Knowles Q2 revenue $204.7M (+18% YoY); non-GAAP EPS $0.24, in line; Q3 guidance $210-220M

Knowles Corp

2024-Q2 EPS reported -$2.87 revenue$401,100,000

Q2 revenue $204.7M (+18% YoY); GAAP diluted EPS -$2.90 includes $2.77 goodwill impairment for Consumer MEMS Microphones unit.
Non-GAAP diluted EPS $0.24 (Q2 2023: $0.23); net cash from operations $24.9M, within guided range.
Company repurchased shares and reduced debt in Q2; cash generation remained strong.
Q3 2024 guidance: revenue $210-220M, non-GAAP EPS $0.29-$0.33, net cash from ops $35-45M.
CEO cites portfolio shift to higher-value markets; expects sequential revenue growth in Medtech/Specialty Audio and Precision Devices in Q3.

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