NASDAQ$MCHP
Microchip Technology Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported record financial results for the fourth quarter and fiscal year 2023.
Microchip Technology Incorporated reported record net sales of $2.233 billion for the quarter ended March 31, 2023, up 21.1% from the year-ago quarter. On a non-GAAP basis, record EPS was $1.64 per diluted share. The company paid down $153.0 million of debt and returned approximately $469.8 million to shareholders through dividends and share repurchases.
- Record net sales of $2.233 billion, up 2.9% sequentially and up 21.1% from the year ago quarter.
- Record GAAP EPS of $1.09 per diluted share and record Non-GAAP EPS of $1.64 per diluted share.
- Paid down $153.0 million of debt in the March 2023 quarter, cumulatively paying down $6.3 billion of debt over the last 19 quarters.
- Declared a record quarterly dividend of 38.3 cents per share for the June quarter, an increase of 38.8% from the year ago quarter.
Headline financials
Revenue & EPS history
Microchip · Revenue · Quarterly
$2.23B
Forward guidance
Microchip expects net sales in the June quarter to be up between 1% and 4% sequentially. At the mid-point of our guidance for the June quarter, net sales would be 16.5% higher than the year-ago quarter.
Tailwinds
- Net Sales $2.255 to $2.322 billion
- GAAP Gross Margin 68.0% to 68.2%
- Non-GAAP Gross Margin 68.3% to 68.5%
- GAAP Operating Income 38.7% to 39.4%
- Non-GAAP Operating Income 47.8% to 48.4%
Headwinds
- GAAP Operating Expenses 28.8% to 29.3%
- Non-GAAP Operating Expenses 20.1% to 20.5%
- GAAP Other Expense, net $46.8 to $49.2 million
- Non-GAAP Other Expense, net $47.0 to $49.0 million
- GAAP Income Tax Provision $190.0 to $224.8 million
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 Q4 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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