Allegro Microsystems Q3 Guidance: Adj EPS $0.27-$0.31 vs $0.36 Est; Sales $250M-$260M vs $268.9M Est

Author: Benzinga Newsdesk | November 02, 2023 07:15am

Business Outlook

For the third quarter ending December 29, 2023, and including two months of activity from the Crocus Technologies, Inc. acquisition which closed on October 31, 2023, the Company expects net sales to be in the range of $250 million to $260 million. The Company also estimates the following results on a non-GAAP basis:

• Gross Margin is expected to be approximately 54%, reflecting lower distribution sales and the initial impact of Crocus
• Operating Expenses are expected to decline 4% sequentially, and are anticipated to be approximately 28% of sales
• Diluted Earnings per Share are expected to be in the range of $0.27 to $0.31

For the two-month period for which Crocus is included in the Company's third quarter results, it is expected to add approximately $5 million to net sales, $3.5 million to interest expense, and be $0.03 dilutive to EPS.

Posted In: ALGM