Ultra Clean Q2 revenue beats estimates on higher customer demand
Ultra Clean Q2 revenue beats estimates on higher customer demand
Overview
Semiconductor equipment supplier's Q2 revenue beat analyst expectations
Company sees Q3 revenue between $700 mln and $750 mln
Outlook
Ultra Clean expects Q3 revenue between $700 mln and $750 mln
Company sees Q3 GAAP diluted EPS between $0.67 and $0.87
Ultra Clean expects Q3 non-GAAP diluted EPS of $0.83 to $1.03
Result Drivers
CUSTOMER DEMAND - Co said increasing customer demand contributed to Q2 results
OPERATIONAL EXECUTION - Management cited strong operational execution as a driver of Q2 performance
CAPACITY EXPANSION INITIATIVES - Co said it is expanding global manufacturing capacity and enhancing operational capabilities as part of UCT 3.0
Company press release: ID:nPnb4LrtVa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $644.90 mln | $587.65 mln (5 Analysts) |
Q2 Net Income Attributable to UCT |
| $8.70 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"
Wall Street's median 12-month price target for Ultra Clean Holdings Inc is $115.00, about 38% above its July 31 closing price of $83.31
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 28 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)