Allegro MicroSystems Expects Q2 Net Sales Of $182M - $192M, Est $186.39M
Portfolio Pulse from Benzinga Newsdesk
Allegro MicroSystems (ALGM) has provided its Q2 financial outlook, expecting net sales between $182M and $192M, with an estimated gross margin of 49% to 51%. Interest expense is projected to be around $7 million, and diluted EPS is anticipated to range from $0.04 to $0.08. Excluding incremental interest costs from a recent share repurchase, non-GAAP diluted EPS at the midpoint is expected to be $0.08.
August 01, 2024 | 11:48 am
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Allegro MicroSystems (ALGM) has provided its Q2 financial outlook, expecting net sales between $182M and $192M, with an estimated gross margin of 49% to 51%. Interest expense is projected to be around $7 million, and diluted EPS is anticipated to range from $0.04 to $0.08. Excluding incremental interest costs from a recent share repurchase, non-GAAP diluted EPS at the midpoint is expected to be $0.08.
The provided financial outlook is generally positive, with net sales and gross margin expectations aligning with market estimates. The non-GAAP EPS at the midpoint being higher than the diluted EPS range suggests a positive adjustment excluding recent share repurchase costs. This is likely to have a positive short-term impact on ALGM's stock price.
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