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Sep 30, 2020
Knowles Q3 2020 Earnings Report
Knowles' Q3 2020 financial results were reported, with better-than-expected sales driven by audio and cash from operations of $28 million.
Key Takeaways
Knowles Corporation reported a 35% sequential sales growth due to strong MEMS microphone demand and higher shipments in the hearing health market. Q3 non-GAAP earnings exceeded guidance, and the company anticipates sequential growth in revenue, earnings, and cash flow in Q4, driven by increased MEMS microphone and hearing health demand.
Delivered 35 percent sequential sales growth driven by stronger-than-expected MEMS microphone demand.
Q3 non-GAAP earnings were above the high end of guidance range.
Continued to deliver strong cash from operations.
Anticipate another quarter of sequential growth in revenue, earnings and cash flow driven by increased MEMS microphone and hearing health demand.
Knowles
Knowles
Forward Guidance
For the quarter ending December 31, 2020, Knowles expects revenues between $210 to $225 million, gross profit margin between 35.0% to 37.0% (GAAP) and 36.0% to 38.0% (Non-GAAP), and EPS between $0.19 to $0.25 (GAAP) and $0.27 to $0.33 (Non-GAAP).
Positive Outlook
- Revenue between $210 to $225 million
- Gross Profit Margin 35.0% to 37.0% (GAAP)
- Gross Profit Margin 36.0% to 38.0% (Non-GAAP)
- EPS $0.19 to $0.25 (GAAP)
- EPS $0.27 to $0.33 (Non-GAAP)