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Sep 30, 2021
Knowles Q3 2021 Earnings Report
Knowles' financial performance exceeded expectations, driven by strong growth in Audio and Precision Devices segments, and delivered cash from operations.
Key Takeaways
Knowles Corporation reported Q3 2021 financial results with non-GAAP gross margins at the high end of guidance and non-GAAP EPS above the range. Revenue increased, particularly in the Audio segment due to Hearing Health and MEMS microphone sales, and Precision Devices achieved record revenues. The company also delivered $56 million in cash from operations.
Q3 non-GAAP gross margins were at the high end of the guidance range.
Q3 non-GAAP EPS was above the guidance range.
Audio revenue increased 8% year-over-year, driven by Hearing Health and MEMS microphone sales.
Precision Devices achieved record revenues, up 35% year-over-year.
Knowles
Knowles
Forward Guidance
For the fourth quarter of 2021, Knowles expects favorable product mix and strong operating leverage to drive earnings above the year ago period.
Positive Outlook
- Favorable product mix is expected.
- Strong operating leverage is anticipated.
- Earnings are projected to be above the year ago period.
- Gross Profit Margin 39.0% to 41.0%
- EPS $0.32 to $0.34