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Dec 29, 2023
Allegro MicroSystems Q3 2024 Earnings Report
Allegro MicroSystems reported third quarter results with net sales up 2% year-over-year, driven by automotive sales growth.
Key Takeaways
Allegro MicroSystems announced Q3 2024 net sales of $255 million, a 2% increase year-over-year. Automotive sales drove growth with an 18% increase. Non-GAAP EPS was $0.32, and free cash flow increased significantly.
Net sales reached $255 million, up 2% year-over-year.
Automotive sales grew by 18% year-over-year, driven by e-Mobility applications.
Non-GAAP EPS was $0.32, exceeding guidance.
Free cash flow increased substantially sequentially.
Revenue by Segment
Forward Guidance
For the fourth quarter ending March 29, 2024, the Company expects net sales to be in the range of $230 million to $240 million. The Company also estimates the following results on a non-GAAP basis: •Gross Margin is expected to be between 53% and 54%, Gross Margin is expected to be between 53% and 54%, •Operating Expenses are expected to be approximately 31% of sales, and Operating Expenses are expected to be approximately 31% of sales, and •Diluted Earnings per Share is expected to be in the range of $0.19 to $0.23. Diluted Earnings per Share is expected to be in the range of $0.19 to $0.23.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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