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Diodes Q3 revenue rises, beats analyst estimates

By Reuters News


Overview

  • Semiconductor maker's preliminary Q3 revenue rose yr/yr, beating analyst expectations

  • Adjusted EPS for Q3 rose over 200% yr/yr, beating analyst expectations

  • Company cites record automotive and AI-related demand as drivers of quarterly growth


Outlook

  • Diodes sees Q4 revenue at $550 mln, plus or minus 3%

  • Company expects Q4 non-GAAP gross margin of 37.0%, plus or minus 1%

  • Diodes forecasts Q4 non-GAAP EPS of $1.35, plus or minus $0.10


Result Drivers

  • AUTOMOTIVE, INDUSTRIAL, AND AI DEMAND - Co said revenue growth was driven by record automotive sales, higher demand in industrial applications, and continued momentum in AI-related computing markets

  • CAPACITY EXPANSION AND PRODUCT MIX - Co attributed higher gross margin to increased manufacturing capacity utilization, improved product mix, and pricing


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Beat

$532.59 mln

$510 mln (4 Analysts)

Q3 Adjusted EPS

Beat

$1.18

$1.05 (4 Analysts)

Q3 EPS

$0.95

Q3 Net Income

$43.71 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the semiconductors peer group is "buy"

  • Wall Street's median 12-month price target for Diodes Incorporated is $133.00, about 67.4% above its November 4 closing price of $79.46

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 20 three months ago


Reuters Recommended Reads

  • Nov 3 - Chipmaker AMD forecasts Q4 revenue above estimates on strong data center demand; shares rise

  • Nov 3 - Navitas Semiconductor Q3 revenue beats estimates on rising demand from AI data centers and grid infrastructure

  • Nov 4 - GlobalFoundries Q3 revenue slightly beats, adjusted profit exceeds estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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