Recap: Allegro Microsystems Q1 Earnings - Allegro Microsystems (NASDAQ:ALGM)

Allegro Microsystems ALGM reported its Q1 earnings results on Thursday, July 28, 2022 at 08:00 AM.

Here's what investors need to know about the announcement.

Allegro Microsystems beat estimated earnings by 9.09%, reporting an EPS of $0.24 versus an estimate of $0.22.

Revenue was up $29.61 million from the same period last year.

Last quarter the company missed on EPS by $0.0 which was followed by a 4.34% drop in the share price the next day.

Here's a look at Allegro Microsystems's past performance:

Quarter	Q4 2021	Q3 2021	Q2 2021	Q1 2021
EPS Estimate	0.21	0.18	0.18	0.16
EPS Actual	0.21	0.19	0.20	0.18
Revenue Estimate	195.15M	182.73M	186.84M	177.59M
Revenue Actual	200.29M	186.63M	193.61M	188.14M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Allegro Microsystems management provided guidance for Q2 2022, expecting earnings between $0.25 and $0.27 per share.

To track all earnings releases for Allegro Microsystems visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.