Microchip posts record Q2 FY2023 net sales of $2.07B, EPS beat; raises dividend 9%

MICROCHIP TECHNOLOGY INC

2023-Q2 EPS reported $1.88 revenue$4,036,800,000

Record net sales $2.073B (+5.6% QoQ, +25.7% YoY); GAAP EPS $0.98 vs guidance $0.94-0.95.
Non-GAAP EPS $1.46 vs guidance $1.42-1.46; record gross margin 67.4% GAAP, 67.7% non-GAAP.
Declared $0.328/share quarterly dividend (+9% QoQ, +41.4% YoY); paid down $264.9M debt in quarter.
Repurchased $247.2M of stock at avg $68.18; cumulative $868M over four quarters.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MICROCHIP TECHNOLOGY INC reported financial results for the three months ended September 30, 2022.

Period: the three months ended September 30, 2022
Result: reported results

Exact text from the filing

On November 3, 2022, we announced the results of our operations for the second quarter of fiscal year 2023. The complete release is attached to this report as Exhibit 99.1.

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Source: SEC EDGAR

accession 0000827054-22-000192

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