Microchip Technology Inc. (MCHP) Q3 2023 Earnings Call Transcript

Microchip Technology Inc. (NASDAQ:MCHP) Q3 2023 Earnings Conference Call February 2, 2023 5:00 PM ET

Company Participants

Ganesh Moorthy - President & Chief Executive Officer

James Eric Bjornholt - Senior Vice President & Chief Financial Officer

Stephen Sanghi - Executive Chair

Sajid Daudi - Head Of Investor Relations

Conference Call Participants

Toshiya Hari - Goldman Sachs

Vivek Arya - Bank of America Securities

Gary Mobley - Wells Fargo Securities

Joshua Buchalter - Cowen & Company

Raji Gill - Needham & Company

Tore Svanberg - Stifel

William Stein - Truist Securities

Ambrish Srivastava - BMO Capital Markets

Harlan Sur - JPMorgan

Matthew Myers - Susquehanna International Group, LLP

Vijay Rakesh - Mizuho Securities

Chris Danely - Citigroup

Chris Caso - Credit Suisse

Joe Moore - Morgan Stanley

Operator

Good day everyone, and welcome to Microchip's Third Quarter Fiscal 2023 Financial Results Conference Call. As a reminder, today’s call is being recorded. At this time, I would like to turn the call over to Mr. Eric Bjornholt, our CFO. Please go ahead, sir.

James Eric Bjornholt

Thank you and good afternoon, everyone. During the course of this conference call, we will be making projections and other forward-looking statements regarding future events or the future financial performance of the company, I wish to caution you that such statements are predictions and that actual events or results may differ materially. We refer you to our press releases of today as well as our recent filings with the SEC that identify important risk factors that may impact Microchip's business and results of operations.

In attendance with me today are Ganesh Moorthy, Microchip's President and CEO; Steve Sanghi, Microchip's Executive Chair; and Sajid Daudi, Microchip's Head Of Investor Relations.

I will comment on our third quarter financial performance. Ganesh will then provide commentary on our results and discuss the current business environment as well as our guidance. And Steve will provide an update on our cash return strategy. We will then be available to respond specific industrial and analyst questions.

We are including information in our press release and on this conference call on various GAAP and non-GAAP measures. We have posted the full GAAP to non GAAP reconciliation on the investor relations page of our website at www.microchip.com and included reconciliation information in our press release, which we believe you will find useful when comparing our GAAP and non-GAAP results. We have also posted a summary of our outstanding debt and our leverage metrics on our website.