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Supermicro
🇺🇸 NASDAQ:SMCI
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Mar 31, 2023

Supermicro Q3 2023 Earnings Report

Supermicro announced financial results for the third quarter of fiscal year 2023, showing a decrease in net sales compared to the previous quarter and the same quarter last year, but an increase in gross margin and net income compared to the same quarter last year.

Key Takeaways

Supermicro's Q3 2023 net sales were $1.28 billion, a decrease from both the previous quarter and the same quarter last year. However, the company saw an increase in gross margin and net income compared to the same quarter last year. The company expects net sales of $1.7 billion to $1.9 billion for the fourth quarter of fiscal year 2023.

Net sales reached $1.28 billion.

Gross margin was 17.6%.

Net income amounted to $86 million.

Diluted net income per common share was $1.53.

Total Revenue
$1.28B
Previous year: $1.36B
-5.3%
EPS
$0.163
Previous year: $0.155
+5.2%
Gross Profit
$226M
Previous year: $211M
+7.4%
Cash and Equivalents
$363M
Previous year: $247M
+46.6%
Free Cash Flow
$190M
Previous year: -$239M
-179.6%
Total Assets
$3.19B
Previous year: $3.07B
+4.0%

Supermicro

Supermicro

Forward Guidance

For the fourth quarter of fiscal year 2023, the Company expects net sales of $1.7 billion to $1.9 billion, GAAP net income per diluted share of $2.13 to $2.65 and non-GAAP net income per diluted share of $2.21 to $2.71.

Positive Outlook

  • The Company expects net sales of $1.7 billion to $1.9 billion.
  • GAAP net income per diluted share of $2.13 to $2.65 is expected.
  • Non-GAAP net income per diluted share of $2.21 to $2.71 is expected.
  • Company maintains its guidance for net sales from a range of $6.6 billion to $6.8 billion for fiscal year 2023.
  • GAAP net income per diluted share from a range of $10.14 to $10.66 is expected for fiscal year 2023.

Challenges Ahead

  • The projections for GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 14.7% and 15.7%, respectively.
  • The outlook for Q4 of fiscal year 2023 GAAP net income per diluted share includes approximately $7 million in expected stock-based compensation and other expenses.
  • The projections for annual GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 14.9% and 16.0%, respectively.
  • The outlook for fiscal year 2023 GAAP net income per diluted share includes approximately $33 million in expected stock-based compensation and other expenses.
  • Global economic conditions may impact customer demand.

Company Overview

Full financial data and analysis

View Supermicro