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Mar 31, 2022
Microchip Q4 2022 Earnings Report
Reported record financial results for the fourth quarter and fiscal year 2022.
Key Takeaways
Microchip Technology reported record net sales of $1.844 billion for the quarter ended March 31, 2022, up 25.7% from the year-ago quarter. GAAP EPS was $0.77 per diluted share, while non-GAAP EPS was a record $1.35 per diluted share. The company declared a record quarterly dividend of 27.6 cents per share, up 33.7% from the year-ago quarter.
Record net sales of $1.844 billion, up 25.7% from the year-ago quarter.
GAAP EPS of $0.77 per diluted share.
Non-GAAP EPS was a record $1.35 per diluted share.
Declared a record quarterly dividend of 27.6 cents per share, up 33.7% from the year-ago quarter.
Microchip
Microchip
Forward Guidance
Microchip expects net sales in the June quarter to be up between 4% and 8% sequentially. At the mid-point of guidance, net sales will be 24.6% higher than the year-ago quarter.
Positive Outlook
- Net sales are expected to be $1.918 to $1.992 billion.
- GAAP gross margin is expected to be 66.4% to 66.8%.
- Non-GAAP gross margin is expected to be 66.8% to 67.2%.
- GAAP earnings per diluted share are expected to be $0.85 to $0.86.
- Non-GAAP earnings per diluted share are expected to be $1.32 to $1.36.
Challenges Ahead
- GAAP operating expenses are expected to be 32.6% to 33.2% of net sales.
- GAAP other expense, net, is expected to be $49.8 to $52.2 million.
- GAAP income tax provision is expected to be $108.7 to $147.9 million.
- Capital expenditures for the quarter are expected to be between $120 million and $140 million.
- The forecast for GAAP tax expense excludes any unexpected tax events that may occur during the quarter.