NYSE$KN

Knowles Corporation · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Knowles reported Q1 2024 financial results, with revenue above the midpoint of the guided range and net cash from operations above the high end of the guided range.

Knowles Corporation announced strong Q1 2024 results, with all three segments delivering double-digit revenue growth year-over-year. Non-GAAP diluted earnings per share were at the high end of the guided range, and net cash from operating activities exceeded the high end of guidance. The company expects sequential revenue and earnings growth in Q2 2024.

  • Q1 2024 revenue reached $196 million, exceeding the midpoint of the guided range.
  • Net cash from operations in Q1 2024 was $17 million, surpassing the high end of the guided range.
  • All three segments achieved double-digit revenue growth year-over-year in Q1 2024.
  • Non-GAAP diluted earnings per share were at the high end of the guided range.

Headline financials

Total Revenue

$196M

Previous: $144M+36.1%
EPS

$0.03

Previous: $0.05-40.0%
Gross Margin

39.9%

No prior period
Non-GAAP Gross Margin

43.4%

No prior period
Adjusted EBITDA Margin

21.4%

No prior period
Net Cash from Ops

$17.3M

No prior period
Capital Expenditures

-$3.4M

Previous: -$3.9M+12.8%
Free Cash Flow

-$900K

Previous: -$9.1M+90.1%
Net Income

$2.5M

Previous: -$5.2M+148.1%
Operating Income

$4.3M

Previous: -$1M+530.0%
Gross Profit

$69.9M

Previous: $53.8M+29.9%
Cash & Equivalents

$122M

Previous: $52M+134.8%
Total Assets

$1.48B

Previous: $1.2B+24.1%
R&D Expense

$20.6M

No prior period
Stock-Based Comp

$6.7M

Previous: $7.8M-14.1%

Revenue & EPS history

Knowles · Revenue · Quarterly

$196M

Q1 2024+36.1%vs Q1 2023
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Forward guidance

For the second quarter of 2024, Knowles anticipates revenues between $199 million and $209 million, diluted earnings per share between $0.08 and $0.12, and net cash provided by operating activities between $20 million and $30 million.

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 2024

Historical avgQ1 2024

-0.5%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+2.0%

Avg return

30 days after

54%

29 / 54 earnings

Positive

+22.4%

Q3 2023

Best reaction

-19.3%

Q3 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.4%-2.9%+17.2%
Q4 2025+9.1%+9.1%+0.4%
Q3 2025+0.3%-1.7%-11.1%
Q2 2025-1.7%-1.5%+7.3%
Q1 2025+2.8%+0.6%+3.6%
Q4 2024+0.2%-1.0%-12.2%
Q3 2024+3.5%+5.9%+10.9%
Q2 2024-0.9%-8.0%+2.8%
Q1 2024+2.4%+5.6%+10.7%
Q4 2023-3.7%-2.2%-0.1%
Q3 2023+22.4%+19.3%+23.1%
Q2 2023-9.1%-9.8%-14.4%
Q1 2023+7.9%+4.8%+13.6%
Q4 2022-14.5%-6.2%-13.5%
Q3 2022+5.3%+9.7%+17.4%
Q2 2022-15.2%-15.3%-26.3%
Q1 2022+1.5%+3.8%+5.6%
Q4 2021+4.5%+1.7%-0.1%
Q3 2021+5.1%+4.7%+9.1%
Q2 2021+4.4%+5.2%+6.0%
Q1 2021-0.2%+0.6%-4.2%
Q4 2020+1.7%+2.1%+1.5%
Q3 2020-5.9%+4.1%+13.5%
Q2 2020+10.0%+9.7%+6.1%
Q1 2020-3.3%-5.0%+5.9%
Q4 2019-18.6%-19.9%-18.9%
Q3 2019-2.1%-1.9%-0.3%
Q2 2019+10.8%+12.8%+12.8%
Q1 2019-1.2%+0.2%-12.7%
Q4 2018+1.5%-0.3%+0.2%
Q3 2018+9.0%+4.1%+3.5%
Q2 2018+13.7%+12.9%+12.6%
Q1 2018+9.0%+11.6%+27.7%
Q4 2017-4.5%-3.4%+2.3%
Q3 2017-0.9%+2.9%+4.7%
Q2 2017-6.5%-8.4%-10.9%
Q1 2017-8.0%-9.0%-13.3%
Q4 2016+3.0%+2.7%+0.2%
Q3 2016+3.6%-1.8%+12.1%
Q2 2016-10.4%-14.6%-12.1%
Q1 2016+4.7%
Q4 2015-17.9%
Q3 2015-19.3%
Q2 2015+8.3%
Q1 2015-5.6%
Q4 2014-18.3%
Q3 2013-4.5%
Q3 2014+1.5%
Q2 2013+4.7%
Q2 2014-3.2%
Q4 2013+1.8%
Q4 2012+1.8%
Q1 2013+1.8%
Q1 2014-5.7%
Q3 2012

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