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Mar 31, 2022
Knowles Q1 2022 Earnings Report
Knowles delivered strong Q1 2022 results with revenues in line with expectations, and gross margins and EPS above guidance.
Key Takeaways
Knowles reported strong Q1 2022 financial results with revenues in line with expectations, and gross margins and EPS above the high end of guidance. The company's Precision Devices segment saw a 47% increase in revenue compared to the previous year, driven by demand across the defense, industrial, and medtech markets. The board also approved a $150 million increase to the share repurchase program.
Knowles delivered strong results with revenues in line with expectations, and gross margins and EPS above the high end of their guidance.
Precision Devices segment revenues increased 47% compared to a year ago, with an all-time high in bookings.
The Board approved a $150 million increase to the share repurchase program.
The company expects to deliver a year-over-year increase in revenue and earnings for full year 2022.
Forward Guidance
The forward looking guidance for the quarter ending June 30, 2022 is as follows: Revenues $195 to $205 million, Gross Profit Margin 40.7% to 41.7%, EPS $0.20 to $0.24.
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