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Sep 23, 2022
Allegro MicroSystems Q2 2023 Earnings Report
Allegro MicroSystems achieved a record quarter with sales increasing 23% and earnings expanding 52% year-over-year.
Key Takeaways
Allegro MicroSystems reported a record quarter in Q2 2023, with total net sales reaching $237.7 million, a 23% increase year-over-year. The company's automotive and industrial net sales also hit record levels, driven by strong demand in E-Mobility and strategic end markets. GAAP diluted earnings per share was $0.26, and non-GAAP diluted EPS was $0.31.
Total net sales were a record $237.7 million, increasing 23% year-over-year.
Automotive net sales were a record $157.4 million, increasing 25% year-over-year.
Industrial net sales were a record $48.2 million, increasing 33% year-over-year.
GAAP diluted earnings per share was $0.26 and non-GAAP diluted EPS was $0.31.
Allegro MicroSystems
Allegro MicroSystems
Allegro MicroSystems Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.com Forward Guidance
For the third quarter ending December 23, 2022, the Company expects total net sales to be in the range of $240 million to $250 million. Non-GAAP gross margin is expected to be approximately 56.0%, non-GAAP operating expenses are anticipated to be approximately 28% of net sales, and non-GAAP earnings per diluted share are expected to be in the range of $0.31 to $0.33.