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Feb 24, 2023
Penguin Solutions Q2 2023 Earnings Report
SGH's financial performance reflected resilience, marked by a strong non-GAAP gross margin and non-GAAP EPS that exceeded guidance.
Key Takeaways
SMART Global Holdings (SGH) reported Q2 fiscal year 2023 results with net sales of $429 million. The company's non-GAAP EPS was $0.76, exceeding the high end of its guidance range, and it held $376 million in cash and cash equivalents.
Net sales reached $429 million, a decrease of 4.5% compared to the previous year's quarter.
GAAP gross margin increased to 25.7%, a 60 basis points rise year-over-year.
Non-GAAP gross margin was 28.9%, showing a 290 basis points increase compared to the prior year.
The company held $376 million in cash and cash equivalents.
Forward Guidance
SGH anticipates net sales of $375 million +/- $20 million, a gross margin of 28% +/- 1%, operating expenses of $72 million +/- $3 million, and diluted earnings per share of $0.40 +/- $0.10 for the third quarter of fiscal 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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