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Sep 30, 2022
Diodes Q3 2022 Earnings Report
Diodes reported record gross margin for the fifth consecutive quarter, along with record adjusted EPS and revenue for the seventh consecutive quarter.
Key Takeaways
Diodes Incorporated reported record third-quarter financial results, with revenue reaching a record $521.3 million, a 10.6% increase year-over-year. The company also achieved record GAAP gross profit, GAAP net income, and non-GAAP adjusted net income.
Revenue was a record $521.3 million, up 10.6% year-over-year.
GAAP gross profit was a record $217.8 million, a 20.2% increase year-over-year.
GAAP net income was a record $86.4 million, compared to $68.4 million in the third quarter 2021.
Non-GAAP EPS was a record $2.00 per diluted share, a 36.1% improvement year-over-year.
Forward Guidance
For the fourth quarter of 2022, Diodes expects revenue to be approximately $494 million, plus or minus 3 percent. GAAP gross margin is expected to be 41.0 percent, plus or minus 1 percent. Non-GAAP operating expenses are expected to be approximately 21.0 percent of revenue, plus or minus 1 percent.
Positive Outlook
- Revenue to be approximately $494 million, plus or minus 3 percent.
- GAAP gross margin is expected to be 41.0 percent, plus or minus 1 percent.
- Net interest expense to be approximately $4.0 million.
- Income tax rate is expected to be 19.0 percent, plus or minus 3 percent.
- Shares used to calculate diluted EPS for the fourth quarter are anticipated to be approximately 46.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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