Microchip Technology (MCHP) Tops Q1 EPS by 4c

Microchip Technology (NASDAQ: MCHP) reported Q1 EPS of $1.37, $0.04 better than the analyst estimate of $1.33. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $1.95 billion.

GUIDANCE:

Microchip Technology sees Q2 2023 EPS of $1.42-$1.46, versus the consensus of $1.34. Microchip Technology sees Q2 2023 revenue of $2.023-2.101 billion, versus the consensus of $1.97 billion.

• Microchip's inventory days in the September 2022 quarter are expected to be in the range of 127 to 132 days, compared to 127 days on June 30, 2022. MCHP's actual inventory level will depend on the inventory that their distributors decide to hold to support their customers, overall demand for MCHP's products, and their production levels.
• Capital expenditures for the quarter ending September 30, 2022 are expected to be between $130 million and $150 million. Capital expenditures for all of fiscal 2023 are expected to be between $500 million and $550 million. MCHP continues to add capital equipment to maintain, grow and operate their internal manufacturing capabilities to support the expected growth of our business.

For earnings history and earnings-related data on Microchip Technology (MCHP) click here.

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