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Jun 30, 2022
MagnaChip Q2 2022 Earnings Report
Magnachip reported a revenue of $101.4 million and non-GAAP diluted EPS of $0.23.
Key Takeaways
Magnachip reported revenue of $101.4 million and non-GAAP diluted EPS of $0.23 for Q2 2022. The company faced challenges including OLED wafer shortages and a slowdown in the smartphone market, but the Board of Directors reaffirmed the $37.5 million stock repurchase program.
Revenue was $101.4 million, down 2.6% sequentially and 11.0% year-over-year.
GAAP diluted loss per share was $0.07.
Non-GAAP diluted earnings per share (EPS) was $0.23.
Gross profit margin was 28.6%.
Forward Guidance
The Company’s near-term outlook is being challenged by further OLED wafer shortages, pushout of initial mass production ramp of our new OLED customer outside of Korea, weakening demand in consumer end markets on growing recession fears and cost increases, including labor, due to inflationary pressures.
Challenges Ahead
- OLED wafer shortages
- Pushout of initial mass production ramp of our new OLED customer outside of Korea
- Weakening demand in consumer end markets on growing recession fears
- Cost increases, including labor, due to inflationary pressures
Historical Earnings Impact
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Avg. Return Before/After Earnings
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