Kemet Corporation (KEM) Tops Q4 EPS by 20c, Revenues Beat

Kemet Corporation (NYSE: KEM) reported Q4 EPS of $0.37, $0.20 better than the analyst estimate of $0.17. Revenue for the quarter came in at $293.2 million versus the consensus estimate of $264.25 million.

Fourth Quarter Highlights

• Net sales of $293.2 million
• GAAP gross margin of 31.4% and non-GAAP adjusted gross margin of 31.9%
• GAAP EPS net loss of $0.01 per diluted share
• Non-GAAP adjusted EPS of $0.37 per diluted share

“During these unprecedented times, our number one priority remains the safety and well-being of our employees, their families, and the communities in which we operate. I am proud of our colleagues around the world who have worked together to quickly implement COVID-19 prevention actions sooner than required by federal or local governments to keep our employees safe and our facilities operating while continuing to serve critical infrastructure customers who need our products,” stated William M. Lowe Jr., KEMET’s Chief Executive Officer. “Despite COVID-19’s global impact, I am pleased to report that KEMET's fourth quarter results exceeded our revenue guidance, as we finished the quarter with $293.2 million in revenue and with non-GAAP adjusted gross margin and adjusted EBITDA margin of 31.9% and 18.5% respectively. This reinforces the fact that the structural changes we have made in our operations are firmly ingrained in our margin structure. While estimating the full impact the global COVID-19 pandemic will have on our upcoming fiscal year remains very challenging, we continue to believe at this time that our robust financial position will see us through the storm and position us well for long term growth. We now expect our combination with Yageo to close this summer,” continued Lowe.

For earnings history and earnings-related data on Kemet Corporation (KEM) click here.

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