NASDAQ$DIOD
Diodes Incorporated · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Diodes reported first quarter results with gross margin above 41% for four consecutive quarters, and automotive and industrial sectors reaching a record 47% of product revenue.
Diodes Incorporated reported a revenue of $467.2 million for Q1 2023, a decrease of 3.1% compared to Q1 2022. The GAAP net income was $71.2 million, resulting in a GAAP EPS of $1.54. The company's gross margin remained strong, and automotive and industrial markets reached a record 47% of product revenue.
- Revenue decreased by 3.1% year-over-year to $467.2 million.
- GAAP gross profit was $194.5 million with a gross profit margin of 41.6%.
- GAAP net income was $71.2 million, with an EPS of $1.54 per diluted share.
- Automotive and industrial markets accounted for a record 47% of total product revenue.
Headline financials
Revenue & EPS history
Diodes · Revenue · Quarterly
$467M
Forward guidance
For the second quarter of 2023, Diodes expects revenue to be approximately $467 million, plus or minus 3 percent, and GAAP gross margin to be a record 41.8 percent, plus or minus 1 percent.
Tailwinds
- Revenue expected to be approximately $467 million, plus or minus 3 percent.
- GAAP gross margin is expected to be a record 41.8 percent, plus or minus 1 percent.
- Non-GAAP operating expenses are expected to be approximately 22.0 percent of revenue, plus or minus 1 percent.
- Net interest expense is expected to be approximately $1.0 million.
- Shares used to calculate diluted EPS for the second quarter are anticipated to be approximately 46.5 million.
Headwinds
- Slower than expected recovery in the consumer, computing and communications markets.
- Guiding flat sequentially at the mid-point to reduce the 3C channel inventory.
- Income tax rate is expected to be 20.0 percent, plus or minus 3 percent.
- Potential risks related to the COVID-19 pandemic affecting customer demand and staffing.
- Risks of cyclical downturns in the semiconductor industry and changes in end-market demand.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.7%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+1.5%
Avg return
30 days after
50%
34 / 68 earnings
Positive
+26.4%
Q4 2025
Best reaction
-14.9%
Q3 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -9.4% | -10.2% | |
| Q4 2025 | +26.4% | +15.2% | +3.5% | |
| Q3 2025 | -14.5% | -9.7% | +1.5% | |
| Q1 2025 | +12.1% | +22.0% | +23.7% | |
| Q4 2024 | +3.1% | +4.9% | -9.7% | |
| Q3 2024 | +0.1% | -8.4% | -5.3% | |
| Q2 2024 | +9.4% | +11.7% | +3.6% | |
| Q1 2024 | -7.0% | -3.0% | -4.1% | |
| Q4 2023 | -1.0% | +3.8% | +5.2% | |
| Q3 2023 | -10.9% | -6.9% | +5.7% | |
| Q2 2023 | -7.0% | -8.4% | -10.1% | |
| Q1 2023 | +3.0% | +2.2% | +9.3% | |
| Q4 2022 | +1.3% | +3.4% | +1.2% | |
| Q3 2022 | +5.8% | +16.0% | +21.4% | |
| Q2 2022 | -3.0% | -9.1% | -18.5% | |
| Q1 2022 | -0.2% | -5.6% | -0.6% | |
| Q4 2021 | -0.7% | -5.7% | -12.2% | |
| Q3 2021 | +4.5% | +7.1% | +7.4% | |
| Q2 2021 | +4.2% | +3.8% | +12.4% | |
| Q1 2021 | +2.7% | -1.4% | +5.7% | |
| Q4 2020 | -0.2% | +2.4% | +3.5% | |
| Q3 2020 | -0.3% | +2.2% | +8.7% | |
| Q2 2020 | -0.4% | -0.7% | -8.0% | |
| Q1 2020 | -12.2% | -13.2% | +1.4% | |
| Q4 2019 | +7.6% | +0.7% | -31.5% | |
| Q3 2019 | -3.3% | -5.0% | -2.7% | |
| Q2 2019 | -2.9% | -5.3% | -9.7% | |
| Q1 2019 | +8.3% | +5.1% | -8.8% | |
| Q4 2018 | +12.1% | +16.1% | +3.9% | |
| Q3 2018 | +14.7% | +11.4% | +6.1% | |
| Q2 2018 | +4.1% | +2.6% | -3.2% | |
| Q1 2018 | +11.7% | +8.8% | +22.0% | |
| Q4 2017 | +2.4% | +5.6% | +15.4% | |
| Q3 2017 | -7.5% | -9.4% | -18.8% | |
| Q2 2017 | +0.6% | -0.2% | +2.8% | |
| Q1 2017 | +9.4% | +13.1% | +17.7% | |
| Q4 2016 | +5.4% | +4.6% | -0.7% | |
| Q3 2016 | -5.1% | +1.7% | +19.2% | |
| Q2 2016 | +3.4% | +5.5% | +11.9% | |
| Q1 2016 | +6.7% | — | — | |
| Q4 2015 | -4.0% | — | — | |
| Q3 2015 | -10.2% | — | — | |
| Q2 2015 | -5.0% | — | — | |
| Q1 2015 | -1.0% | — | — | |
| Q4 2014 | -1.0% | — | — | |
| Q3 2014 | -2.0% | — | — | |
| Q2 2014 | -2.6% | — | — | |
| Q1 2014 | +1.5% | — | — | |
| Q4 2013 | +8.6% | — | — | |
| Q3 2013 | -9.9% | — | — | |
| Q2 2013 | -10.3% | — | — | |
| Q1 2013 | +10.3% | — | — | |
| Q4 2012 | +8.7% | — | — | |
| Q3 2012 | -11.0% | — | — | |
| Q2 2012 | -2.7% | — | — | |
| Q1 2012 | -7.2% | — | — | |
| Q4 2011 | -1.6% | — | — | |
| Q3 2011 | -14.9% | — | — | |
| Q2 2011 | +7.9% | — | — | |
| Q1 2010 | -8.5% | — | — | |
| Q1 2011 | +0.5% | — | — | |
| Q4 2008 | -1.7% | — | — | |
| Q4 2010 | -1.7% | — | — | |
| Q3 2009 | +3.4% | — | — | |
| Q3 2010 | +3.4% | — | — | |
| Q2 2009 | +5.4% | — | — | |
| Q4 2009 | +5.4% | — | — | |
| Q2 2010 | +5.4% | — | — |
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