— Smart Global Holdings (NASDAQ: SGH) reported its first-quarter 2020 adjusted earnings of $0.55 per share versus $0.73 per share expected.
— Net sales plunged by 31% to $272 million versus $280.02 million expected.
![Earnings Update by AlphaStreet](https://cdn.news.alphastreet.com/wp-content/uploads/2019/04/Earnings-Coverage-5-1024x768.jpg)
— The GAAP earnings dipped by 99% as its high performance computing business, Penguin Computing, experienced worse than expected seasonal weakness.
— In Brazil, having completed the first full quarter under the new points-based system for local manufacturing, the company is encouraged by the results with units and revenues increased from the previous quarter.
— Looking ahead into the second quarter, the company expects earnings of $0.09-0.19 per share on a GAAP basis and $0.45-0.55 per share on an adjusted basis. The consensus estimates EPS of $0.58 per share.
— Sales are predicted to be in the range of $265-275 million. This is better than the analysts’s view of $270.53 million for the second quarter.
— Looking forward, the company continues to see improvement in its Memory related businesses and expects its second-quarter to be the low point in this market.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%