Microchip posts record Q3 FY2023: net sales $2.169B, GAAP EPS $1.04, debt paydown $719M

MICROCHIP TECHNOLOGY INC

2023-Q3 EPS reported $2.93 revenue$6,206,000,000

Record net sales $2.169B, up 4.6% sequentially and 23.4% YoY; midpoint guidance was $2.156B.
GAAP: gross margin 67.8%, operating income $811.6M (37.4% of sales), net income $580.3M, diluted EPS $1.04.
Non-GAAP: gross margin 68.1%, operating income $1.030B (47.5% of sales), net income $863.7M, diluted EPS $1.56.
Paid down $719.1M debt in December quarter; cumulative $6.2B over 18 quarters.
Quarterly dividend raised to $0.358/share, up 9.1% sequentially and 41.5% YoY; repurchased 3.1M shares for $229.5M.

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 third quarter of fiscal year 2023 results: revenue $2.169 billion, net income $580.3 million, EPS $1.04 per diluted share.

Period: third quarter of fiscal year 2023
Revenue: $2.169 billion
Net income: $580.3 million
EPS: $1.04 per diluted share
Result: reported results

Exact text from the filing

CONTACT: J. Eric Bjornholt -- CFO..... (480) 792-7804 MICROCHIP TECHNOLOGY ANNOUNCES RECORD FINANCIAL RESULTS FOR THIRD QUARTER OF FISCAL YEAR 2023 • Record net sales of $2.169 billion, up 4.6% sequentially and up 23.4% from the year ago quarter. The midpoint of our guidance provided on November 3, 2022 was net sales of $2.156 billion. • On a GAAP basis: record

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Source: SEC EDGAR

accession 0000827054-23-000019

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