Keysight Technologies, Inc. (NYSE: KEYS) reported a 54% dip in earnings for the second quarter of 2020 as the supply chain disruptions dampened its revenue performance during the second half of the quarter. The results missed analysts’ expectations.
After site closures and limited capacity in March and April, the company is re-opening sites and ramping its production, which it expects to be back to 100% capacity by the end of the third quarter. Continued progress is expected in the third quarter with Q3 revenue, operating margin, and earnings expected to be in line with, or better than, the most recent quarter.
The company said these expectations are based on the order funnel and a strong backlog position and assume limited incremental supply chain constraints or disruption from additional shutdowns or a second wave of the pandemic.
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