Loading...
•
Dec 31, 2021
Knowles Q4 2021 Earnings Report
Reported strong Q4 results driven by favorable product mix and higher Precision Devices and Hearing Health sales.
Key Takeaways
Knowles Corporation announced strong Q4 2021 financial results with GAAP and non-GAAP gross margins and EPS above the high end of their guidance range. Favorable product mix, driven by higher Precision Devices and Hearing Health sales, contributed to the positive results. The company's Adjusted EBIT margins exceeded 20%, and strong free cash flow for the full year enabled them to fully repay their convertible notes.
Q4 Gross Margin of 43.1% and Non-GAAP Gross Margin of 43.3%.
Q4 Diluted EPS of $0.98 and Non-GAAP Diluted EPS of $0.48.
Precision Devices bookings and sales were up about 40 percent from the year ago period.
FY Cash from Operations of $182 million and Free Cash Flow of $134 million.
Knowles
Knowles
Forward Guidance
For the first quarter of 2022, Knowles expects favorable product mix and improved operating leverage to drive non-GAAP gross margin and earnings above the year ago period.
Positive Outlook
- Expects favorable product mix.
- Improved operating leverage.
- Drive non-GAAP gross margin above the year ago period.
- Drive earnings above the year ago period.
- Confident in progression towards mid-term financial targets.