SMART Global Holdings Reports Improved Q3 2024 Financial Results; Shares Rise 7.7%

SMART Global Holdings, Inc. (SGH) reported its third-quarter fiscal 2024 financial results, showing a notable performance improvement. The company achieved net sales of $300.6 million, representing a 5.5% increase compared to the prior quarter. The GAAP gross margin rose to 29.6% from 28.8%, and the non-GAAP gross margin increased to 32.3% from 31.5%. Additionally, SGH reported a GAAP EPS of $0.10, a significant turnaround from a loss of $0.26 in the previous quarter. The non-GAAP EPS also saw an improvement. Following the earnings report, SGH shares rose by 7.7% pre-market. This information was discussed during the earnings call, as reported by MW.