Universal Display Corporation Q1 2026 Financial Results and Share Repurchase Authorization

Universal Display Corporation reported its financial results for the first quarter ended March 31, 2026. Total revenue was $142.2 million, a decrease from $166.3 million in Q1 2025. Material sales were $83.7 million, down from $86.2 million, and royalty and license fees were $54.2 million, down from $73.6 million. Net income was $35.9 million, or $0.76 per diluted share, compared to $64.4 million, or $1.35 per diluted share, in Q1 2025. The company revised its 2026 revenue guidance downwards to $630-$670 million. Additionally, the Board of Directors authorized a new \$400 million share repurchase program and declared a second quarter cash dividend of \$0.50 per share. The company repurchased 632,673 shares for \$66.4 million in Q1 2026, completing a previous \$100 million program.