Universal Display (OLED) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Universal Display published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Universal Display reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Universal Display reports in thousands of dollars; figures here are converted to millions. It has one reportable segment, OLED technologies and materials.
• Q3 2025 royalty and license fees were reduced by a $9.5 million out-of-period adjustment, which flatters the year-on-year comparison for that line. Q3 2026 GAAP net income includes a $28.9 million gain on a UDC Ventures investment, which the non-GAAP adjusted figures exclude.

Source: Universal Display Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Universal Display splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Universal Display's Material sales revenue was $79.7 million in Q3 2026, down 4% from $82.6 million in Q3 2025, 50% of total revenue.
• Universal Display's Royalty and license fees revenue was $75.5 million in Q3 2026, up 42% from $53.3 million in Q3 2025, 47% of total revenue.
• Universal Display's Contract research services revenue was $5.2 million in Q3 2026, up 43% from $3.7 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Universal Display said:

“The Company continues to believe that its 2026 revenue will be around the lower end of its previous guidance range of $630 million to $670 million.”

Source: Universal Display Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the OLED forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenue and diluted net income per share, each as first reported in that quarter's release.

We do not hold a confirmed date for Universal Display's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Universal Display earns money two ways from OLED display makers: selling phosphorescent OLED materials and charging royalty and license fees on its patents. In Q3 2026 material sales were $79.7 million of $160.4 million in total revenue, royalty and license fees $75.5 million, and contract research services $5.2 million. (Universal Display Q3 2026 release, Oct 28, 2026)

Material sales fell from $82.6 million, which Universal Display attributed primarily to changes in customer mix and a $4.8 million unfavorable change in the cumulative catch-up adjustment, partly offset by higher unit material volume. Royalty and license fees rose from $53.3 million because of higher unit volume, customer mix, and the $9.5 million out-of-period adjustment that had reduced the year-ago figure. Gross margin on material sales fell to 50% from 60%. (Universal Display Q3 2026 release, Oct 28, 2026)

Almost all of Universal Display's revenue comes from Asian panel makers. South Korea accounted for $101.3 million in the quarter and China $52.4 million, against $32.2 million a year earlier; the United States was $4.5 million. Three customers made up 45%, 23% and 14% of revenue. (Universal Display Form 10-Q, Q3 2026, Oct 28, 2026)

Its licensees include Samsung Display, under an agreement running through the end of 2027 with a two-year extension option, LG Display, whose agreements were extended in 2026 at least through the end of 2030, and the Chinese panel makers BOE, CSOT and Visionox. (Universal Display Form 10-Q, Q3 2026, Oct 28, 2026)

Universal Display's GAAP diluted EPS of $1.72 in Q3 2026 included a $28.9 million gain on a UDC Ventures investment and a $7.2 million foreign currency gain on a tax receivable denominated in Korean won, which lifted other income, net to $37.3 million. Its non-GAAP adjusted EPS of $1.23 excludes the investment gain and the related $6.1 million of income tax expense. (Universal Display Q3 2026 release, Oct 28, 2026)

Operating income rose to $53.7 million from $43.1 million. The effective income tax rate was 20.4%, against 18.7% a year earlier. (Universal Display Q3 2026 release, Oct 28, 2026)

Buybacks reduced the share count: diluted weighted average shares were 45,787,266, against 47,676,500 a year earlier. Universal Display repurchased 963,333 shares for $78.8 million in the quarter, completing a $100 million program and buying under a further $400 million program authorized in April 2026. It declared a fourth-quarter dividend of $0.50 per share. (Universal Display Q3 2026 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Universal Display gives a full-year revenue range and no EPS guidance. In its Q3 2026 release it repeated that 2026 revenue will be around the lower end of its previous range of $630 million to $670 million, the same view it gave with Q2 results. Revenue for the first nine months of 2026 was $454.8 million, against $477.7 million a year earlier. (Universal Display Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Universal Display, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Universal Display's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning OLED is on is OLED a buy or a sell?, what analysts expect next is on the OLED forecast, and what the company does is on the Universal Display (OLED) stock page.

Every number on this page can be traced to a document Universal Display published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.