Knowles (KN) Tops Q1 EPS by 4c, Revenues Beat; Offers 2Q EPS/Revenue Outlook
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Knowles (NYSE: KN) reported Q1 EPS of $0.29, $0.04 better than the analyst estimate of $0.25. Revenue for the quarter came in at $201 million versus the consensus estimate of $200.1 million.
“First quarter revenue and gross margin were above the midpoint of our guidance. Audio revenues were driven by strong MEMS microphone demand across multiple end markets and improving trends in our Hearing Health business, while Precision Devices revenues were in line with our expectations,” said Jeffrey Niew, president and CEO of Knowles.
“For the second quarter of 2021, we expect sales to increase 28% from the year ago period on continued strength in Audio. In Precision Devices, record Q1 bookings gives us increased confidence that the medtech and defense end markets will recover through the rest of the year. I believe we are on track to deliver strong earnings growth in 2021 on increased revenue, improved gross margins and continued operating expense control, which validates our strategy to deliver high-value, differentiated solutions to a diverse set of end markets,” continued Niew.
Knowles sees Q2 2021 EPS of $0.23-$0.29, versus the consensus of $0.23. Knowles sees Q2 2021 revenue of $185-205 million, versus the consensus of $194.35 million.
For earnings history and earnings-related data on Knowles (KN) click here.
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