Magnachip Q3 2023 revenue $61.2M inline; GAAP loss $0.13/sh, cash $166.6M no debt

MAGNACHIP SEMICONDUCTOR Corp

2023-Q3 EPS reported -$0.73 revenue$179,229,000

Revenue $61.2M in-line; GAAP diluted EPS -$0.13, non-GAAP -$0.04; operating loss $9.2M.
Gross margin 23.6% up 140bp QoQ; Power Solutions revenue $45.2M (+8.4% QoQ, -19.9% YoY).
Ended Q3 with $166.6M cash, zero debt; repurchased $5.4M stock during quarter.
Internal separation of Display and Power businesses expected effective Jan 1, 2024.
CEO expects soft demand from Q4 seasonality and inventory correction; maintains long-term OLED optimism.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MAGNACHIP SEMICONDUCTOR Corp reported the third quarter ended September 30, 2023 results: revenue $61.2 million, EPS GAAP diluted loss per share was $0.13.

Period: the third quarter ended September 30, 2023
Revenue: $61.2 million
EPS: GAAP diluted loss per share was $0.13
Result: reported results

Exact text from the filing

Magnachip Reports Results for Third Quarter 2023 • Revenue of $61.2 million was in-line with guidance. • Gross profit margin of 23.6% increased 140 basis points from Q2, mainly driven by higher fab utilization. • GAAP diluted loss per share was $0.13.

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Source: SEC EDGAR

accession 0001193125-23-269394

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