NASDAQ$MCHP
Microchip Technology Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported record financial results, driven by robust demand and capacity improvements.
Microchip Technology reported record net sales of $1.964 billion for the first quarter of fiscal year 2023, a 25.1% increase from the year-ago quarter. GAAP EPS was $0.90, and non-GAAP EPS was $1.37. The company also declared a record quarterly dividend of 30.1 cents per share.
- Record net sales of $1.964 billion, up 25.1% from the year-ago quarter.
- GAAP EPS was $0.90 per diluted share, up from $0.45 in the prior year's first fiscal quarter.
- Non-GAAP EPS was $1.37 per diluted share, up from $0.99 in the prior year's first fiscal quarter.
- Record quarterly dividend declared of 30.1 cents per share, an increase of 37.8% from the year-ago quarter.
Headline financials
Revenue & EPS history
Microchip · Revenue · Quarterly
$1.96B
Forward guidance
The company expects net sales in the September quarter to be up between 3% and 7% sequentially. At the mid-point of our guidance for the September quarter, net sales would be 25% higher than the year-ago quarter.
Tailwinds
- Net Sales $2.023 to $2.101 billion
- Gross Margin 66.9% to 67.3%
- Operating Income 34.7% to 35.7%
- Earnings per Diluted Share $0.94 to $0.95
- Non-GAAP Earnings per Diluted Share $1.42 to $1.46
Headwinds
- Other Expense, net $53.4 to $55.8 million
- Income Tax Provision $119.9 to $163.0 million
- GAAP Operating Expenses 31.6% to 32.2%
- Our actual inventory level will depend on the inventory that our distributors decide to hold to support their customers
- Our actual inventory level will depend on overall demand for our products, and our production levels.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+0.9%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+3.3%
Avg return
30 days after
55%
40 / 73 earnings
Positive
+11.2%
Q3 2020
Best reaction
-15.0%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +1.1% | -2.3% | -0.4% | |
| Q3 2026 | -2.6% | +3.5% | -17.0% | |
| Q2 2026 | -5.2% | -6.3% | +10.9% | |
| Q1 2026 | -6.7% | -0.7% | -0.5% | |
| Q4 2025 | -1.0% | -5.2% | +11.4% | |
| Q3 2025 | -2.3% | +1.4% | +12.5% | |
| Q2 2025 | -1.0% | -2.1% | -21.8% | |
| Q1 2025 | -15.0% | -15.9% | -7.5% | |
| Q4 2024 | +0.8% | +0.2% | +3.2% | |
| Q3 2024 | -1.0% | -2.3% | +2.1% | |
| Q2 2024 | +7.6% | +6.0% | +19.2% | |
| Q1 2024 | -7.5% | -6.4% | -8.8% | |
| Q4 2023 | -1.4% | -4.6% | +1.2% | |
| Q3 2023 | +5.2% | +6.6% | +1.8% | |
| Q2 2023 | +5.3% | +11.7% | +27.5% | |
| Q1 2023 | +5.9% | +3.3% | -6.1% | |
| Q4 2022 | +1.0% | -0.8% | +2.0% | |
| Q3 2022 | -7.4% | -4.6% | -14.3% | |
| Q2 2022 | +7.5% | +3.9% | +6.9% | |
| Q1 2022 | +1.7% | +3.3% | +7.8% | |
| Q4 2021 | +2.8% | -0.1% | +6.7% | |
| Q3 2021 | +4.0% | +8.7% | +4.0% | |
| Q2 2021 | +10.6% | +7.6% | +27.3% | |
| Q1 2021 | -6.1% | -5.6% | +3.9% | |
| Q4 2020 | +7.1% | +2.7% | +31.3% | |
| Q3 2020 | +11.2% | +8.9% | -9.1% | |
| Q2 2020 | -4.2% | -3.6% | -3.1% | |
| Q1 2020 | +5.7% | +5.1% | +6.2% | |
| Q4 2019 | -5.1% | -11.2% | -11.1% | |
| Q3 2019 | +8.2% | +5.8% | +2.3% | |
| Q2 2019 | +6.3% | -0.5% | +0.3% | |
| Q1 2019 | -10.6% | -14.0% | -15.0% | |
| Q4 2018 | +3.5% | +4.7% | +15.2% | |
| Q3 2018 | -7.4% | -9.5% | +6.5% | |
| Q2 2018 | -2.4% | -2.2% | -7.8% | |
| Q1 2018 | +4.6% | +6.0% | +10.1% | |
| Q4 2017 | +4.1% | +4.7% | +15.1% | |
| Q3 2017 | +6.7% | +2.5% | +6.2% | |
| Q2 2017 | +6.2% | +4.9% | +7.1% | |
| Q1 2017 | +7.2% | +7.0% | +7.5% | |
| Q4 2016 | -2.0% | — | — | |
| Q3 2016 | -1.0% | — | — | |
| Q2 2016 | -1.8% | — | — | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | +4.0% | — | — | |
| Q3 2015 | -1.4% | — | — | |
| Q2 2015 | +2.1% | — | — | |
| Q1 2015 | -0.5% | — | — | |
| Q4 2014 | +0.3% | — | — | |
| Q3 2014 | +0.5% | — | — | |
| Q2 2014 | +6.6% | — | — | |
| Q1 2014 | +6.2% | — | — | |
| Q4 2013 | +4.0% | — | — | |
| Q3 2013 | +5.6% | — | — | |
| Q2 2013 | -4.7% | — | — | |
| Q1 2013 | +3.3% | — | — | |
| Q4 2011 | -1.1% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q3 2012 | +2.3% | — | — | |
| Q2 2012 | +6.9% | — | — | |
| Q1 2012 | -5.7% | — | — | |
| Q3 2011 | -0.6% | — | — | |
| Q4 2009 | -0.4% | — | — | |
| Q2 2011 | -0.4% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q4 2008 | +3.2% | — | — | |
| Q4 2010 | +3.2% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q3 2009 | +1.4% | — | — | |
| Q2 2010 | +2.8% | — | — | |
| Q1 2009 | -0.4% | — | — | |
| Q2 2009 | -0.4% | — | — | |
| Q1 2010 | -0.4% | — | — |
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