South Korea's Magnachip Q2 revenue falls 6% yr/yr

Overview

• South Korea-based power semiconductor maker's Q2 revenue fell 6% yr/yr, within guidance range

• Adjusted loss per share widened to $0.13 from $0.05 a year earlier

• Company expects Q3 revenue and margin to decline further due to supply chain and pricing pressures

Outlook

• Magnachip expects Q3 revenue between $41.5 mln and $45.5 mln, down sequentially and year-over-year

• Company sees Q3 gross margin between 17% and 19%, lower than Q2 due to product mix

• Magnachip cites supply chain packaging constraints and pricing pressure as factors for Q3 outlook

Result Drivers

• SEGMENT REVENUE DECLINE - Both Power Analog Solutions and Power IC segments saw lower revenue sequentially and year-over-year

• OTHER CHARGES - Q2 results included $1.1 mln customer goodwill payment and $0.9 mln in one-time employee incentives

Company press release: ID:nBw672Zla

Key Details

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(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.)