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Diodes Incorporated (NASDAQ:DIOD) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Leanne Sievers - President & IR, Shelton Group Gary Yu - President Brett Whitmire - CFO Emily Yang - SVP, Worldwide Sales & Marketing Conference Call Participants David Williams - Benchmark Gary Mobley - Wells Fargo Securities Tristan Gerra - Baird William Stein - Truist Securities Operator Good afternoon, and welcome to Diodes Incorporated's First Quarter 2024 Financial Results Conference Call. At ...

Diodes (DIOD) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $1.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.70%. A quarter ago, it was expected that this semiconductor components maker would post earnings of $0.48 per share when it actually produced earnings of $0.51, delivering a surprise of 6.25%.Over the last four quarters, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or DIODES INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 4949 Hedgcoxe Road, Suite 200, Plano, Texas 75024 (Address of principal executive offices) (Zip code) (972) 987-3 ...

Diodes (DIOD) is benefiting from its expanding footprint in the industrial and automotive markets. These two markets represented 46% of the total product revenues in 2023.DIOD is further strengthening its position in these markets with the launch of two groundbreaking products.The first, a series of 2A trench Schottky rectifiers — SDT2U30CP3, SDT2U40CP3 and SDT2U60CP3 — has garnered attention for an unmatched performance and compact design. The second, an automotive-compliant linear LED driver — AL1783Q — p ...

PLANO, Texas--(BUSINESS WIRE)--Diodes Incorporated (Diodes) (Nasdaq: DIOD) announces its SDT2U30CP3 (30V/2A), SDT2U40CP3 (40V/2A), and SDT2U60CP3 (60V/2A) achieve the industry’s highest current densities in their class with low forward voltage drop and thermal resistance addressing design challenges for smaller and more efficient portable, mobile, and wearable devices. This series of innovative high-current trench Schottky rectifiers are housed in a chip-scale package (CSP) that occupies only 0.84mm² board ...

PLANO, Texas--(BUSINESS WIRE)--Diodes Incorporated (Diodes) (Nasdaq: DIOD) today releases a new automotive-compliant* linear LED driver that enables users to independently control the brightness and color of its three channels. Human-centric automotive design is driving the demand for multi-channel LED drivers, which allow vehicle occupants to easily change interior lighting colors to match their mood. By simultaneously enabling animated turning-indicator signals and exterior grill lighting for different r ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 002-25577 DIODES INCORPORATED (Exact name of registrant as specified in its charter) Delaware 95-2039518 (State or other jurisdiction of incorporat ...

Financial Data and Key Metrics Changes - For the full year 2023, GAAP gross profit was $658.2 million with a gross margin of 39.6%, aligning with the target model of 40% [9] - Non-GAAP adjusted net income for the full year was $222.8 million or $4.81 per diluted share, down from $339 million or $7.36 per diluted share in 2022 [11] - GAAP net income for the fourth quarter was $25.3 million or $0.55 per diluted share, compared to $48.7 million or $1.05 per diluted share in the previous quarter [49] Business Line Data and Key Metrics Changes - Revenue for the fourth quarter was $322.7 million, down from $404.6 million in the third quarter and $496.2 million in the fourth quarter of 2022 [22] - Automotive and industrial markets combined accounted for 46% of product revenue in 2023, up from 42% in 2022 [20] - Fourth quarter revenue from the automotive market was 18%, a slight decrease from 19% in the previous quarter [54] Market Data and Key Metrics Changes - In the fourth quarter, Asia represented 78% of revenue, Europe 14%, and North America 8% [53] - For the full year 2023, Asia accounted for 71% of revenue, Europe 17%, and North America 12% [53] - The industrial market represented 23% of product revenue in the fourth quarter, down from the previous quarter [32] Company Strategy and Development Direction - The company is focusing on expanding its portfolio of innovative products, particularly in the automotive and industrial markets [6] - There is an emphasis on improving product mix and quality, with over 350 new automotive-compliant products introduced in 2023 [20] - The company aims to drive manufacturing cost reductions and operational efficiency while expanding internal facility utilization [7] Management's Comments on Operating Environment and Future Outlook - Management noted that 2023 was challenging due to a slowdown in consumer computing and communications markets, along with inventory rebalancing in the industrial sector [6] - The company expects revenue for the first quarter of 2024 to be approximately $305 million, reflecting seasonal trends [52] - Management remains optimistic about recovery in the second half of the year, driven by improvements in product mix and demand [66] Other Important Information - The company reduced total debt by $124 million to $62 million and maintained a solid cash position of over $315 million [7] - Capital expenditures for the full year were $150.8 million, representing 9.1% of revenue, within the target range of 5% to 9% [13] Q&A Session Summary Question: Can you provide details on sell-in for the March quarter guidance across different segments? - Management indicated that inventory rebalancing is ongoing, particularly in the automotive and industrial markets, and expects some recovery in the second quarter [72] Question: What is the pricing environment like, especially with larger competitors becoming more aggressive? - Management noted that pricing pressure is influenced by demand and supply dynamics, with a focus on improving product mix to mitigate price competition [60][62] Question: What are the expectations for gross margin in the first quarter and the full year? - Management expects the first quarter gross margin to be the lowest for the year, with improvements anticipated in the second half [66] Question: How is the inventory situation across different market segments? - Management reported that customer inventory levels are returning to normal, with expectations for ramp-up in the second quarter due to seasonal trends [73] Question: What is the split of revenue between direct and distribution channels? - The revenue split for the fourth quarter was 65% distribution and 35% direct, which typically varies by quarter [97]

Diodes (DIOD) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $1.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.25%. A quarter ago, it was expected that this semiconductor components maker would post earnings of $1.20 per share when it actually produced earnings of $1.13, delivering a surprise of -5.83%.Over the last four quarters, ...