Allegro MicroSystems Inc · Q2 2023 earnings

Briefing

Allegro MicroSystems achieved a record quarter with sales increasing 23% and earnings expanding 52% year-over-year.

Allegro MicroSystems reported a record quarter in Q2 2023, with total net sales reaching $237.7 million, a 23% increase year-over-year. The company's automotive and industrial net sales also hit record levels, driven by strong demand in E-Mobility and strategic end markets. GAAP diluted earnings per share was $0.26, and non-GAAP diluted EPS was $0.31.

• Total net sales were a record $237.7 million, increasing 23% year-over-year.
• Automotive net sales were a record $157.4 million, increasing 25% year-over-year.
• Industrial net sales were a record $48.2 million, increasing 33% year-over-year.
• GAAP diluted earnings per share was $0.26 and non-GAAP diluted EPS was $0.31.

Headline financials

Revenue & EPS history

For the third quarter ending December 23, 2022, the Company expects total net sales to be in the range of $240 million to $250 million. Non-GAAP gross margin is expected to be approximately 56.0%, non-GAAP operating expenses are anticipated to be approximately 28% of net sales, and non-GAAP earnings per diluted share are expected to be in the range of $0.31 to $0.33.