NYSE$MX
MagnaChip Semiconductor Corp. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
MagnaChip's Q3 2024 financial performance reflected revenue at the high-end of guidance, driven by Standard Product businesses growth.
Magnachip reported Q3 2024 consolidated revenue of $66.5 million, at the high-end of the guidance range. The company's Standard Product business revenue increased by 25.9% sequentially. Consolidated gross profit margin was 23.3%, aligning with guidance. The company ended the quarter with $121.1 million in cash and repurchased approximately 0.5 million shares for $2.5 million.
- Q3 consolidated revenue reached $66.5 million, hitting the high-end of the projected range.
- Standard product business revenue saw a substantial 25.9% sequential increase.
- Consolidated gross profit margin was 23.3%, in line with the expected mid-point.
- The company concluded Q3 with $121.1 million in cash reserves.
Headline financials
Revenue & EPS history
MagnaChip · Revenue · Quarterly
$66.5M
Revenue by segment
MagnaChip · $9.63M total across 1 segment · Q3 2023
- Transitional Fab 3 Foundry$9.63M+14.2%100.0%
Forward guidance
For Q4 2024, Magnachip anticipates consolidated revenue to be in the range of $59.0 to $64.0 million, including approximately $2.0 million from Transitional Foundry Services. They expect MSS revenue between $15 to $17 million and PAS revenue between $42 to $45 million. The consolidated gross profit margin is projected to be between 21.5% and 23.5%. For the full year 2024, Magnachip expects double-digit revenue growth for both MSS and PAS businesses.
Tailwinds
- MSS revenue to be in the range of $15 to $17 million, up 87% year-over-year at the mid-point.
- PAS revenue to be in the range of $42 to $45 million, up 33.3% year-over-year at the mid-point.
- MSS revenue expected to grow double digits year-over-year.
- PAS revenue expected to grow double digits year-over-year.
- Consolidated revenue expected to be flattish.
Headwinds
- Consolidated revenue to be in the range of $59.0 to $64.0 million.
- MSS revenue to be in the range of $15 to $17 million, down 2.7% sequentially at the mid-point.
- PAS revenue to be in the range of $42 to $45 million, down 8.6% sequentially at the mid-point.
- Consolidated gross profit margin to be in the range of 21.5% to 23.5%.
- Transitional Foundry Services revenue will be wound down by the end of 2024.
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 Q3 2024
-1.4%
Avg return
Earnings day
+0.5%
Avg return
5 days after
-1.2%
Avg return
30 days after
51%
32 / 63 earnings
Positive
+21.9%
Q2 2016
Best reaction
-49.8%
Q2 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +17.4% | +5.2% | — | |
| Q4 2025 | +7.5% | +1.9% | +6.7% | |
| Q3 2025 | -8.4% | -27.0% | -3.5% | |
| Q1 2025 | -3.3% | +24.0% | +18.0% | |
| Q4 2024 | -5.4% | -4.0% | -30.7% | |
| Q3 2024 | -2.0% | -15.1% | -4.0% | |
| Q2 2024 | +16.9% | +7.3% | -4.1% | |
| Q1 2024 | +3.7% | +2.2% | +2.4% | |
| Q4 2023 | -12.6% | -15.6% | -14.4% | |
| Q3 2023 | +1.2% | -3.6% | -9.7% | |
| Q2 2023 | -1.0% | -9.8% | -11.5% | |
| Q1 2023 | +0.1% | +1.4% | +19.1% | |
| Q4 2022 | -5.2% | -6.2% | -14.7% | |
| Q3 2022 | -6.9% | -9.1% | -4.5% | |
| Q2 2022 | -15.7% | -7.3% | -21.3% | |
| Q1 2022 | -2.4% | -5.3% | +6.6% | |
| Q4 2021 | -0.9% | +0.0% | -6.9% | |
| Q3 2021 | +3.6% | +5.5% | +4.8% | |
| Q2 2021 | -7.2% | -2.0% | -13.5% | |
| Q1 2021 | -0.6% | -5.9% | -5.0% | |
| Q4 2020 | -0.4% | -3.5% | +13.1% | |
| Q3 2020 | +5.1% | +8.4% | +9.4% | |
| Q2 2020 | +4.1% | +7.7% | +12.0% | |
| Q1 2020 | +6.5% | -0.3% | +14.1% | |
| Q4 2019 | +5.5% | -5.4% | -45.3% | |
| Q3 2019 | +2.9% | +9.4% | -2.1% | |
| Q2 2019 | +2.0% | +5.2% | -8.0% | |
| Q1 2019 | +9.0% | +9.1% | -10.8% | |
| Q4 2018 | -3.8% | +22.0% | +7.2% | |
| Q3 2018 | +0.5% | +2.9% | -14.2% | |
| Q2 2018 | +4.0% | +9.4% | +0.4% | |
| Q1 2018 | +16.6% | +14.4% | +20.3% | |
| Q4 2017 | -10.9% | -18.6% | -7.7% | |
| Q3 2017 | +9.7% | +7.2% | +18.4% | |
| Q2 2017 | +16.4% | +12.6% | +11.7% | |
| Q1 2017 | +14.9% | +15.5% | +4.8% | |
| Q4 2016 | -11.8% | -8.9% | -12.4% | |
| Q3 2016 | -26.6% | -29.6% | -17.8% | |
| Q2 2016 | +21.9% | +23.8% | +46.1% | |
| Q1 2016 | +4.7% | — | — | |
| Q4 2015 | +12.6% | — | — | |
| Q3 2015 | -22.1% | — | — | |
| Q2 2015 | -2.0% | — | — | |
| Q1 2015 | +12.2% | — | — | |
| Q4 2014 | +12.2% | — | — | |
| Q3 2014 | -49.8% | — | — | |
| Q1 2014 | -49.8% | — | — | |
| Q2 2014 | -49.8% | — | — | |
| Q4 2013 | -9.6% | — | — | |
| Q3 2013 | -12.1% | — | — | |
| Q2 2013 | +15.3% | — | — | |
| Q1 2013 | +0.8% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2012 | +14.0% | — | — | |
| Q2 2012 | +17.5% | — | — | |
| Q1 2011 | -7.1% | — | — | |
| Q4 2011 | -7.1% | — | — | |
| Q1 2012 | -1.1% | — | — | |
| Q3 2011 | +1.2% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q2 2011 | -4.5% | — | — | |
| Q2 2010 | -4.5% | — | — | |
| Q4 2010 | -4.5% | — | — | |
| Q1 2010 | — | — | — |
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