Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...