NASDAQ$MCHP
Microchip Technology Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Microchip's financial performance was in line with guidance, despite a turbulent macro environment.
Microchip Technology Incorporated reported Q2 2024 financial results with net sales of $2.254 billion, a decrease of 1.5% sequentially but an increase of 8.7% from the previous year. GAAP EPS was $1.21, and Non-GAAP EPS was $1.62. The company also declared a record quarterly dividend of 43.9 cents per share.
- Net sales reached $2.254 billion, down 1.5% sequentially but up 8.7% year-over-year.
- GAAP EPS was $1.21 per diluted share, while Non-GAAP EPS was $1.62 per diluted share.
- The company returned approximately $562.5 million to shareholders through dividends and stock repurchases.
- A record quarterly dividend of 43.9 cents per share was declared for the December quarter, a 33.8% increase from the previous year.
Headline financials
Revenue & EPS history
Microchip · Revenue · Quarterly
$2.25B
Forward guidance
Microchip anticipates net sales in the December quarter to be down 15% to 20% sequentially.
Tailwinds
- Semiconductors remain the engine of innovation for the applications and markets Microchip serves.
- Focus on Total System Solutions and key market megatrends is fueling strong design-win momentum.
- Expectation of above-market long-term growth.
- Selectively adding capital equipment to maintain and grow internal manufacturing capabilities.
- Continued commitment to Total System Solutions.
Headwinds
- Broader economic landscape characterized by decelerating economic activity.
- Escalating business ambiguity.
- Proactive measures to assist clients in managing their inventory positions and backlog.
- Anticipate net sales in the December quarter to be down 15% to down 20% sequentially.
- Turbulent macro environment.
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 Q2 2024
+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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