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May 31, 2024
Penguin Solutions Q3 2024 Earnings Report
Reported sequential revenue growth, driving GAAP EPS of $0.10 and Non-GAAP EPS of $0.37.
Key Takeaways
SMART Global Holdings, Inc. reported Q3 fiscal 2024 financial results with net sales of $300.6 million, a GAAP gross margin of 29.6%, and a GAAP EPS of $0.10. Non-GAAP EPS was $0.37, reflecting a 37% increase quarter over quarter.
Net sales reached $300.6 million, up 5.5% versus the prior quarter.
GAAP gross margin was 29.6% compared to 28.8% in the previous quarter.
Non-GAAP gross margin improved to 32.3% from 31.5% in the prior quarter.
GAAP EPS was $0.10, an increase from $(0.26) in the prior quarter.
Revenue by Segment
Forward Guidance
SGH provides financial outlook for the fourth quarter of fiscal 2024, with net sales expected to be $325 million +/- $25 million and diluted earnings per share of $0.03 +/- $0.15 (GAAP) or $0.40 +/- $0.15 (Non-GAAP).
Positive Outlook
- Net sales are projected at $325 million +/- $25 million.
- Gross margin is expected to be 29.5% +/- 1.5% (GAAP) and 31.5% +/- 1.5% (Non-GAAP).
- Operating expenses are estimated at $81 million +/- $2 million (GAAP) and $66 million +/- $2 million (Non-GAAP).
- Diluted earnings per share are forecasted at $0.03 +/- $0.15 (GAAP).
- Diluted earnings per share are forecasted at $0.40 +/- $0.15 (Non-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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