Knowles reports Q2 adjusted EPS 23c, consensus 22c

Reports Q2 revenue $173M, consensus $172.32M. “Knowles delivered solid results for the second quarter,” commented Chief Executive Officer Jeffrey Niew. “Our MedTech & Specialty Audio segment delivered better than expected results as customer inventory levels declined faster than we originally anticipated. For Precision Devices, Q2 revenues finished below our expectations due to further demand weakness associated with excess channel inventory in the industrial and distribution markets and timing of shipments into the defense market. In Consumer MEMS Microphones, Q2 benefited from favorable mix as demand into computing end markets was better than expected.”