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Dec 31, 2022
Knowles Q4 2022 Earnings Report
Reported Q4 and full year 2022 financial results and provided outlook for Q1 2023.
Key Takeaways
Knowles Corporation reported Q4 2022 financial results, with non-GAAP gross margins, adjusted EBIT margins, and free cash flow at or above the high end of the guided range. Precision Devices and MedTech & Specialty Audio segments delivered strong results, driving the performance. The company anticipates continued weak consumer end market demand and customer inventory adjustments through the end of Q1 2023.
Q4 Gross Margin at High-End of Guided Range.
Q4 Non-GAAP Gross Margin Above High-End of Guided Range.
Weak Consumer End-Market Demand Continues in Q1.
$400 million Senior Secured Revolving Credit Facility Extended to 2028.
Knowles
Knowles
Forward Guidance
The forward looking guidance for the quarter ending March 31, 2023 on a continuing operations basis is as follows: Revenues $140 to $155 million, Gross Profit Margin 32.0% to 35.0%, EPS $0.01 to $0.07