SMART Global Stock Climbs On Better-Than-Expected Q3 Results

SMART Global Holdings, Inc. SGH reported its third-quarter financial results Tuesday. Here’s a look at the key figures from the report. 

The Details: SMART Global reported quarterly earnings of 37 cents per share, which beat the analyst consensus estimate of 30 cents by 23.33%.

Quarterly sales came in at $300.6 million, which beat the analyst consensus estimate of $300 million. The company also reported a gross margin of 32.3% versus 31.5% in the prior quarter.

“We are pleased with our Q3 operating results and continued progress in our transformation into a high-performance, high-availability enterprise solutions company,” said Mark Adams, CEO of SMART Global. “Our customers are looking for a trusted deployment partner to help them solve the complexity of AI, and we feel we are well positioned with our portfolio of systems, software and managed services to enable their success.”

Outlook:  SMART Global sees fourth-quarter earnings of 40 cents per share, plus or minus 15 cents, versus the 39 cent estimate and revenue of $325 million, plus or minus $25 million, versus the $322.22 million consensus estimate.

SGH Price Action: According to Benzinga Pro, SMART Global shares are up 7.41% after-hours at $24.94 at the time of publication Tuesday.

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