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Jun 30, 2023
Allegro MicroSystems Q1 2024 Earnings Report
Allegro MicroSystems reported a strong start to fiscal year 2024 with record sales and non-GAAP diluted earnings per share.
Key Takeaways
Allegro MicroSystems announced its Q1 2024 results, featuring record sales of $278 million, a 28% increase year-over-year. The company also achieved a record non-GAAP diluted EPS of $0.39, up 63% year-over-year. Sales in strategic growth areas, including e-Mobility and select Industrial markets, grew by 63% year-over-year.
Net sales increased by 28% year-over-year to a new record.
Net sales in strategic growth areas increased by 63% year-over-year.
GAAP diluted earnings per share (EPS) increased by 520% year-over-year.
Non-GAAP diluted EPS increased by 63% year-over-year.
Allegro MicroSystems
Allegro MicroSystems
Allegro MicroSystems Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.com Forward Guidance
For the second quarter ending September 29, 2023, the Company expects total sales to be in the range of $270 million to $280 million. The Company also estimates the following results on a non-GAAP basis: •Gross Margin is expected to be between 56% and 57% •Operating Expenses are anticipated to be between 26% and 27% of sales •Diluted Earnings per Share are expected to be in the range of $0.35 to $0.39
Positive Outlook
- Total sales are expected to be in the range of $270 million to $280 million.
- Gross Margin is expected to be between 56% and 57%.
- Operating Expenses are anticipated to be between 26% and 27% of sales
- Diluted Earnings per Share are expected to be in the range of $0.35 to $0.39