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Turning to the balance sheet and working capital metrics compared to last quarter. The Q3 conversion cycle was 96 days versus 61 days in Q2. Days of inventory increased by 25 days to 92 days compared to the prior quarter of 67 days due to 2 key component purchases for higher expected Q4 revenues.
conversion cycle is rising - bad
Transcript
2024 Q3
6 May 24
Our Q3 closing inventory was $4.1 billion, which increased by 67% quarter-over-quarter from $2.5 billion in Q2 due to the purchase of key components. CapEx was $93 million for Q3, resulting in negative free cash flow of $1.6 billion for the quarter.
too much spent on inventory
Transcript
2024 Q3
6 May 24
For the third quarter of fiscal 2024 ending March 31, 2024, we expect net sales in the range of $3.7 billion to $4.1 billion,
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Transcript
2024 Q2
12 Mar 24
We expect CapEx for Q3 to be in the range of $18 million to $21 million and a range of $105 million to [ $115 million ] for the fiscal year 2024.
For the fiscal year 2024, which ends June 30, 2024, we are raising our guidance for revenues from a range of $10 billion to $11 billion to a range of $14.3 billion to $14.7 billion.
Michael, we're now ready for Q&A.
(No comment added)
Transcript
2024 Q2
12 Mar 24
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