Knowles Corp

NYSE:KN   12:15:39 PM EDT
16.90
+0.33 (+1.99%)
Restructuring / Reorganization, Other Pre-Announcement

Knowles Corp Sees Q3 Adjusted Earnings Per Share $0.17 To $0.21

Published: 08/02/2022 21:26 GMT
Knowles Corp (KN) - Knowles Reports Q2 2022 Financial Results and Announces Restructuring Program.
Restructuring Program Expected to Accelerate Achievement of Mid-term Financial Targets.
Knowles - Restructuring Within Audio Segment Designed to Right Size Manufacturing Capacity and Operating Expenses in Mems Microphones Product Line.
Knowles - Restructuring Charges Expected to Be $35-$45 Million, Including $23-$28 Million in Cash Payments, With Estimated Annualized Savings of $25-$30 Million.
Restructuring Program is Expected to Be Completed in Q4 of 2022.
Sees Revenues $170 to $185 Million for Q3.
Sees Q3 Loss per Share $0.37 to $0.33.
Sees Q3 Adjusted Earnings per Share $0.17 to $0.21.
Qtrly Revenues $188.0 Million Versus $201.4 Million in Q1.
Qtrly Loss per Share $2.64.
Qtrly Non-GAAP Diluted Earnings per Share $0.33.
Q2 Earnings per Share View $0.32, Revenue View $199.8 Million -- Refinitiv Ibes Data (analyst estimates).
Q3 Earnings per Share View $0.47, Revenue View $244.5 Million -- Refinitiv Ibes Data (analyst estimates).