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Mar 01, 2024
Penguin Solutions Q2 2024 Earnings Report
Reported financial results, showing a slight increase in net sales and mixed EPS performance compared to the previous quarter.
Key Takeaways
SGH reported second quarter fiscal 2024 results with net sales of $284.8 million, a 3.9% increase sequentially. GAAP EPS was $(0.26) and non-GAAP EPS was $0.27.
Net sales increased by 3.9% compared to the prior quarter, reaching $284.8 million.
GAAP gross margin was 28.8%, a decrease from 30.2% in the prior quarter.
Non-GAAP gross margin was 31.5%, a decrease from 33.3% in the prior quarter.
Non-GAAP EPS increased to $0.27 from $0.24 in the prior quarter.
Revenue by Segment
Forward Guidance
SGH is providing financial outlook for the third quarter of fiscal 2024 with net sales expected to be $300 million +/- $25 million and diluted earnings per share to be $0.30 +/- $0.15.
Positive Outlook
- Net sales are expected to be $300 million +/- $25 million.
- Gross margin is expected to be 32% +/- 1.5%.
- Operating expenses are projected to be $66 million +/- $2 million.
- Diluted earnings per share are anticipated to be $0.30 +/- $0.15.
- Diluted shares are expected to be 54.4 million.
Challenges Ahead
- GAAP diluted earnings per share are projected to be $(0.07) +/- $0.15.
- Operating expenses are expected to be $80 million +/- $2 million (GAAP).
- Gross margin is expected to be 29% +/- 1.5% (GAAP).
- Diluted shares are expected to be 52.6 million (GAAP).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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