Ultra Clean Q3 revenue beats expectations
Ultra Clean Q3 revenue beats expectations
Overview
US semiconductor equipment supplier's Q3 revenue rose 49% yr/yr, beating analyst expectations
Non-GAAP EPS for Q3 was $1.15
Company cites scaling production to meet accelerating customer demand as key growth driver
Outlook
Ultra Clean expects Q4 revenue between $800 mln and $860 mln
Company sees Q4 GAAP EPS between $1.02 and $1.26
Ultra Clean forecasts Q4 non-GAAP EPS between $1.11 and $1.35
Result Drivers
ACCELERATING CUSTOMER DEMAND - Co said scaling production to meet rising demand drove Q3 results, per CEO James Xiao
AI INDUSTRY EXPANSION - Co attributed growth opportunities to AI-driven expansion in semiconductor industry
PRODUCTS DIVISION - Products division contributed $681.9 mln to Q3 revenue, supporting overall growth
Company press release: ID:nPn9R6lHTa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $759 mln | $728.07 mln (5 Analysts) |
Q3 Net Income |
| $40.80 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 $135.00, about 189% above its October 26 closing price of $46.71
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 38 three months ago
Reuters Recommended Reads
Oct 27 - Netherlands' ASM International Q3 revenue jumps on strong growth in memory sales
Oct 27 - ASM International expects Q4 sales above forecasts, to hit 2030 goal three years early
Oct 27 - Bank of Korea warns country's chip exports could fall by up to $100 billion if AI spending slows
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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.)