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Jun 30, 2024
Knowles Q2 2024 Earnings Report
Knowles' Q2 2024 financial performance was reported, showing revenue growth and strong cash generation.
Key Takeaways
Knowles reported Q2 2024 financial results with revenues of $204.7 million, an 18% increase year-over-year, and net cash from operating activities of $24.9 million. Non-GAAP diluted earnings per share were $0.24, in line with expectations. The company expects revenue growth in Medtech and Specialty Audio and Precision Devices segments in Q3 2024.
Revenues increased 18% year-over-year to $204.7 million.
Non-GAAP diluted earnings per share were $0.24.
Net cash from operating activities was $24.9 million.
Company expects sequential and year-over-year revenue growth in Medtech and Specialty Audio and Precision Devices segments in Q3 2024.
Forward Guidance
The forward looking guidance for the quarter ending September 30, 2024 is as follows: Revenues $210 to $220 million, Diluted earnings per share $0.20 to $0.24, Net cash provided by operating activities $35 to $45 million.
Positive Outlook
- Revenues are expected to be $210 to $220 million
- Diluted earnings per share are expected to be $0.20 to $0.24
- Non-GAAP diluted earnings per share are expected to be $0.29 to $0.33
- Net cash provided by operating activities is expected to be $35 to $45 million
- Q3 2024 GAAP results are expected to include approximately $0.07 per share in stock-based compensation expense
Challenges Ahead
- Q3 2024 GAAP results are expected to include approximately $0.06 per share in intangibles amortization expense
- Q3 2024 GAAP results are expected to include approximately $0.01 per share in acquisition-related costs
- Expected stock-based compensation expense of $0.07 per share
Historical Earnings Impact
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Avg. Return Before/After Earnings
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