Overview

* Diodes Q2 revenue rises 14% yr/yr, beating analyst expectations

* Adjusted EPS for Q2 beats estimates, reflecting strong demand in Asia

Outlook

* Diodes expects Q3 revenue around $392 mln, plus or minus 3%

* Company anticipates Q3 GAAP gross margin of 31.6%, plus or minus 1%

Result Drivers

* ASIA DEMAND - Strong demand in Asia contributed to revenue growth, with double-digit sales increases in the region

* CONSUMER MARKET - Growth in the consumer market was the strongest, impacting product mix negatively

* INVENTORY REDUCTION - Channel inventory was reduced, aiding in maintaining gross profit margins

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Sales Beat $366.21 $357.70

mln mln (4

Analysts

)

Q2 Beat $0.32 $0.26 (4

Adjusted Analysts

EPS )

Q2 EPS $0.99

Q2 Net $46.10

Income mln

Q2 EBIT $9.39

mln

Q2 Gross $115.32

Profit mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "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 Inc ( DIOD ) is $50.00, about 3.7% above its August 6 closing price of $48.13

* The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 23 three months ago

Press Release:

(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.)