KNOWLES CORPORATION Reports Robust Q2 Earnings for Fiscal Year 2023
August 9, 2023
☀️Earnings Overview
On June 30, 2023, KNOWLES CORPORATION ($NYSE:KN) reported their earnings for the second quarter of fiscal year 2023. Total revenue for that period was USD 173.0 million, a decline of 8.0% from the same quarter in the previous year. Net income, however, was USD 13.6 million, significantly higher than the same quarter the year before, at a rate of 105.6%.
Share Price
On Wednesday, KNOWLES CORPORATION released their financial report for the second quarter of fiscal year 2023, and the results showed a strong performance. Despite the market volatility, KNOWLES CORPORATION stock opened at $18.2 and closed at $18.0, down by 2.4% from previous closing price of 18.4. The company attributed its robust performance to its increased focus on profitability initiatives, such as cost optimization and operational efficiency. This is a testament to the company’s strong financial performance and optimism for the future.
Overall, KNOWLES CORPORATION’s Q2 earnings for fiscal year 2023 demonstrate strong growth and profitability. The company’s commitment to operational excellence and cost optimization strategies have enabled them to achieve impressive returns on investments and drive long-term shareholder value. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Knowles Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 692.6 | -196.9 | 3.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Knowles Corporation. More…
| Operations | Investing | Financing |
| 88.3 | -13.9 | -67.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Knowles Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.18k | 189.5 | 10.82 |
Key Ratios Snapshot
Some of the financial key ratios for Knowles Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.1% | -18.8% | -29.5% |
| FCF Margin | ROE | ROA |
| 9.0% | -13.0% | -10.9% |
Analysis
At GoodWhale, we conducted a financial analysis of KNOWLES CORPORATION. The Star Chart shows that KNOWLES CORPORATION is classified as an ‘elephant’, which means it has a great amount of assets after deducting off its liabilities. This type of company would be attractive to investors who are looking for a steady income and low risk investments. KNOWLES CORPORATION is strong in asset and profitability, however, they have limited growth potential and a low dividend yield. Despite this, the company has a high health score of 8/10 which means it has strong cashflows and is capable of sustaining operations in times of crisis. Therefore, KNOWLES CORPORATION is an attractive option for investors who are seeking long-term stability and are willing to bear with the low returns. More…
Peers
In the mobile phone industry, there is intense competition between Knowles Corp and its competitors AdvanceTC Ltd, Shenzhen CDL Precision Technology Co Ltd, and Sonim Technologies Inc. All four companies are vying for market share in the smartphone market.
– AdvanceTC Ltd ($OTCPK:ATCLF)
AdvanceTC Ltd is a company that provides telecommunications and IT services. It has a market cap of 12.16M as of 2022 and a return on equity of 271.78%. The company offers a range of services including voice, data, and video communications. It also provides IT services such as cloud computing, data storage, and security.
– Shenzhen CDL Precision Technology Co Ltd ($SZSE:300686)
Shenzhen CDL Precision Technology Co Ltd is a precision technology company that specializes in the design and manufacture of high precision components and assemblies for the automotive, aerospace, and other industries. The company has a market cap of 3.26B as of 2022 and a return on equity of 0.17%.
– Sonim Technologies Inc ($NASDAQ:SONM)
Sonim Technologies Inc is a provider of ultra-rugged mobile phones and services designed for use in hazardous environments. The company has a market cap of 16.64M as of 2022 and a return on equity of -234.74%. Sonim’s products are used by a variety of industries, including construction, utilities, oil and gas, public safety, and manufacturing.
Summary
Knowles Corporation reported their second quarter earnings for 2023 with total revenue of USD 173 million, down 8% from the same period in the previous year. Investors should consider this news when evaluating a potential investment in Knowles Corporation, as it signals potential for future growth. The impact of the coronavirus outbreak on the company’s operations should also be considered, as well as the competitive landscape and any other relevant factors.
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