Knowles Q3 Results Miss Estimates; Guides Q4 Below Consensus

(RTTNews) - Knowles Corp. (KN) reported a net loss for the third quarter of $14.6 million or $0.17 per share, compared to net earnings of $44.3 million or $0.52 per share for the year-ago quarter.

Excluding items, adjusted net earnings for the third quarter was $32.7 million or $0.38 per share, compared to $50.9 million or $0.60 per share in the prior year quarter.

Revenue for the third quarter fell to $300.8 million from $311.6 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.41 per share on revenue of $307.22 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue of $280 million to $300 million and adjusted earnings of $0.30 to $0.38 per share. Analysts currently expect the company to earn $0.62 per share on revenue of $338.04 million for the fourth quarter.