Supermicro Q3 2022 Earnings Report
Key Takeaways
Supermicro reported Q3 2022 net sales of $1.36 billion, a gross margin of 15.5%, and net income of $77 million, with diluted net income per share of $1.43 and non-GAAP diluted net income per share of $1.55.
Net sales reached $1.36 billion, compared to $896 million in the same quarter last year.
Gross margin was 15.5%, up from 13.7% in the same quarter last year.
Net income increased to $77 million, significantly higher than the $18 million reported in the same quarter of the previous year.
Diluted net income per common share rose to $1.43, a substantial increase from the $0.35 reported in the same quarter last year.
Supermicro
Supermicro
Forward Guidance
For the fourth quarter of fiscal year 2022, Supermicro expects net sales between $1.4 billion and $1.48 billion, with GAAP net income per diluted share between $1.45 and $1.64, and non-GAAP net income per diluted share between $1.51 and $1.69.
Positive Outlook
- Net sales are projected to be between $1.4 billion and $1.48 billion.
- GAAP net income per diluted share is expected to be in the range of $1.45 to $1.64.
- Non-GAAP net income per diluted share is forecasted to be between $1.51 and $1.69.
- Full fiscal year 2022 net sales guidance raised to a range of $4.96 billion to $5.04 billion.
- Full fiscal year 2022 GAAP net income per diluted share guidance raised to a range of $4.16 to $4.35.
Challenges Ahead
- GAAP net income per diluted share includes approximately $8.0 million in expected stock-based compensation expense.
- GAAP net income per diluted share includes approximately $1.0 million in other expenses.
- Assumed tax rate of approximately 17.4% for GAAP net income per diluted share.
- Assumed tax rate of approximately 19.4% for non-GAAP net income per diluted share.
- Fully diluted share count of 54.3 million shares for GAAP.