Loading...
•
Dec 31, 2023
Knowles Q4 2023 Earnings Report
Knowles' financial performance was in line with expectations, with revenue up 9% year over year and net cash from operating activities above the high end of guidance.
Key Takeaways
Knowles Corporation reported Q4 2023 financial results, with revenue of $215 million, a 9% increase compared to Q4 2022. Net cash from operating activities was $60 million, exceeding the high end of the guidance. The company completed the acquisition of Cornell Dubilier in Q4 and anticipates strong organic growth in Q1 2024.
Revenue of $215 million was up 9% versus the fourth quarter of 2022.
Net Cash from Operating Activities of $60 million, which was well above the high end of the guidance.
Successfully completed the acquisition of Cornell Dubilier.
Made significant progress in transitioning our company’s portfolio to higher value markets and products.
Forward Guidance
For the quarter ending March 31, 2024, Knowles anticipates revenues between $190 to $200 million and diluted earnings per share between $0.02 to $0.06 (GAAP) and $0.16 to $0.20 (Non-GAAP).
Positive Outlook
- Strong year over year organic growth despite excess channel inventory in some of our end markets.
- The Cornell Dubilier acquisition is anticipated to further add to growth and profitability.
- Revenue is expected to be up 35%.
- Non-GAAP Diluted EPS is expected to grow significantly from first quarter 2023 levels.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...