· 个股论点
涉及标的： $VPG
$VPG 发布了财报。简而言之： 营收：8060万美元 vs. 共识预期：约7810万美元（超预期） 调整后每股收益(EPS)：0.07美元 vs. 共识预期：约0.20-0.21美元（不及预期） 毛利率：降至36.8%（去年同期为38.2%）——主要受外汇等一次性因素影响。 值得关注点： 人形机器人板块——其2025全年目标是从“战略增长计划”（机器人、先进传感器）中预订3000万美元订单。 实际：3780万美元——这一预测被大幅超越，超出近800万美元。 其他产品有很多噪音，市场主要应关注人形机器人的增长，看起来正在加速。 当然，这3780万美元的数据是多方面的。 没什么太惊人的，但简而言之： 传统业务（钢铁、称重等）：平均在增长 新业务（人形机器人）：正在快速增长 市场对此反应错误，因为$VPG未来最看涨的板块是人形机器人，且看起来正在加速。 除此之外，虽然不算爆发式增长，但对于强劲的机器人板块超预期是积极的，我将等待电话会议以获取与人形机器人相关的问题解答。
$VPG reported earnings. TLDR: Revenue: $80.6 Million vs. Consensus: ~$78.1 Million (BEAT) Adjusted EPS: $0.07 vs. Consensus: ~$0.20 - $0.21 (MISS) Gross Margin: Fell to 36.8% (down from 38.2% a year ago) - mainly one off like FX. What to look out for: Humanoid section - Their goal for the full year 2025 was to book $30 million in orders from "Strategic Growth Initiatives" (Robots, Advanced Sensors). Actual: $37.8 million - They crushed this projection by nearly $8 million. There’s a lot of noise from other products, main thing markets should be looking out for is humanoid growth, which looks to be ramping up. Of course that $37.8M number is multifaceted. Nothing too amazing but tldr: Legacy Business (Steel, weighing, etc.): Is growing on average New Business (humanoids): Is growing rapidly Markets are taking this the wrong way since the most bullish segment going forward for $VPG is humanoids, and it looks to be ramping up. That aside, not exactly a blowout but positive for strong robotics segment beat, will wait for conference call for humanoids related questions.