Diodes Q3 revenue $404.6M, down 22% YoY; guides Q4 revenue ~$325M

DIODES INC /DEL/

2023-Q3 EPS reported $4.36 revenue$1,339,040,000

GAAP EPS $1.05 (vs $1.88 YoY); non-GAAP EPS $1.13 (vs $2.00 YoY); GAAP net income $48.7M.
Revenue down 13.4% QoQ to $404.6M; weak 3C market demand and customer inventory rebalancing.
Automotive+industrial revenue 45% of total, above 40% target model; automotive at record 19%.
Q4 revenue guidance ~$325M (±3%), gross margin ~35% (±1%), citing broad-based slowdown and inventory adjustments.
EBITDA $90.6M (22.4% of revenue) vs $133.5M (28.6%) in Q2 2023; free cash flow $11.6M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DIODES INC /DEL/ reported third quarter ended September 30, 2023 results: revenue $404.6 million, net income $48.7 million, EPS $1.05 per diluted share.

Period: third quarter ended September 30, 2023
Revenue: $404.6 million
Net income: $48.7 million
EPS: $1.05 per diluted share
Result: reported results

Exact text from the filing

2023 -- Diodes Incorporated (Diodes) (Nasdaq: DIOD) today reported its financial results for the third quarter ended September 30, 2023. Third Quarter Highlights • Revenue was $404.6 million, a decrease of 13.4 percent from $467.2 million in the second quarter 2023 and 22.4 percent from $521.3 million in the third quarter 2022; • GAAP gross profit was $155.9 million,

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Source: SEC EDGAR

accession 0000950170-23-061240

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