Financial Contact: Sarah Cook Knowles Investor Relations Email: investorrelations@knowles.com Exhibit 99.1 Knowles Reports Q1 2024 Financial Results and Provides Outlook for Q2 2024 Q1 2024 Revenue of $196 million; above the midpoint of the Guided Range Q1 Net Cash from Operations of $17 million; above the high end of the Guided Range ITASCA, Ill., May 1, 2024 - Knowles Corporation (NYSE: KN) ("Knowles" the "Company"), a leading global supplier of high performance components and solutions, including capacit ...

Sundry Photography/iStock Editorial via Getty Images Introduction Knowles Corporation (NYSE:KN) has had a bit of an underwhelming history and indeed, the stock's been essentially flat (with minimal variability) for the past 9 years. Thanks to poor capital allocation decisions (M&A) resulting in negative value for shareholders and competitive pressures in their MEMS business, a lot of investors have been understandably disinterested in the business. But like most investors are reminded, historical returns ar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ 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: 001-36102 Knowles Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $215 million, an increase of 9% year-over-year, and EPS of $0.28, which was within guidance but $0.05 below prior year levels [6][14] - Cash from operations was $60 million, exceeding the high end of the guided range [6][19] - Full year free cash flow was $106 million, representing 15% of revenues [19][27] Business Segment Data and Key Metrics Changes - Medtech & Specialty Audio segment revenue was $67 million, up 9% year-over-year, with gross margins at 54.2%, an increase of 260 basis points [15] - Precision Device segment revenue increased by 10% to $70 million, but gross margins decreased by 13 percentage points to 35.4% due to lower factory capacity utilization [16] - Consumer MEMS Microphone revenue was $78 million, up 8% year-over-year, with gross margins at 24.7%, 70 basis points higher than the previous year [17] Market Data and Key Metrics Changes - The Hearing Health market is expected to see strong growth in the first half of 2024, driven by aging populations and increased penetration of hearing aids [7] - Demand in the Precision Device segment remains stable despite high channel inventory, particularly in industrial and distribution markets [8][30] Company Strategy and Development Direction - The company is focused on transforming its business towards higher-value products and markets, aiming to drive long-term shareholder value [12][26] - The acquisition of Cornell is expected to provide synergies higher than initially anticipated, with a focus on cost controls and capacity optimization [9][44] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for growth across all business units in 2024, despite a challenging 2023 [12][64] - The company anticipates modest revenue growth in 2024, with a focus on managing costs and optimizing operations until market recovery occurs [32][63] Other Important Information - The company ended 2023 with $271 million in debt and a net leverage ratio of 1.3x 2023 EBITDA [20] - For Q1 2024, revenue is expected to be between $190 million and $200 million, reflecting a 35% increase year-over-year [21] Q&A Session Summary Question: Can you elaborate on the excess channel inventory and its impact on future revenues? - Management acknowledged significant inventories in industrial and distribution channels, impacting the Precision Device segment, but noted strong organic growth in other areas [30][31] Question: What are the sequential changes by segment and EPS guidance? - Management provided insights on expected strong year-over-year growth in the Consumer MEMS Microphone business and seasonal declines in the Medtech & Specialty Audio segment [35][39] Question: What is the revenue contribution from Cornell in Q4 and Q1 guidance? - The revenue from Cornell in Q4 was approximately $20 million, with expectations for a slightly higher run rate in Q1 [74][72]

