Vishay Intertechnology (NYSE: VSH) reported Q1 EPS of $0.49, $0.05 better than the analyst estimate of $0.44. Revenue for the quarter came in at $765 million versus the consensus estimate of $753.42 million.

Commenting on results for the first quarter 2021, Dr. Gerald Paul, President and Chief Executive Officer stated, “In the first quarter of 2021, the steep upturn of our business that began in October of last year accelerated even further. Quarterly orders and backlog reached all-time highs. Sales in the first quarter of Vishay’s products from distribution to end customers increased 21% over the fourth quarter of last year and inventories of our products at distribution were reduced by $34 million. Virtually all markets are in excellent shape and supply chains have become rather depleted.”

Dr. Paul continued, “Over the next few years, we expect to experience higher growth rates than over the last decade. This expectation is based upon accelerated electrification, such as factory automation, electrical vehicles, and 5G infrastructure. To be well positioned to service our customers and to fully participate in these growing markets, Vishay intends to increase its capital expenditures for expansion in the mid-term. For the year 2021, we expect to invest approximately $225 million in capital expenditures.”

GUIDANCE:

Vishay Intertechnology sees Q2 2021 revenue of $790-830 million, versus the consensus of $770.65 million.

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