Precision Group Inc. published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2026 at 13:11 UTC.