Form 8-K

8-K — VISHAY INTERTECHNOLOGY INC

Accession: 0000103730-26-000037

Filed: 2026-05-13

Period: 2026-05-13

CIK: 0000103730

SIC: 3670 (ELECTRONIC COMPONENTS & ACCESSORIES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — form8-k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (exhibit99-1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — CURRENT REPORT

8-K (Primary)

Filename: form8-k.htm · Sequence: 1

false000010373000001037302026-05-132026-05-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported) May 13, 2026

Vishay Intertechnology, Inc.

(Exact name of registrant as specified in its charter)

Delaware

1-7416

38-1686453

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

63 Lancaster Avenue

Malvern, PA

19355-2143

(Address of Principal Executive Offices)

Zip Code

Registrant's telephone number, including area code 610-644-1300

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934

(§240.12b-2 of this chapter).

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to

Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol

Name of exchange on which registered

Common stock, par value $0.10 per share

VSH

New York Stock Exchange

Item 2.02 – Results of Operations and Financial Condition

On May 13, 2026, Vishay Intertechnology, Inc. issued a press release announcing its financial results for the fiscal quarter ended

April 4, 2026. A copy of the press release is attached as Exhibit 99.1 to this report.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits

Exhibit No.

Description

99.1

Press release dated May 13, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on

its behalf by the undersigned hereunto duly authorized.

Date: May 13, 2026

VISHAY INTERTECHNOLOGY, INC.

By:

/s/ David L. Tomlinson

Name:

David L. Tomlinson

Title:

Senior Vice President – Chief Accounting Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: exhibit99-1.htm · Sequence: 2

Exhibit 99.1

Vishay Intertechnology Reports First Quarter 2026 Results

Malvern, PA, May 13, 2026 – Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's largest manufacturers of

discrete semiconductors and passive electronic components, today announced results for the fiscal first quarter ended April 4, 2026.

Highlights

•

1Q 2026 revenues of $839.2 million

•

Gross margin was 21.0%

•

1Q 2026 GAAP EPS of $0.05

•

1Q 2026 book-to-bill of 1.34 with book-to-bill of 1.47 for semiconductors and 1.23 for passive components

•

Backlog at quarter end was 5.7 months

“Vishay’s first quarter financial results demonstrate that the Vishay 3.0 strategy is working. As a result of the investments

we made to expand capacity of high-growth, high-margin products, Vishay is reliably scaling with our customers. Our top priority going forward is to increase backlog turns to ensure we maintain competitive lead times as

consumption accelerates. Execution of this priority will enable Vishay to participate fully in the market upcycle and grow revenue faster than our end markets, expand margins and enhance returns,” said Joel Smejkal,

president and CEO.

2Q 2026 Outlook

For the second quarter of 2026, management expects revenues in the range of $875 million and $905 million and a gross profit margin

in the range of 22.0% +/- 50 basis points.

Conference Call

A conference call to discuss Vishay’s first quarter financial results is scheduled for Wednesday, May 13, 2026, at 9:00 a.m.

ET. To participate in the live conference call, please pre-register here. Upon registering, you will be emailed a dial-in number, and unique PIN.

A live audio webcast of the conference call and a PDF copy of the press release and the quarterly presentation will be accessible directly from the

Investor Relations section of the Vishay website at http://ir.vishay.com.

There will be a replay of the conference call available on the Investor Relations website approximately one hour following the call and will remain

available for 30 days.

About Vishay

Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to

innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and healthcare markets. Serving customers worldwide, Vishay is The DNA of tech®. Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the

NYSE (VSH). More on Vishay at www.Vishay.com.

