Shares of Knowles Corporation (NYSE: KN), a leading provider of advanced micro-acoustic solutions, soared by 5.23% on Thursday, October 25th, 2024, following the company's impressive third-quarter earnings report and upbeat guidance for the fourth quarter.

Knowles reported third-quarter revenue of $143 million, a 32% increase year-over-year, driven by the successful acquisition of Cornell and organic growth of 4%. The company's adjusted EBITDA margins stood at a robust 24.6%, reflecting strong operational performance.

The MedTech and Specialty Audio segment, a key growth driver for Knowles, reported revenue of $64 million, up 10% year-over-year, fueled by new product adoption and cutting-edge technology. The Precision Devices segment, which includes the Cornell acquisition, saw revenue surge 57% to $79 million.

Despite some headwinds, such as unfavorable product mix and elevated inventory levels in industrial markets, Knowles' management remained optimistic about the company's growth prospects. The company's CEO, Jeffrey Niew, highlighted the strength of the defense and MedTech markets, as well as opportunities for further margin expansion through synergies and operational improvements.

Analysts welcomed Knowles' positive earnings report, with Robert W. Baird analyst Tristan Gerra maintaining a "Buy" rating on the stock and setting a price target of $25.00. Gerra cited the company's strong fundamentals and strategic divestiture as key factors driving their optimism.