Himax Technologies: Q3 2024 Results and Q4 Guidance

Himax Technologies, Inc. (Nasdaq: HIMX), a leading supplier of display drivers and other semiconductor products, has reported its financial results for the third quarter of 2024 and provided guidance for the fourth quarter. The company's Q3 2024 revenues and earnings per share (EPS) both surpassed guidance, while gross margin was in line with expectations. Himax's automotive, AI, WLO, and OLED product lines are expected to drive significant business growth in the coming quarters.

Himax's Q3 2024 revenues reached $222.4 million, a decrease of 7.2% sequentially but significantly above the guidance range of a 12.0% to 17.0% decrease. Gross margin came in at 30.0%, in line with guidance of around 30% but down from 32.0% in the previous quarter. After-tax profit was $13.0 million, or 7.4 cents per diluted ADS, considerably above the guidance range of 1.5 cents to 4.5 cents.

For the fourth quarter of 2024, Himax expects revenues to be flat to slightly down QoQ, with gross margin expected to be flat to slightly up QoQ. Profit per diluted ADS is projected to be in the range of 9.3 cents to 11.0 cents.


Himax's automotive driver sales largely outperformed guidance in Q3 2024, primarily fueled by rush orders from Chinese panel customers following the government's trade-in stimulus announcement. The company's FY24 automotive driver IC sales are projected to grow high-teens YoY, significantly outperforming global automotive growth. Himax's automotive Tcon business is expected to achieve high-teens growth QoQ, driven by secured design-win shipments and contributing to nearly 4% of total sales.


The emergence of AI PCs is prompting display upgrades towards OLED displays and displays equipped with touch features, benefiting Himax Technologies. The company offers a comprehensive range of NB IC products, including state-of-the-art in-cell touch TDDI for LCD NB, on-cell touch control for OLED NB, and next-gen eDP 1.5 display interface for Tcon, applicable to both LCD and OLED panels.

In conclusion, Himax Technologies' Q3 2024 results and Q4 guidance indicate a strong performance driven by its automotive, AI, WLO, and OLED product lines. The company's ability to capitalize on market trends and maintain a diversified product portfolio positions it well for future growth. Investors seeking stable profits and cash flows should consider Himax Technologies as a promising option in the semiconductor sector.