Austria's ams OSRAM expects lower Q4 revenue, weak 2025 start (updated)
07/11/2024 07:12
(Recasts paragraph 1, adds comment in paragraph 2, analysts' Q4
estimate in paragraph 3)
Nov 7 (Reuters) - Austrian semiconductor manufacturer
ams OSRAM AMS.S on Thursday forecast lower revenue in the
fourth quarter due to uncertainty in the global automotive
demand outlook and expects a weak first quarter in 2025 followed
by a gradual recovery.
"The company expects the cyclical weakness in its
automotive business to become fully visible in the first
quarter, with gradual, steady improvement during the financial
year of 2025," the Swiss-listed sensor maker said in a
statement.
Ams OSRAM expects revenue in a range of 810 million to 910
million euros ($870.51-$977.98 million) for the fourth quarter,
compared to 908 million euros in the same period a year earlier.
Analysts were expecting sales of 924 million euros for the
quarter, according to a poll by Vara Research.
Automotive-focused companies such as ams ORSAM,
STMicroelectronics STMPA.PA , and Aixtron AIXGn.DE , have been
hit by weaker automotive sales, particularly electric vehicles
which contain more chips per car.
Ams OSRAM posted revenue of 881 million euros for the third
quarter, down 3% from a year earlier and below analysts'
forecast of 875.7 million euros in a poll by Vara Research.
($1 = 0.9305 euros)
(Reporting by Ozan Ergenay and Nathan Vifflin; Editing by
Christopher Cushing and Eileen Soreng)
((Ozan.Ergenay@thomsonreuters.com;
nathan.vifflin@thomsonreuters.com))