Knowles Q2 revenue $173M, Non-GAAP EPS $0.23; Q3 outlook lowered on soft demand

Knowles Corp

2023-Q2 EPS reported $0.09 revenue$317,300,000

Q2 revenue $173.0M, down from $188.0M YoY; GAAP diluted EPS $0.15, Non-GAAP $0.23.
Q2 gross margin 42.6% GAAP (42.0% Non-GAAP) exceeded guided range high-end.
MSA segment beat expectations as customer inventories declined; PD missed due to channel inventory and defense timing.
Q3 guidance: revenue $170–180M, Non-GAAP EPS $0.26–$0.30, below prior expectations.
CEO cites extended softness in PD and smartphone challenges; expects MSA YoY growth in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Knowles Corp reported the quarter ended June 30, 2023 results: revenue $173.0, EPS $0.15. Guidance lowered.

Period: the quarter ended June 30, 2023
Revenue: $173.0
EPS: $0.15
Guidance: lowered
Result: reported results

Exact text from the filing

following table highlights the Company’s financial performance on both a GAAP and supplemental non-GAAP basis (in millions, except per share data): Q2-23 Q1-23 Q2-22 Revenues $173.0 $144.3 $188.0 Gross profit $73.7 $53.8 $77.7 (as a % of revenues) 42.6% 37.3% 41.3% Non-GAAP gross profit $72.7 $54.4 $78.1 (as a % of revenues) 42.0% 37.7% 41.5% Diluted earnings

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Source: SEC EDGAR

accession 0001587523-23-000070

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