Loading...
•
Dec 31, 2023
MagnaChip Q4 2023 Earnings Report
MagnaChip's Q4 2023 performance reflected revenue near the low end of guidance, secured design wins, and completed business separation.
Key Takeaways
MagnaChip reported Q4 revenue of $50.8 million and a gross profit margin of 22.7%. The company ended the quarter with $158.1 million in cash and no debt. They secured first design-win and began initial shipment in Q4 for first generation OLED DDIC for after-service market and completed the separation of its Display and Power businesses into MSS and PAS.
Q4 revenue was $50.8 million.
Q4 gross profit margin was 22.7%.
Ended Q4 with cash of $158.1 million and no debt.
Display and Power business separation was completed.
Forward Guidance
For Q1 2024, Magnachip anticipates consolidated revenue between $46 to $51 million. For the full year 2024, the company expects double-digit revenue growth in both MSS and PAS businesses, with consolidated revenue remaining relatively flat to slightly up.
Positive Outlook
- MSS revenue to grow double digits year-over-year.
- PAS revenue to grow double digits year-over-year.
- Consolidated revenue flat-to-up-slightly year-over-year as recovery in MSS and PAS is offset by the phase-out of Transitional Foundry Services.
- MSS revenue to be in the range of $8 to $10 million.
- PAS revenue to be in the range of $35 to $38 million.
Challenges Ahead
- Consolidated revenue to be in the range of $46 to $51 million, including approximately $3 million of Transitional Foundry Services.
- Consolidated gross profit margin between 17% to 20% due to idle capacity expected from the phase-out of Transitional Foundry Services.
- Consolidated gross profit margin to be in the range of 17% to 20%.
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...