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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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