Allegro MicroSystems Inc · Q3 2023 earnings

Briefing

Achieved a record quarter with sales increasing 33% and earnings expanding 96% Y-o-Y led by continued strength in E-Mobility.

Allegro MicroSystems reported a record fiscal third quarter 2023 with total net sales of $248.8 million, a 33% year-over-year increase. Automotive net sales were a record $170.1 million, up 30.1% year-over-year, while Industrial net sales reached a record $51.0 million, increasing 59.9% year-over-year. GAAP and non-GAAP diluted earnings per share were $0.33 and $0.35, respectively.

• Total net sales were a record $248.8 million, increasing 33% year-over-year.
• Automotive net sales were a record $170.1 million, increasing 30.1% year-over-year.
• Industrial net sales were a record $51.0 million, increasing 59.9% year-over-year.
• GAAP and non-GAAP diluted earnings per share was $0.33 and $0.35, respectively.

Headline financials

Revenue & EPS history

For the fourth quarter ending March 31, 2023, the Company expects total net sales to be in the range of $260 million to $270 million. Non-GAAP gross margin is expected to be approximately 57.0%, non-GAAP operating expenses are anticipated to be between 27 percent and 28 percent of net sales, and non-GAAP earnings per diluted share are expected to be in the range of $0.35 to $0.37.