Knowles Corp Stock Price, News & Analysis

Knowles (KN) reported Q4 2024 results with revenues from continuing operations increasing 2% year-over-year to $142.5M, and full-year revenues up 21% to $553.5M. The company generated Q4 net cash from operations of $35M and full-year cash from operations of $130.1M.

Q4 GAAP diluted EPS was $0.12, while non-GAAP diluted EPS reached $0.27. For full-year 2024, GAAP diluted EPS declined 64% to $0.26, while non-GAAP diluted EPS grew 32% to $0.91. The company completed the divestiture of its Consumer MEMS Microphone business by end of 2024.

The Board authorized an additional $150M for share repurchases, bringing the total available to $194M. Looking ahead, Q1 2025 guidance projects revenues of $124-134M and diluted EPS of $0.06-0.10. The company also secured a $75M+ multi-year order for high-performance capacitors in the Energy market.

Knowles (NYSE: KN), a manufacturer of specialty electronic components, has scheduled its fourth quarter and full year 2024 financial results release for February 13, 2025, after market close. The company will host a conference call at 3:30 p.m. Central time (4:30 p.m. Eastern time) to discuss results and company outlook.

The conference call will be accessible via toll-free (800-715-9871) and toll (646-307-1963) numbers with Conference ID 8193117. A replay will be available from 7:00 p.m. Central time on February 13 through February 20. The event will also be webcast and archived on Knowles' investor website.

Knowles (NYSE: KN) has completed the sale of its Consumer MEMS Microphones business to Syntiant Corp. This transaction marks a significant milestone in Knowles' transformation into a premier industrial technology company. The company aims to focus on higher value markets where it can drive value through product design, process technology, and customized solutions at scale. The sale concludes the strategic alternatives evaluation for the business that was announced on September 18, 2023. Jefferies acted as exclusive financial advisor, while Sidley Austin LLP served as legal counsel for the transaction.

Knowles (NYSE: KN) has appointed Laura Angelini as an independent director to its Board of Directors. Angelini brings 30 years of experience in the medical device and healthcare industry, having served as General Manager of Renal Care Global Business Unit at Baxter International (2016-2021) and various leadership roles at Johnson & Johnson (1991-2016). She currently serves on the boards of DCC plc and Identiv, Inc.

The appointment aligns with Knowles' strategic transformation towards higher value markets and products. Angelini will also serve as a member of the Compensation Committee of Knowles' Board of Directors.

Knowles (NYSE: KN), a global supplier of high-performance components including capacitors, RF filters, medtech microphones, and balanced armature speakers, has announced its participation in The Baird 2024 Global Industrial Conference. The event will take place in Chicago on November 14, 2024, featuring President and CEO Jeff Niew and CFO John Anderson. Interested parties can schedule meetings with management through their Baird representatives.

Knowles (NYSE: KN) has partnered with Mimi Hearing Technologies to create innovative audio solutions for wireless devices. The collaboration debuts in the Breggz ZOHN-1 in-ear computer, combining Knowles' balanced armature drivers with Mimi's sound personalization software. This integration enables customized audio experiences tailored to users' unique hearing profiles while protecting against hearing loss. The technology addresses both premium audio quality and hearing health needs, particularly relevant as consumers spend over four hours daily consuming audio content.

Knowles (NYSE: KN) reported strong Q3 2024 financial results with revenues from continuing operations reaching $143M, up 32% year-over-year, driven by the Cornell acquisition and 4% organic growth. The company achieved $52.8M in net cash from operations, exceeding guidance. Q3 non-GAAP gross profit margin was 45.5%, with diluted EPS of $0.26. Both Medtech & Specialty Audio and Precision Devices segments showed growth. Notably, Knowles signed an agreement to sell its Consumer MEMS Microphones business, focusing on higher-margin markets.

Knowles (NYSE: KN), a leading global supplier of high-performance electronics, has announced the release date for its third quarter 2024 financial results. The company will issue the results on October 24, 2024, after market close, followed by a conference call at 3:30 p.m. Central time (4:30 p.m. Eastern time) to discuss the results and company outlook.

Analysts and investors can join the conference call using the provided toll-free and toll dial-in numbers, along with the conference ID. A webcast of the call will also be available. A conference call replay will be accessible from 7:00 p.m. Central time on October 24 through 11:59 p.m. Central time on October 31. Additionally, a webcast replay will be available on the Knowles website for a time.

Knowles (NYSE: KN) has announced a definitive agreement to sell its Consumer MEMS Microphones (CMM) business to Syntiant Corp for $150 million. This strategic move aims to transform Knowles into a premier industrial technology company, focusing on its Precision Devices and MedTech & Specialty Audio segments. The transaction includes $70 million in cash and $80 million in Syntiant preferred stock.

Key points:

• The deal is expected to close in Q4 2024, subject to regulatory approvals and conditions
• Knowles plans to use the net cash proceeds to pay down debt and repurchase company stock
• Pro forma revenue for Knowles' remaining businesses, including Cornell Dubilier's full year results, was $560 million in 2023
• Knowles has updated its Q3 2024 guidance and provided a Q4 revenue outlook for continuing operations