| --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------------------------------------------| | | | | | | | | | | | | | | | | | 1 0 . 2 4 . 2 4 | | | | | | | | | | | | | | | | | | 3 rd Quarter 2024 | | | | | | Earnings Release Supplemental Information | | | | | | | Safe Harbor Forward Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, such as statement ...

Financial Performance - Revenues from continuing operations for Q3 2024 increased by 32% year-over-year to $143 million, at the high end of the guided range[1] - Net cash provided by operating activities reached $53 million, exceeding the high end of the guided range[1] - Non-GAAP diluted EPS from continuing operations was $0.26, at the midpoint of the guided range[2] - The Cornell acquisition contributed to the revenue growth, alongside an organic growth of 4%[2] - Gross profit for Q3 2024 was $62.9 million, representing 44.1% of revenues, compared to 46.6% in Q3 2023[3] - Operating earnings for Q3 2024 were $18.7 million, an increase from $11.4 million in Q3 2023[12] - Revenues for the nine months ended September 30, 2024, increased to $411.0 million, up 29.4% from $317.6 million in the same period of 2023[14] - Gross profit for the nine months ended September 30, 2024, was $173.9 million, representing a gross margin of 42.3%, compared to $145.2 million and 45.7% in the prior year[14][16] - Operating earnings for the nine months ended September 30, 2024, were $36.4 million, an increase of 13.4% from $32.1 million in the same period of 2023[14] - Net loss for the nine months ended September 30, 2024, was $(256.3) million, compared to net earnings of $25.0 million in the same period of 2023[14] - Basic earnings per share from continuing operations decreased to $0.15 for the nine months ended September 30, 2024, down from $0.43 in the prior year[14] - Net earnings from continuing operations for the quarter ended September 30, 2024, were $9.2 million, compared to $4.8 million for the same period last year, representing a 92% increase[17] - Non-GAAP net earnings for the quarter were $24.2 million, up from $18.4 million year-over-year, reflecting a 31% growth[17] - Diluted earnings per share from continuing operations increased to $0.10, compared to $0.05 in the prior year, marking a 100% rise[17] Expenses and Liabilities - Research and development expenses for Q3 2024 were $10.2 million, up from $8.1 million in Q3 2023[12] - Selling and administrative expenses rose to $106.8 million for the nine months ended September 30, 2024, up from $87.3 million in the prior year[14] - Interest expense, net, significantly increased to $12.9 million for the nine months ended September 30, 2024, compared to $2.2 million in the same period of 2023[14] - Research and development expenses increased to $29.2 million for the nine months ended September 30, 2024, compared to $24.0 million in the same period of 2023[14] Cash Flow and Capital Expenditures - Net cash provided by operating activities increased to $95.0 million for the nine months ended September 30, 2024, up from $62.3 million in the same period of 2023[20] - Adjusted free cash flow for the nine months ended September 30, 2024, was $63.5 million, compared to $32.7 million for the same period in 2023[22] - Non-GAAP net cash attributable to continuing operations was $72.9 million for the nine months ended September 30, 2024, compared to $40.7 million in the same period of 2023[22] - Capital expenditures for the nine months ended September 30, 2024, were $10.3 million, slightly down from $11.8 million in the same period of 2023[22] - The company made payments of $130.0 million under its revolving credit facility during the nine months ended September 30, 2024[20] - The company reported a net cash used in financing activities of $87.2 million for the nine months ended September 30, 2024, compared to $35.3 million in the same period of 2023[20] - The company experienced a net increase in cash and cash equivalents of $5.3 million for the nine months ended September 30, 2024, compared to an increase of $26.9 million in the same period of 2023[20] Balance Sheet - Total current assets as of September 30, 2024, amounted to $436.0 million, an increase from $428.8 million at December 31, 2023[19] - Cash and cash equivalents rose to $92.6 million, up from $87.3 million at the end of the previous year[19] - Total liabilities decreased to $393.9 million from $453.1 million at December 31, 2023, indicating a reduction of approximately 13%[19] - Total stockholders' equity decreased to $777.4 million from $1,034.1 million, reflecting a decline of about 25%[19] - Current liabilities increased to $185.9 million from $164.6 million, representing a 13% rise[19] - Long-term debt decreased to $175.5 million from $224.1 million, showing a reduction of approximately 22%[19] Discontinued Operations and Impairments - The company reported a loss from discontinued operations of $(269.3) million for the nine months ended September 30, 2024, compared to $(14.0) million in the prior year[14] - The company recognized a goodwill impairment of $262.5 million during the nine months ended September 30, 2024[20] Future Guidance - Q4 2024 revenue guidance is projected between $141 million and $151 million, with diluted EPS expected between $0.12 and $0.16[4] - The company anticipates continued sequential revenue growth in Q4 2024 across its Medtech & Specialty Audio and Precision Devices segments[2]

