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 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 ...

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 ...

Financial Data and Key Metrics Changes - The company reported Q1 2023 revenues of $144 million, down 28% from the prior year, primarily due to lower shipment volumes in consumer MEMS microphones and MedTech and Specialty Audio [28][10]. - Gross margins for the first quarter were 37.7%, which is 270 basis points above the high end of the guidance range but down 390 basis points from the same period a year ago [31]. - Adjusted EBIT margin was 5.6%, near the high end of the guidance range, and EPS was $0.05, above the midpoint of the guidance range [35]. Business Line Data and Key Metrics Changes - In the Precision Devices segment, revenues were $54 million, down 4% from the prior year, driven by excess channel inventory in the industrial market, partially offset by increased shipments in EV, Defense, and MedTech [30]. - MedTech and Specialty Audio segment revenue was $46 million, down 24% year-over-year due to customer inventory adjustments and difficult comparables from the previous year [29]. - Consumer MEMS microphone revenue was $45 million, down 48% from the prior year, driven by weak global demand for consumer electronics and channel inventory adjustments [32]. Market Data and Key Metrics Changes - The EV market grew 50% year-over-year in Q1, with expectations for continued growth throughout 2023 [18]. - The industrial market, which constitutes less than 15% of company revenue, is facing continued weakness due to elevated distribution and customer inventory levels [19]. - The smartphone market has not seen further degradation, but recovery is not yet evident, leading to pricing pressure [23]. Company Strategy and Development Direction - The company is focusing on expanding its presence in high-margin markets such as MedTech, Defense, and EV, which now account for over 55% of its business [48]. - The strategy includes maintaining a strong balance sheet while exploring M&A opportunities, particularly in the Precision Devices space [54]. - The company aims to achieve gross margins of 43% and adjusted EBIT margins of 22% to 24% in the medium term, driven by a mix shift to higher-margin businesses and improved utilization [42]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the MedTech and Specialty Audio segments, anticipating a more than 27% sequential improvement in revenue driven by major hearing aid retailers [20]. - The company expects total revenue for Q2 to be between $165 million and $180 million, reflecting a 20% sequential increase but an 8% decrease year-over-year [37]. - Management noted that while the smartphone market remains challenging, there are signs of recovery in non-mobile shipments, with expectations for a strong sequential improvement starting in Q2 [22][24]. Other Important Information - Cash and cash equivalents totaled $52 million at the end of the quarter, with cash from operations of $22 million, above the midpoint of guidance [36]. - The company repurchased approximately 430,000 shares at a total cost of $7.5 million during the quarter [36]. - R&D expenses were $17 million, down from the prior year, while SG&A expenses were $27 million, slightly higher than the previous year [34][38]. Q&A Session Summary Question: What are the hurdles and outlook for CMM? - Management indicated that progress is being made on mix and utilization, with expectations for strong bookings in Q2 driven by Defense, MedTech, and EV [49][50]. Question: What is the outlook for M&A opportunities? - Management remains interested in M&A, particularly in the Precision Devices space, and expects to pursue opportunities at more reasonable valuations [54][56]. Question: Can you elaborate on the inventory dynamics? - Management noted that most end markets are in decent shape, with inventory challenges primarily in the industrial segment, which is expected to improve in Q3 [64][65]. Question: What is the outlook for the EV market? - The EV segment is expected to grow significantly, with strong bookings and an expanding customer base, contributing to overall revenue growth [71][92]. Question: What is the expected free cash flow for 2023? - Management anticipates free cash flow generation of 15% or more of revenues in 2023, with a shift in CapEx focus towards the MSA and PD segments [91].

Financial Data and Key Metrics Changes - The company reported Q4 2022 revenues of $197 million, down 16% year-over-year, primarily due to weak demand in consumer electronics and inventory adjustments [22][44] - Gross margins for Q4 were 40.4%, which was above the high end of the guidance range but down 290 basis points from the previous year [23][45] - For the full year 2022, gross margins were 40.6%, a decrease of 110 basis points from 2021, with record margins in Precision Devices and MedTech & Specialty Audio segments offset by declines in consumer MEMS microphones [30][48] Business Line Data and Key Metrics Changes - Consumer MEMS microphones segment revenue was $72 million in Q4, down 31% year-over-year, and down 33% for the full year due to weak global demand and inventory adjustments [14][22] - Precision Devices segment delivered revenue growth of 21% for the full year, with gross margins at 47%, an increase of 140 basis points year-over-year [24][29] - MedTech & Specialty Audio segment revenue was flat for the full year, with Q4 revenue at $2 million, down 13% year-over-year [28][29] Market Data and Key Metrics Changes - The company anticipates strong organic growth in the mid to high-single digits driven by defense, medtech, and EV markets [9] - The consumer MEMS microphone market is expected to see modest improvements in Q2, primarily due to recovery in China [39][42] - The Precision Devices segment is expected to experience mid-single-digit growth in 2023, driven by strong demand in defense and EV markets [61][98] Company Strategy and Development Direction - The company is focusing on high-value markets and products, which has allowed it to achieve strong EBIT margins and generate cash despite market challenges [34] - A restructuring plan was implemented to diversify away from commodity microphones, resulting in over $28 million in annualized savings [26] - The company aims to achieve midterm targets of 22% to 24% EBIT margins and 15% to 17% free cash flow [51] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for modest improvements in Q2, particularly in the consumer MEMS market, as inventory levels normalize [39][42] - The company expects significant sequential improvement in revenue and profitability from Q1 to Q2, with anticipated growth across all segments [50][51] - Management highlighted the challenges posed by weak demand and inventory corrections but remains confident in the resilience of the market [10][34] Other Important Information - The company ended Q4 with cash and cash equivalents totaling $48 million and generated cash from operations of $47 million [31] - Free cash flow for the full year 2022 was $54 million, representing just over 7% of revenue, marking the first time since the spin-off that the company ended the year in a net cash position [48] - The company secured an extension of its $4 million revolving credit facility until 2028, reflecting a strong balance sheet [43] Q&A Session Summary Question: Can you talk more about the first half end market demand versus inventory corrections? - Management indicated that bookings are improving and they are optimistic about sequential growth in Q2, with strong bookings already seen [38][39] Question: Is there any market share shifts? - Management stated that they are taking share in the defense market and have sustained share gains in MedTech & Specialty Audio, with no significant changes in the consumer microphone business [66][68] Question: Are you done with restructuring? - Management feels confident about the current capacity levels and indicated that they will take further restructuring actions if necessary [70][74] Question: Can you talk about the inventory in the channel for Precision Devices? - Management noted that there isn't much inventory in the channel for Precision Devices, as most orders are custom and specific [92][93] Question: What is the outlook for the EV auto market? - Management expects 30% to 40% growth in the EV segment for 2023, with strong bookings indicating potential for significant revenue growth in the coming years [114][117] Question: What is the expected run rate for OpEx going forward? - Management indicated a run rate of approximately $45 million, which reflects the benefits of restructuring and increased incentive compensation [120]