Vishay Precision Group Files Q3 2024 Report

Ticker: VPG · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1487952

Vishay Precision Group, Inc. 10-Q Filing Summary
FieldDetail
CompanyVishay Precision Group, Inc. (VPG)
Form Type10-Q
Filed DateNov 5, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$0.10
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, SEC filing, compliance

Related Tickers: VPG

TL;DR

VPG filed its 10-Q for Q3 2024, confirming compliance and reporting on NYSE.

AI Summary

Vishay Precision Group, Inc. (VPG) filed its quarterly report for the period ended September 28, 2024. The company is incorporated in Delaware and its common stock is traded on the New York Stock Exchange under the symbol VPG. The filing indicates VPG has met its reporting requirements for the preceding 12 months and the past 90 days, and has submitted all required Interactive Data Files electronically.

Why It Matters

This filing provides investors with an update on Vishay Precision Group's financial performance and compliance status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing that confirms the company's compliance with SEC reporting requirements.

Key Players & Entities

  • Vishay Precision Group, Inc. (company) — Registrant
  • September 28, 2024 (date) — Quarterly period end date
  • VPG (company) — Trading Symbol
  • New York Stock Exchange (company) — Exchange where VPG is listed
  • Delaware (location) — State of incorporation

FAQ

What is the trading symbol for Vishay Precision Group, Inc. common stock?

The trading symbol for Vishay Precision Group, Inc. common stock is VPG.

On which exchange is VPG common stock traded?

VPG common stock is traded on the New York Stock Exchange.

In which state was Vishay Precision Group, Inc. incorporated?

Vishay Precision Group, Inc. was incorporated in Delaware.

Has Vishay Precision Group, Inc. filed all required reports for the preceding 12 months?

Yes, the filing indicates that Vishay Precision Group, Inc. has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Has Vishay Precision Group, Inc. submitted all required Interactive Data Files electronically?

Yes, the filing indicates that Vishay Precision Group, Inc. has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

Filing Stats: 4,804 words · 19 min read · ~16 pages · Grade level 18.5 · Accepted 2024-11-05 08:49:35

Key Financial Figures

  • $0.10 — ange on which registered Common stock, $0.10 par value VPG New York Stock Exchange

Filing Documents

Financial Statements

Financial Statements Consolidated Condensed Balance Sheets – September 28, 2024 (Unaudited) and December 31, 2023 3 Consolidated Condensed Statements of Operations (Unaudited) – Fiscal Quarters Ended September 28, 2024 and September 30, 2023 5 Consolidated Condensed Statements of Operations (Unaudited) – Nine Fiscal Months Ended September 28, 2024 and September 30, 2023 6 Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) – Fiscal Quarters Ended September 28, 2024 and September 30, 2023 7 Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) – Nine Fiscal Months Ended September 28, 2024 and September 30, 2023 8 Consolidated Condensed Statements of Cash Flows (Unaudited) –Nine Fiscal Quarters Ended September 28, 2024 and September 30, 2023 9 Consolidated Condensed Statements of Equity (Unaudited) – Fiscal Quarters Ended September 28, 2024 and September 30, 2023 10 Consolidated Condensed Statements of Equity (Unaudited) – Nine Fiscal Months Ended September 28, 2024 and September 30, 2023 11 Notes to Unaudited Consolidated Condensed Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 43

SIGNATURES

SIGNATURES 44 -2-

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS VISHAY PRECISION GROUP, INC. Consolidated Condensed Balance Sheets (In thousands) September 28, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 81,077 $ 83,965 Accounts receivable, net 52,821 56,438 Inventories: Raw materials 34,027 33,973 Work in process 28,275 26,594 Finished goods 26,000 27,572 Inventories, net 88,302 88,139 Prepaid expenses and other current assets 20,137 14,520 Total current assets 242,337 243,062 Property and equipment: Land 4,186 4,154 Buildings and improvements 73,759 72,952 Machinery and equipment 133,281 131,738 Software 10,198 9,619 Construction in progress 10,761 11,379 Accumulated depreciation ( 145,391 ) ( 139,206 ) Property and equipment, net 86,794 90,636 Goodwill 45,610 45,734 Intangible assets, net 41,807 44,634 Operating lease right-of-use assets 25,239 26,953 Other assets 20,739 20,547 Total assets $ 462,526 $ 471,566 Continues on the following page. -3- VISHAY PRECISION GROUP, INC. Consolidated Condensed Balance Sheets (In thousands) September 28, 2024 December 31, 2023 Liabilities and equity (Unaudited) Current liabilities: Trade accounts payable $ 9,986 $ 11,698 Payroll and related expenses 17,819 18,971 Other accrued expenses 21,989 22,427 Income taxes 1,150 4,524 Current portion of operating lease liabilities 4,053 4,004 Total current liabilities 54,997 61,624 Long-term debt 31,383 31,856 Deferred income taxes 3,645 3,490 Operating lease liabilities 20,645 22,625 Other liabilities 14,145 14,770 Accrued pension and other postretirement costs 7,054 7,276 Total liabilities 131,869 141,641 Equity: Common stock 1,336 1,330 Class B convertible common stock 103 103 Treasury stock ( 25,335 ) ( 17,460 ) Capital in excess of par value 202,872 202,672 Retained earnings 191,209 182,066 Accumulated other comprehensive loss ( 39,564 ) ( 38,869 ) Total Vishay Precision Group, Inc. stockholders' equity 330,

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