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Mar 31, 2023
Allegro MicroSystems Q4 2023 Earnings Report
Allegro MicroSystems' Q4 2023 sales increased by 35% and GAAP EPS increased by 138% year-over-year.
Key Takeaways
Allegro MicroSystems reported a strong finish to fiscal year 2023, with record fourth quarter sales of $269 million, up 35% year-over-year and record non-GAAP diluted earnings per share of $0.37, an increase of more than 75% year-over-year.
Delivered record fourth quarter sales of $269 million, up 35% year-over-year.
Achieved record non-GAAP diluted earnings per share of $0.37, an increase of more than 75% year-over-year.
Saw significantly increased design win momentum in fiscal year 2023 with approximately two-thirds of wins coming from strategic growth areas including e-Mobility and Industrial.
E-Mobility increased to 43% of fiscal year 2023 Automotive sales, up from 36% in fiscal year 2022.
Allegro MicroSystems
Allegro MicroSystems
Allegro MicroSystems Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.com Forward Guidance
For the first quarter ending June 30, 2023, the Company expects total sales to be in the range of $270 million to $280 million. The company also estimates the following results on a non-GAAP basis: •Gross margin is expected to be approximately 56% •Operating expenses are anticipated to be between 26% and 27% of sales •Earnings per diluted share are expected to be in the range of $0.35 to $0.39
Positive Outlook
- Total sales to be in the range of $270 million to $280 million.
- Gross margin is expected to be approximately 56%
- Earnings per diluted share are expected to be in the range of $0.35 to $0.39
- Operating expenses are anticipated to be between 26% and 27% of sales
- No reconciliation of its first fiscal quarter outlook for non-GAAP gross margin, non-GAAP operating expenses and non-GAAP earnings per diluted share was provided
Challenges Ahead
- Estimates of all of the reconciling items cannot be provided without unreasonable efforts.
- It is difficult to reasonably provide a forward-looking estimate between such forward-looking non-GAAP measures and the comparable forward-looking GAAP measures.
- Certain factors that are materially significant to Allegro’s ability to estimate these items are out of its control.
- Factors cannot be reasonably predicted.
- Forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions