Yahoo Finance Electronic Components Stocks Q1 In Review: Knowles (NYSE:KN) Vs Peers
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the electronic components stocks, including Knowles (NYSE:KN) and its peers.
Like many equipment and component manufacturers, electronic components companies are buoyed by secular trends such as connectivity and industrial automation. More specific pockets of strong demand include data centers and telecommunications, which can benefit companies whose optical and transceiver offerings fit those markets. But like the broader industrials sector, these companies are also at the whim of economic cycles. Consumer spending, for example, can greatly impact these companies’ volumes.
The 10 electronic components stocks we track reported a decent Q1; on average, revenues beat analyst consensus estimates by 0.8%. while next quarter's revenue guidance was in line with consensus. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, but electronic components stocks have performed well, with the share prices up 15.9% on average since the previous earnings results.
Knowles (NYSE:KN)
Holding a swath of patents, Knowles (NYSSE:KN) offers acoustics components for various industries.
Knowles reported revenues of $196.4 million, up 36.1% year on year, in line with analysts' expectations. Overall, it was a weak quarter for the company with a miss of analysts' earnings estimates.
“All three segments delivered year over year double digit revenue growth in the first quarter of 2024 and Non-GAAP Diluted Earnings per Share was at the high end of our guided range. I am pleased to report that net cash from operating activities of $17 million exceeded the high end of our guidance,” commented Jeffrey Niew, President and CEO of Knowles.
Knowles pulled off the fastest revenue growth of the whole group. The stock is up 18.5% since reporting and currently trades at $18.71.
Read our full report on Knowles here, it's free.
Best Q1: Corning (NYSE:GLW)
Supplying windows for some of the United States’s earliest spacecraft, Corning (NYSE:GLW) provides glass and other electronic components for the consumer electronics, telecommunications, automotive, and healthcare industries.
Corning reported revenues of $3.26 billion, down 3.2% year on year, outperforming analysts' expectations by 4.6%. It was a stunning quarter for the company with an impressive beat of analysts' Display Technologies revenue estimates and a decent beat of analysts' earnings estimates.
Corning scored the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 44.6% since reporting. It currently trades at $45.97.
Is now the time to buy Corning? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Advanced Energy (NASDAQ:AEIS)
Pioneering technologies for radio frequency power delivery, Advanced Energy (NASDAQGS:AEIS) provides power supplies, thermal management systems, and measurement and control instruments for various manufacturing processes.
Advanced Energy reported revenues of $327.5 million, down 23% year on year, falling short of analysts' expectations by 6.9%. It was a weak quarter for the company with a miss of analysts' earnings estimates and a miss of analysts' Semiconductor Equipment revenue estimates.
Advanced Energy had the weakest performance against analyst estimates in the group. Interestingly, the stock is up 17.8% since the results and currently trades at $113.
Read our full analysis of Advanced Energy's results here.
Rogers (NYSE:ROG)
With its silicone foam used in Apollo 11’s mission to the moon, Rogers (NYSE:ROG) produces advanced materials for the telecommunications, automotive, and electronics industries.
Rogers reported revenues of $213.4 million, down 12.5% year on year, surpassing analysts' expectations by 1.6%. Overall, it was a solid quarter for the company, with a decent beat of analysts' revenue and EPS estimates.
The stock is up 15.1% since reporting and currently trades at $126.16.
Read our full, actionable report on Rogers here, it's free.
Bel Fuse (NASDAQ:BELFA)
Founded by 26-year-old Elliot Bernstein during the electronics boom after WW2, Bel Fuse (NASDAQGS:BELF.A) provides electronic systems and devices to the telecommunications, networking, transportation, and industrial sectors.
Bel Fuse reported revenues of $128.1 million, down 25.7% year on year, in line with analysts' expectations. Zooming out, it was a strong quarter for the company with an impressive beat of analysts' earnings estimates.
Bel Fuse had the slowest revenue growth among its peers. The stock is up 16.5% since reporting and currently trades at $83.31.
Read our full, actionable report on Bel Fuse here, it's free.
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