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Sep 24, 2021
Allegro MicroSystems Q2 2022 Earnings Report
Achieved record quarterly revenue and profitability.
Key Takeaways
Allegro MicroSystems reported a record quarterly revenue of $193.6 million, a 42% increase year-over-year. The company's gross margin and earnings per share also reached record highs, driven by strength in industrial and other end markets.
Total net sales of $193.6 million exceeded expectations due to strength in industrial and other end markets.
Automotive net sales of $126.0 million were up 41% year-over-year.
Record Industrial net sales of $36.3 million were up 68% year-over-year.
Earnings per share exceeded expectations, with GAAP diluted EPS increasing to $0.17 in Q2 and non-GAAP diluted EPS increasing by 11% sequentially to $0.20.
Allegro MicroSystems
Allegro MicroSystems
Allegro MicroSystems Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.com Forward Guidance
For the third quarter ending December 24, 2021, the Company expects total net sales to be in the range of $180 million to $185 million and non-GAAP earnings per diluted share for the same period are expected to be in the range of $0.18.
Positive Outlook
- Supply recovery is already underway giving us confidence in a return to growth in Q4
- Confidence in revenue growth of about 28% in fiscal 2022.
- Based on strong end market positioning
- Based on business fundamentals
- Based on design win momentum
Challenges Ahead
- Temporary COVID-related supply chain disruptions affecting fiscal Q3
- Anticipated sequential decline reflects the impact of COVID-related shutdowns of third-party factories in Malaysia that occurred recently.
- Total net sales to be in the range of $180 million to $185 million for the third quarter ending December 24, 2021
- Non-GAAP gross margin for the third quarter is expected to remain about flat to the new higher levels
- Non-GAAP earnings per diluted share for the same period are expected to be in the range of $0.18