Electronic components manufacturer Knowles (NYSE:KN) will be reporting results tomorrow afternoon. Here’s what investors should know.
Knowles missed analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $142.5 million, down 33.8% year on year. It was a disappointing quarter for the company, with revenue guidance for next quarter missing analysts’ expectations.
Is Knowles a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Knowles’s revenue to decline 34.3% year on year to $128.9 million, a reversal from the 36.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Knowles has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Knowles’s peers in the tech hardware & electronics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Jabil posted flat year-on-year revenue, beating analysts’ expectations by 5.1%, and TD SYNNEX reported revenues up 4%, falling short of estimates by 1.7%. Jabil traded up 4.1% following the results while TD SYNNEX was down 16.6%.
Read our full analysis of Jabil’s results here and TD SYNNEX’s results here.
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