This press release includes certain financial measures which are not recognized in accordance with U.S. generally accepted

accounting principles ("GAAP"), including free cash; earnings before interest, taxes, depreciation and amortization ("EBITDA"); and EBITDA margin; which are considered "non-GAAP financial measures" under the U.S. Securities

and Exchange Commission rules. These non-GAAP measures supplement our GAAP measures of performance or liquidity and should not be viewed as an alternative to GAAP measures of performance or liquidity. Non-GAAP measures such

as free cash, EBITDA, and EBITDA margin do not have uniform definitions. These measures, as calculated by Vishay, may not be comparable to similarly titled measures used by other companies. Management believes that such

measures are meaningful to investors because they provide insight with respect to intrinsic operating results of the Company. Although the terms "free cash" and "EBITDA" are not defined in GAAP, the measures are derived

using various line items measured in accordance with GAAP. The calculation of these measures are indicated on the accompanying reconciliation schedules and are more fully described in the Company’s financial statements

presented in its annual report on Form 10-K and its quarterly reports presented on Forms 10-Q.

Statements contained herein that relate to the Company's future performance, including forecasted revenues and margins, return on capital

investment, capacity expansion, product lead times, and the performance of the economy in general, are forward-looking statements within the safe harbor provisions of Private Securities Litigation Reform Act of 1995. Words and

expressions such as “will,” “expect,” “going forward” or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks,

uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance, or achievements may

vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions; manufacturing or supply chain interruptions or

changes in customer demand; delays or difficulties in implementing our cost reduction strategies; delays or difficulties in expanding our manufacturing capacities; an inability to attract and retain highly qualified personnel;

changes in foreign currency exchange rates; uncertainty related to the effects of changes in foreign currency exchange rates; competition and technological changes in our industries; difficulties in new product development;

difficulties in identifying suitable acquisition candidates, consummating a transaction on terms which we consider acceptable, and integration and performance of acquired businesses; changes in U.S. and foreign trade regulations and

tariffs, and uncertainty regarding the same; volatility in prices for metals and materials; changes in applicable domestic and

foreign tax regulations, and uncertainty regarding the same; changes in applicable accounting standards and other factors affecting our operations that are set forth in our filings with the Securities and Exchange Commission,

including our annual reports on Form 10-K and our quarterly reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or

otherwise.

The DNA of tech® is a trademark

of Vishay Intertechnology.

Contact:

Vishay Intertechnology, Inc.

Peter Henrici

Executive Vice President, Corporate Development

+1-610-644-1300

VISHAY INTERTECHNOLOGY, INC.

Summary of Operations

(Unaudited - In thousands, except per share amounts)

Fiscal quarters ended

April 4, 2026

December 31, 2025

March 29, 2025

Net revenues

839,242

800,922

715,236

Costs of products sold

662,630

644,135

579,682

Gross profit

176,612

156,787

135,554

Gross margin

21.0

19.6

19.0

Selling, general, and administrative expenses

154,488

141,999

134,739

Operating income

22,124

14,788

815

Operating margin

2.6

1.8

0.1

Other income (expense):

Interest expense

(9,973

)

(9,748

)

(8,790

)

Other

701

537

3,747

Total other income (expense) - net

(9,272

)

(9,211

)

(5,043

)

Income (loss) before taxes

12,852

5,577

(4,228

)

Income tax expense (benefit)

5,688

4,591

(136

)

Net earnings (loss)

7,164

986

(4,092

)

Basic earnings (loss) per share

0.05

0.01

(0.03

)

Diluted earnings (loss) per share

0.05

0.01

(0.03

)

Weighted average shares outstanding - basic

136,045

135,727

135,799

Weighted average shares outstanding - diluted

137,471

136,730

135,799

Cash dividends per share

0.10

VISHAY INTERTECHNOLOGY, INC.

Consolidated Condensed Balance Sheets

(Unaudited - In thousands)

April 4, 2026

December 31, 2025

Assets

Current assets:

Cash and cash equivalents

479,357

514,966

Short-term investments

191

265

Accounts receivable, net

369,222

381,802

Inventories:

Finished goods

182,179

182,444

Work in process

347,994

331,347

Raw materials

260,611

245,412

Total inventories

790,784

759,203

Prepaid expenses and other current assets

237,429

231,004

Total current assets

1,876,983

1,887,240

Property and equipment, at cost:

Land

86,093

86,399

Buildings and improvements

836,309

839,856

Machinery and equipment

3,503,626

3,477,884

Construction in progress

509,318

464,475

Allowance for depreciation

(3,215,047

)

(3,195,455

)

1,720,299

1,673,159

Right of use assets

116,526

119,746

Deferred income taxes

182,693

183,016

Goodwill

180,224

180,390

Other intangible assets, net

74,396

78,487

Other assets

111,434

112,122

Total assets

4,262,555

4,234,160

VISHAY INTERTECHNOLOGY, INC.

