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