Vishay Precision Group Stock Earnings Reports

VPG reported Q3 2025 revenue of $79.7M, up 6.1% sequentially and 5.3% year-over-year, with total bookings matching revenue (book-to-bill 1.0). Strength was concentrated in Sensors (revenue +19.1% sequential; book-to-bill 1.07) driven by precision resistors and strain gages, while Weighing Solutions saw softer orders (book-to-bill 0.89) and Measurement Systems grew modestly (revenue $20.6M; book-to-bill 1.04) but faces some defense project delays related to the U.S. government shutdown. Adjusted gross margin was 40.5% (impacted by ~$1.4M of FX and product-mix headwinds), adjusted operating margin improved to 6.2%, adjusted EBITDA was $9.2M, and adjusted free cash flow was $7.4M. Cash totaled $86.3M with long-term debt $20.5M (net cash ~$65.8M). Management reiterated strategic priorities: hit a $30M business-development order target for 2025 (already $26M YTD), realize $5M of annualized cost reductions (about $4M realized to date), pursue M&A, and expand the C-suite to accelerate growth and operations. They highlighted emerging opportunity in humanoid robotics (≈$3.6M YTD orders from two developer customers) but cautioned ramp timing and design freezes are uncertain. Q4 revenue guidance (at constant Q3 FX) is $75M–$81M. Key risks: FX and product-mix pressures, timing of defense/government-driven orders, and uncertain ramp timing for humanoid-related business.