What changed
Knowles reported Q2 Non-GAAP diluted EPS of $0.33, a 38% YoY increase and above the high end of guided range (consensus not provided). Revenue of $166.8M grew 14% YoY, exceeding the guided range, driven by broad-based growth across Precision Devices end markets (Medtech, Defense, Industrial, Electrification). The market may miss that Q2 marked the seventh consecutive quarter with book-to-bill above 1.0, signaling sustained demand momentum into H2, with management now guiding FY2026 revenue growth of 10-12% and adjusted EBITDA growth exceeding 20%.