Vishay Intertechnology, Inc. has recently released its 10-Q report. The company makes and sells discrete semiconductors and passive electronic components across the United States, Germany, the rest of Europe, Israel, and Asia. Its operations are organized into six segments: MOSFETs, Diodes, Optoelectronic Components, Resistors, Inductors, and Capacitors, and its products are sold into automotive, industrial, computing, consumer, telecommunications, military, aerospace, and healthcare markets.
In Item 2, management said nearly all key financial metrics improved versus both the prior fiscal quarter and the prior-year quarter, with higher sales volume driving the gains. Net revenue for the fiscal quarter ended April 4, 2026 was $839.2 million, up from $800.9 million in the December 31, 2025 quarter and $715.2 million in the March 29, 2025 quarter. Net earnings were $7.2 million, or $0.05 per diluted share, compared with $1.0 million, or $0.01 per diluted share, in the prior quarter and a net loss of $4.1 million, or $0.03 per share, a year earlier.
Gross profit and margins benefited from higher volume and manufacturing efficiencies, although higher metals and materials costs offset some of that improvement. Backlog and book-to-bill also increased on stronger order volume. Management said the company is focused on capacity readiness, customer growth, innovation, and expanding production in low-cost countries, while continuing to use acquisitions and internal growth to support earnings per share.
Capital spending remained elevated. Vishay said it plans to spend between $400 million and $440 million on capital expenditures in 2026, with about half directed to its 12-inch wafer fab under construction in Itzehoe, Germany. In the quarter ended April 4, 2026, capital expenditures were $110.7 million, compared with $94.8 million in the prior quarter and $61.6 million a year earlier.
Free cash was negative $46.9 million for the quarter, versus positive $54.9 million in the prior quarter and negative $45.2 million in the year-ago quarter. That result reflected $63.7 million of net cash provided by operating activities, $66,000 of proceeds from property and equipment sales, and the $110.7 million in capital expenditures.
Under its stockholder return policy, Vishay said it returned $13.6 million to shareholders in dividends in the quarter ended April 4, 2026, compared with $13.6 million in dividends and $12.5 million in repurchases in the prior-year quarter. The company said it expects to maintain its dividend and may repurchase shares opportunistically, depending on U.S. available liquidity.
Management also highlighted tariff uncertainty after the Supreme Court’s February 20, 2026 ruling striking down certain IEEPA tariffs, followed by new tariff actions and announcements from the U.S. administration. Vishay said the duration, level, and broader impact of existing and newly announced tariffs remain uncertain. As a result of these announcements, the company's shares have moved 7.21% on the market, and are now trading at a price of $36.055. For the full picture, make sure to review VISHAY INTERTECHNOLOGY INC's 10-Q report.