Financial Data and Key Metrics Changes - The company reported Q3 revenues of $175 million, down 2% year-over-year, driven by lower shipments in Precision Devices [28][47] - Adjusted EBIT margin was 21%, which is 520 basis points above prior year levels and above the high end of guidance [5][68] - EPS for the quarter was $0.31, $0.06 above prior year levels and $0.01 above the high end of guidance [5][28] - Cash and cash equivalents totaled $75 million at the end of Q3, with cash from operations of $40 million, exceeding guidance [35][28] - The company expects to exit 2023 with approximately $80 million in cash and a net leverage ratio of about 1.4 [6] Business Line Data and Key Metrics Changes - In the Medtech and Specialty Audio segment, revenue was $57 million, up 20% year-over-year as demand returned to normalized levels [4][67] - Consumer MEMS Microphone revenues were $68 million, up 2% year-over-year, driven by higher shipments into nonmobile applications [4][45] - Precision Devices segment revenue was $50 million, down 22% from the prior year due to weak demand and excess channel inventory [47][31] - The company expects Q4 to be the peak quarter for CMM, driven by strong shipments to mobile [32][45] Market Data and Key Metrics Changes - The company noted robust secular trends in defense, medtech, and EV markets, which are expected to support growth [2][30] - The Precision Devices segment saw a book-to-bill ratio of 1.2 for Q3, indicating improved ordering trends [47][31] - The company anticipates that the consumer electronics markets have stabilized, with expectations for year-over-year revenue growth in 2024 [32][45] Company Strategy and Development Direction - The company is focused on balancing organic investment in R&D and CapEx with accretive M&A, as evidenced by the acquisition of Cornell Dubilier [1][42] - The strategic actions taken are aimed at transforming the company into an industrial technology firm, with a focus on high-growth markets [42][46] - Future guidance will include revenue, EPS, and cash from operations metrics that reflect the Cornell Dubilier acquisition [3][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a return to growth in Precision Devices, supported by positive ordering trends and a book-to-bill ratio above one for the first time in six quarters [31][2] - The company expects significant growth in Q1 2024, aided by easy comparisons from a weak Q1 2023 [15][57] - Management highlighted that while 2023 has been challenging, the second half of the year has shown improved performance [68][67] Other Important Information - SG&A expenses were $25 million, $1 million lower than the prior year, driven by lower sales commissions and incentive compensation costs [5] - The company repurchased approximately 900,000 shares at a total cost of $15 million during the quarter [35] - The company plans to hold a virtual Investor Day to provide updates on midterm financial targets and long-term strategy [71] Q&A Session Summary Question: What is the expected revenue contribution from Cornell Dubilier? - The company anticipates roughly $20 million in revenue from Cornell Dubilier for the quarter, as it was only owned for about two months [38] Question: How does the company view the inventory situation in Precision Devices? - Management indicated that inventory is being worked down, and they feel positive about growth for 2024 in the PD business [55] Question: What are the expectations for the CMM business in Q4? - Management expects Q4 to be strong for the CMM business, with significant year-over-year growth anticipated due to a weak Q1 of 2023 [15][32] Question: How is the integration process of Cornell Dubilier progressing? - The company is making progress on the integration process and expects to see revenue synergies starting in the back half of 2024 [72][74] Question: What is the outlook for pricing and order trends in the MSA business? - Management noted that pricing has been stable in the MSA business, and they are optimistic about growth in 2024 due to strong market demand [75]

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 September 30, 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: 001-36102 Knowles Corporation (Exact name of registrant as specified in its charter) (State or other jurisdi ...

Knowles Corporation (NYSE:KN) Q2 2023 Earnings Conference Call August 2, 2023 4:30 PM ET Company Participants Patton Hofer - Vice President, Investor Relations Jeffrey Niew - President & Chief Executive Officer John Anderson - Senior Vice President & Chief Financial Officer Conference Call Participants Christopher Rolland - Susquehanna Anthony Stoss - Craig-Hallum Operator Good afternoon and thank you for attending today's Knowles Second Quarter 2023 Earnings Conference Call. My name is Kayla Baker, and I w ...

Forward Looking Statements 4 REVENUE | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------|-------|---------------|-------|----------------| | (in millions, except per share amounts) \nNet earnings (loss) $ | | 2023 \n13.6 | $ | 2022 \n(242.9) | | Interest expense, net | | 0.8 | | 0.8 | | Provision for income taxes | | 3.8 | | 25.8 | | Earnings (loss) before interest and income taxes | $ | 18.2 | $ | (216.3) | | Non-GAAP ...

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, 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: 001-36102 Knowles Corporation (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Ide ...

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 March 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: 001-36102 Knowles Corporation (Exact name of registrant as specified in its charter) (State or other jurisdictio ...