earnings
confidence high
sentiment negative
materiality 0.80
Knowles Q2 revenue $188M, EPS $(2.64) GAAP / $0.33 non-GAAP; announces restructuring to cut MEMS exposure
Knowles Corp
2022-Q2 EPS reported
-$2.44
revenue$389,400,000
- Q2 revenue $188.0M, down 6% YoY; GAAP net loss $2.64/sh includes $239.8M goodwill impairment.
- Non-GAAP EPS $0.33 beats Q2 2021 $0.31; Precision Devices & Hearing Health both up 19% YoY.
- Restructuring program: $35-45M charges (cash $23-28M), $25-30M annual savings, complete Q4 2022.
- Q3 guidance: revenue $170-185M, non-GAAP gross margin 37-39%, non-GAAP EPS $0.17-0.21.