Knowles Corp Up 17.91% To $15.93 After Earnings Beat

Friday, November 3, 2023 - Knowles Corp (KN) reported upside earnings and downside revenues.

Knowles Corp's earnings came in at an EPS of $0.31 per share, 11.00% higher than estimates for an EPS of $0.28 per share. The firm's earnings are up 24% since reporting $0.25 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $175.1 million. That represents a 1.74% decrease in revenues from the year-ago report and is 2.21% lower than consensus estimates set at $179.1 million.

The stock is up 17.91% to $15.93 after the report.

Despite Knowles Corp reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Knowles Corp a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Knowles Corp is a provider of advanced micro-acoustic, audio processing, and precision device solutions. It primarily serves the mobile consumer electronics, communications, medical, defense, aerospace, and industrial markets. The business activities of the group are functioned through Audio and PD segments. The Audio segment designs and manufactures innovative audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and IoT markets, Whereas the PD group specializes in the design and delivery of highly engineered capacitors and RF devices for technically demanding applications. The majority of the revenue is generated from the Audio segment.