Microchip posts record Q1 net sales of $1.964B, EPS beat; dividend raised 9.1%

MICROCHIP TECHNOLOGY INC

2023-Q1 EPS reported $0.90 revenue$1,963,600,000

Record net sales $1.964B, up 6.5% QoQ and 25.1% YoY; GAAP EPS $0.90 beat guidance of $0.85-$0.86.
Non-GAAP EPS $1.37 (guidance $1.32-$1.36); record gross margin 67.1% non-GAAP.
Record cash flow from operations $840.4M; debt paydown $233.6M in quarter; cumulative $5.21B over 16 quarters.
Quarterly dividend increased 9.1% to $0.301/share (up 37.8% YoY); $195.2M shares repurchased in Q1.

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