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Sep 30, 2024
Knowles Q3 2024 Earnings Report
Reported financial results for Q3 2024 and provided outlook for Q4 2024.
Key Takeaways
Knowles Corporation reported strong Q3 2024 results, with revenues from continuing operations increasing by 32% year-over-year to $143 million, and net cash from operations of $53 million, exceeding the high end of the guided range. The company also signed a definitive agreement to sell the Consumer MEMS Microphones business, furthering its strategic transition to higher value markets.
Revenues from continuing operations increased 32% year-over-year to $143 million.
Net cash from operations was $53 million, exceeding the high end of the guided range.
Signed a definitive agreement to sell the Consumer MEMS Microphones business.
Delivered sequential and year over year revenue growth in Medtech & Specialty Audio and Precision Devices segments.
Forward Guidance
The forward looking guidance for the quarter ending December 31, 2024 on a continuing operations basis with the exception of Net cash provided by operating activities is as follows: Revenues from continuing operations $141 to $151 million, Diluted earnings per share from continuing operations $0.12 to $0.16, Net cash provided by operating activities $30 to $40 million.
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