VPG Adjusted Revenue Rises as Orders Top $100 Million

The Tip Desk · November 11, 2026 · 4 min read

Adjusted net revenues were $87.4 million in the fiscal third quarter, with a 1.17 book-to-bill and $8.2 million of adjusted EBITDA.

Vishay Precision Group, Inc. (VPG), a maker of precision measurement and sensing technologies, reported adjusted net revenues of $87.4 million for the fiscal third quarter ended October 3, 2026, up 4.1% from the prior quarter and 9.6% from a year earlier. GAAP net revenues were $85.1 million after $2.3 million of tariff refunds passed through to customers, with no impact on gross profit.

Orders exceeded $100 million, producing an adjusted consolidated book-to-bill of 1.17, the eighth consecutive quarter at or above 1.0. Chief Executive Officer Ziv Shoshani said all three reporting segments achieved book-to-bill ratios of 1.0 or better. Sensor bookings reached a record, which the company attributed to continued strength in AI-driven applications, including precision resistors for semiconductor equipment, data center and fiber-optic uses, as well as aerospace and defense.

Sensors remained the growth engine. Segment bookings of $51.7 million grew 7.5% sequentially to a record, for a book-to-bill of 1.35. Sensors revenues were $38.4 million, up 21.3% from $31.6 million a year earlier and 14.8% from $33.4 million in the second quarter. The company said the year-over-year increase was primarily higher sales of precision resistors in Test and Measurement; sequentially, it reflected higher sales of precision resistors and strain gages in that market. Sensors gross profit margin was 32.4%, down from 33.6% a year earlier and up from 31.5% in the prior quarter. Adjusted Sensors gross margin was 32.6%, excluding $0.1 million of start-up costs. The company said the year-over-year margin decline was primarily due to unfavorable foreign currency and higher manufacturing costs, partially offset by higher volume; the sequential rise was primarily due to higher volume, partially offset by higher manufacturing costs.

Weighing Solutions moved the other way. Adjusted bookings of $28.6 million were flat sequentially, for a book-to-bill of 1.06. Adjusted net revenues of $26.9 million decreased 2.2% from $27.5 million a year earlier and 11.3% from $30.3 million in the second quarter. The company said the year-over-year decline was mainly lower sales in Industrial Weighing; sequentially, adjusted net revenues decreased in Transportation, Industrial Weighing and General Industrial. Gross profit margin was 37.6%, down from 40.3% a year earlier and up from 37.3% in the prior quarter. Adjusted gross margin was 34.6% excluding $0.1 million of start-up costs. The company said the year-over-year adjusted margin decline was primarily due to unfavorable product mix and reduction in inventory; the sequential adjusted margin decline primarily reflected lower volume.

Measurement Systems bookings of $22.2 million grew 18.6% sequentially, for a book-to-bill of 1.01. Revenues of $22.1 million increased 7.6% from $20.6 million a year earlier and 9.7% from $20.2 million in the second quarter. The company said the year-over-year increase was primarily higher revenue in the AMS market; sequentially, it was primarily due to higher sales in Steel. Gross profit margin was 56.5%, up from 50.5% a year earlier and from 52.5% in the prior quarter, which the company attributed primarily to higher volume and favorable product mix.

GAAP gross profit margin was 40.2% versus 40.3% a year earlier; adjusted gross profit margin was 39.3% versus 40.5%. Operating margin was 3.2% versus 12.7%; adjusted operating margin was 4.9% versus 6.9%. Third-quarter operating income included $3.4 million related to unfavorable currency exchange rates compared with the prior year. Diluted net earnings were $0.04 a share versus $0.59 a year earlier; adjusted diluted net earnings were $0.14 a share versus $0.30. A GAAP adjusted tax rate of 48% was higher than the first-half 2026 runrate due to a shift in the geographic mix of income, which reduced diluted net earnings per share by $0.03.

Adjusted EBITDA was $8.2 million with a 9.4% margin, up from $5.5 million and a 6.5% margin in the second quarter. Adjusted free cash flow was $5.5 million. Shoshani said the company generated $5.5 million of adjusted free cash flow and that cost-savings initiatives continued on pace to achieve $6 million of savings targeted for 2026. On humanoid robots, the company said it is preparing for an anticipated production ramp, with timing aligned to a customer’s updated production schedule.

For the fourth fiscal quarter of 2026 at constant third-quarter foreign currency exchange rates, the company expects net revenues of $84 million to $91 million. Guidance excludes fourth-quarter tariff refunds to customers, which the company said will have no impact on profits. Shoshani said that given continued strong order activity and a growing backlog, the company sees revenue momentum into 2027 and expects to realize the operating leverage in its target model as revenues continue to grow.