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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.
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.