Consolidated Condensed Balance Sheets (continued)

(Unaudited - In thousands)

April 4, 2026

December 31, 2025

Liabilities and equity

Current liabilities:

Trade accounts payable

238,954

214,984

Payroll and related expenses

166,690

164,114

Lease liabilities

26,166

26,546

Other accrued expenses

269,049

300,031

Income taxes

11,376

14,751

Total current liabilities

712,235

720,426

Long-term debt less current portion

983,090

950,893

Deferred income taxes

97,717

96,818

Long-term lease liabilities

92,458

95,799

Other liabilities

131,702

109,228

Accrued pension and other postretirement costs

169,488

172,723

Total liabilities

2,186,690

2,145,887

Equity:

Common stock

12,402

12,351

Class B convertible common stock

1,210

Capital in excess of par value

1,109,461

1,101,086

Retained earnings

885,771

892,232

Accumulated other comprehensive income

67,021

81,394

Total equity

2,075,865

2,088,273

Total liabilities and equity

4,262,555

4,234,160

VISHAY INTERTECHNOLOGY, INC.

Consolidated Condensed Statements of Cash Flows

(Unaudited - In thousands)

Three fiscal months ended

April 4, 2026

March 29, 2025

Operating activities

Net earnings (loss)

7,164

(4,092

)

Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:

Depreciation and amortization

58,211

53,773

(Gain) loss on disposal of property and equipment

(41

)

189

Inventory write-offs for obsolescence

11,065

9,030

Deferred income taxes

541

1,573

Stock compensation expense

12,273

6,051

Other

(1,476

)

(1,380

)

Changes in operating assets and liabilities

(24,068

)

(49,046

)

Net cash provided by operating activities

63,669

16,098

Investing activities

Capital expenditures

(110,661

)

(61,569

)

Proceeds from sale of property and equipment

279

Purchase of short-term investments

(126

)

(21,899

)

Maturity of short-term investments

198

27,832

Other investing activities

396

(661

)

Net cash used in investing activities

(110,127

)

(56,018

)

Financing activities

Net proceeds on revolving credit facility

31,000

82,000

Dividends paid to common stockholders

(12,401

)

(12,352

)

Dividends paid to Class B common stockholders

(1,210

)

(1,210

)

Repurchase of common stock

(12,538

)

Cash withholding taxes paid when shares withheld for vested equity awards

(3,861

)

(3,893

)

Net cash provided by financing activities

13,528

52,007

Effect of exchange rate changes on cash and cash equivalents

(2,679

)

7,029

Net increase (decrease) in cash and cash equivalents

(35,609

)

19,116

Cash and cash equivalents at beginning of period

514,966

590,286

Cash and cash equivalents at end of period

479,357

609,402

VISHAY INTERTECHNOLOGY, INC.

Reconciliation of Free Cash

(Unaudited - In thousands)

Fiscal quarters ended

April 4, 2026

December 31, 2025

March 29, 2025

Net cash provided by operating activities

63,669

149,362

16,098

Proceeds from sale of property and equipment

308

279

Less: Capital expenditures

(110,661

)

(94,802

)

(61,569

)

Free cash

(46,926

)

54,868

(45,192

)

VISHAY INTERTECHNOLOGY, INC.

Reconciliation of EBITDA

(Unaudited - In thousands)

Fiscal quarters ended

April 4, 2026

December 31, 2025

March 29, 2025

Net earnings (loss)

7,164

986

(4,092

)

Interest expense

9,973

9,748

8,790

Interest income

(3,038

)

(2,753

)

(3,877

)

Income taxes

5,688

4,591

(136

)

Depreciation and amortization

58,211

57,702

53,773

EBITDA

77,998

70,274

54,458

EBITDA margin**

9.3

8.8

7.6

** EBITDA as a percentage of net revenues

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