8-K
filed April 27, 2023, 7:59 PM ET
ticker KN
CIK 0001587523
earnings
confidence high
sentiment neutral
materiality 0.65
Knowles Q1 revenue $144.3M, GAAP loss $0.06, non-GAAP EPS $0.05; Q2 outlook $165-180M
Knowles Corp
2023-Q1 EPS reported
-$0.06
revenue$144,300,000
- Q1 revenue fell 28% YoY to $144.3M; GAAP diluted EPS loss $(0.06); Non-GAAP diluted EPS $0.05.
- Gross margin 37.3% GAAP / 37.7% non-GAAP, exceeding high-end of guided range; cash from ops $21.9M.
- Q2 2023 outlook: revenue $165-180M, non-GAAP gross margin 39-41%, non-GAAP EPS $0.20-$0.24.
- CEO expects strong sequential growth; channel inventories improving; return to YoY growth in H2 2023.
- Restructuring charges $1.1M in Q1; cost-savings partially offset low factory capacity utilization.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Knowles Corp reported the quarter ended March 31, 2023 results: revenue $144.3, EPS $(0.06).
- Period
- the quarter ended March 31, 2023
- Revenue
- $144.3
- EPS
- $(0.06)
- Result
- reported results
Exact text from the filing
Financial Highlights The following table highlights the Company’s financial performance on both a GAAP and supplemental non-GAAP basis (in millions, except per share data): Q1-23 Q4-22 Q1-22 Revenues $144.3 $197.1 $201.4 Gross profit $53.8 $75.3 $83.3 (as a % of revenues) 37.3% 38.2% 41.4% Non-GAAP gross profit $54.4 $79.6 $83.8 (as a % of revenues) 37.7% 40.4% 41.6% Diluted (loss) earnings per share* $(0.06) $(2.28) $0.19 Non-GAAP diluted earnings per share $0.05 $0.33 $0.35 Net cash provided by operating activities $21.9 $46.8 $0.8 * Current period results include $7.8 million in stock-based compensation, $1.1 million in restructuring charges, and $2.9 million in intangibles amortization expense that are excluded from non-GAAP results. 1
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Knowles Corp reported the quarter ending June 30, 2023 results: revenue $165.0 to $180.0 million, EPS $0.11 to $0.15. Guidance initiated.
- Period
- the quarter ending June 30, 2023
- Revenue
- $165.0 to $180.0 million
- EPS
- $0.11 to $0.15
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
Second Quarter 2023 Outlook The forward looking guidance for the quarter ending June 30, 2023 is as follows: GAAP Adjustments Non-GAAP Revenues $165.0 to $180.0 million — $165.0 to $180.0 million Gross Profit Margin 38.7% to 40.7% 0.30% 39.0% to 41.0% Diluted EPS $0.11 to $0.15 $0.09 $0.20 to $0.24 Q2 2023 GAAP results are expected to include approximately $0.06 per share in stock-based compensation and $0.03 per share in amortization of intangibles.
View on SEC.gov
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