Vishay Intertechnology, Inc. (NYSE:VSH) Q2 2022 Earnings Conference Call August 2, 2022 9:00 AM ET
Company Participants
Peter Henrici - Senior Vice President, Corporate Communications
Gerald Paul - President and Chief executive Officer
Lori Lipcaman - Executive Vice President and Chief Financial Officer
Conference Call Participants
Ruplu Bhattacharya - Bank of America
Joshua Buchalter - Cowen
Matt Sheerin - Stifel
Operator
Greetings, and welcome to Vishay's Second Quarter 2022 Earnings Call. [Operator Instructions] Please note, this conference is being recorded.
I would now turn the conference over to Peter Henrici, Senior Vice President and Corporate Communications. Thank you. You may begin.
Peter Henrici
Thank you, Sherry. Good morning, and welcome to Vishay Intertechnology's second quarter 2022 conference call. With me today are Dr. Gerald Paul, Vishay's President and Chief Executive Officer; and Lori Lipcaman, our Executive Vice President and Chief Financial Officer. As usual we will start today's call with the CFO, who will review Vishay's second quarter 2022 financial results. Dr. Gerald Paul will then give an overview of our business and discuss operational performance, as well as segment results in more detail. Finally, we'll reserve time for questions and answers. This call is being webcast from the Investor Relations section of our website at ir.vishay.com. The replay for this call will be publicly available for approximately 30 days, you should be aware that in today's conference call, we will be making certain forward-looking statements that discuss future events and performance. These statements are subject to risks and uncertainties that could cause actual results to differ from the forward-looking statements. For discussion of factors that could cause results to defer, please see today's press release and Vishay’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.
In addition, during this call, we may refer to adjusted or other financial measures that are not prepared according to Generally Accepted Accounting Principles. We use non-GAAP measures because we believe they provide useful information about the operating performance of our businesses, and should be considered by investors in conjunction with GAAP measures that we also provide. On the investor relations section of our website, you can find a presentation of the second quarter 2022 financial information containing some of the operational metrics Dr. Paul will be discussing.
Now I turn the call over to Chief Financial Officer, Lori Lipcaman.
Lori Lipcaman
Thank you, Peter. Good morning, everyone. I am sure that most of you have had a chance to review our earnings press release, I will focus on some highlights and key metrics. Vishay reported revenues for Q2 of $864 million, a quarterly record despite a temporary closure of two key facilities in Shanghai, China for over two months. EPS was $0.78 for the quarter, adjusted EPS was $0.82 for the quarter. We have identified certain charges for the COVID related shutdowns of our facilities in China during Q2. The cost of these government mandated shutdowns in China are incremental too and separable from normal operations. These items impacted cost of goods sold by $6.7 million and selling, general and administrative expenses by $0.5 million and are added that net of tax when calculating our non-GAAP adjusted EPS. We do not include in this amount indirect costs of the pandemic, which are normal cost of doing business in 2022.