Knowles (NYSE: KN ) continues to largely see stability in their end markets following softness over the past 12 months. Assuming most of this demand decline is indeed a reflection of market trends rather than competitive issues, the Analyst's Disclosure: I/we have a beneficial long position in the shares of KN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I ...

IRVINE, Calif., Sept. 19, 2024 (GLOBE NEWSWIRE) -- Syntiant Corp., the recognized leader in low power edge AI deployments, today announced it has signed a definitive agreement to acquire certain assets of Knowles Corporation's (NYSE: KN) Consumer MEMS Microphones (CMM) business. Knowles' CMM division is an industry-leading manufacturer and supplier of high performance SiSionic™ micro-electro-mechanical systems (MEMS) microphones that are essential for voice and audio applications in smartphones, smart speak ...

The company's ceramic capacitors will also appear on the U.S. Department of Defense's Qualified Products List (QPL) ITASCA, Ill., Aug. 14, 2024 /PRNewswire/ -- Knowles Corporation (NYSE: KN), a market leader and global provider of advanced micro-acoustic microphones and speakers, audio solutions, and high-performance capacitors and RF products, today announced they will manufacture and test MIL-PRF-55681 capacitors in the United States. Developed by the Defense Logistics Agency (DLA), MIL-PRF-55681 is a cri ...

The QAS Series reduces early failures in relays, switch contacts, and solid-state components ITASCA, Ill., Aug. 8, 2024 /PRNewswire/ -- Knowles Corporation (NYSE: KN), a market leader and global provider of advanced micro-acoustic microphones and speakers, audio solutions, and high-performance capacitors and RF products, today announced the QAS Series, a new line of RC-type Arc Suppressor/Snubber components that extend the operating life of electronic and electro-mechanical devices. Knowles' Cornell Dubilie ...

Knowles Corporation (NYSE:KN) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants Sarah Cook - Vice President-Investor Relations Jeffrey Niew - President and Chief Executive Officer John Anderson - Senior Vice President and Chief Financial Officer Conference Call Participants Christopher Rolland - Susquehanna Anthony Stoss - Craig-Hallum Tyler Bomba - Baird Bob Labick - CJS Securities Operator Thank you for standing by. My name is Kaylin. I will be your conference operator today. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024. 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: 001-36102 Knowles Corporation (Exact name of registrant as specified in its charter) Delaware 90-1002689 (State o ...

Exhibit 99.1 Financial Contact: Sarah Cook Knowles Investor Relations Email: investorrelations@knowles.com Knowles Reports Q2 2024 Financial Results and Provides Outlook for Q3 2024 Second Quarter Revenues increased 18% on a year over year basis to $205M, in line with guidance Net Cash from Operations of $25 million; at the mid-point of the Guided Range ITASCA, Ill., July 31, 2024 - Knowles Corporation (NYSE: KN) ("Knowles" the "Company"), a leading global supplier of high performance electronics for demand ...

Knowles Corporation (NYSE:KN) Q1 2024 Earnings Conference Call May 1, 2024 4:30 PM ET Company Participants Sarah Cook - Vice President, Investor Relations Jeffrey Niew - President & Chief Executive Officer John Anderson - Senior Vice President & Chief Financial Officer Conference Call Participants Christopher Rolland - Susquehanna Pete Lukas - CJS Securities Anthony Stoss - Craig-Hallum Capital Group Tristan Gerra - Baird Operator Thank you for standing by, and welcome to the First Quarter 2024 Knowles Corp ...