SMART Global Holdings, Inc. (SGH) Tops Q1 EPS by 8c, Revenues Beat; Offers 2Q EPS/Revenue Guidance

SMART Global Holdings, Inc. (NASDAQ: SGH) reported Q1 EPS of $0.78, $0.08 better than the analyst estimate of $0.70. Revenue for the quarter came in at $291.7 million versus the consensus estimate of $290.93 million.

First Quarter Fiscal 2021 Highlights:

• Net sales of $291.7 million, 7.2% higher than the year ago quarter.
• GAAP net income of $2.0 million, or $0.08 per share, compared with $0.2 million or $0.01 per share in the year ago quarter.
• Non-GAAP net income of $19.6 million or $0.78 per share, 46.4% and 41.8% higher than the year ago quarter, respectively.
• Adjusted EBITDA of $29.5 million, 25.4% higher than the year ago quarter.

“I am proud of the results our team delivered in the first quarter of fiscal 2021 during these challenging times. Total revenue grew by 7% when compared to the first quarter a year ago, and non-GAAP earnings per share of $0.78 exceeded the high end of our guidance range,” commented Mark Adams, President and CEO.

“With our continuing focus on delivering differentiated solutions to our valued customers and driving operational excellence across each of our businesses, we remain optimistic about the future and our ability to deliver strong returns for our shareholders,” concluded Mr. Adams.

GUIDANCE:

SMART Global Holdings, Inc. sees Q2 2021 EPS of $0.75-$0.85, versus the consensus of $0.69. SMART Global Holdings, Inc. sees Q2 2021 revenue of $285-305 million, versus the consensus of $286.2 million.

For earnings history and earnings-related data on SMART Global Holdings, Inc. (SGH) click here.

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