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Mar 31, 2023
Axcelis Q1 2023 Earnings Report
Axcelis delivered strong first quarter financial performance with a new backlog record, driven by significant demand and solid execution.
Key Takeaways
Axcelis announced strong first quarter financial results for 2023, driven by significant demand and solid execution, resulting in a new backlog record. The Purion product family continues to gain market share, especially in mature process technology markets. The company anticipates revenue to exceed $1.03 billion for 2023, representing a year-over-year growth of over 12%.
Axcelis delivered strong first quarter financial performance.
New backlog record was achieved due to significant demand and solid execution.
The Purion product family continues to gain market share, especially in the mature process technology markets.
Revenue expectation increased to greater than $1.03 billion for 2023, representing year-over-year growth of over 12%.
Forward Guidance
For the second quarter ending June 30, 2023, Axcelis expects revenues between $255-260 million. Gross margin in the second quarter is expected to be approximately 42%. Second quarter operating profit is forecast to be approximately $55 million with earnings per diluted share between $1.44-1.48. For the full year, the Company expects to achieve revenue greater than $1.03 billion. Assuming expected improvements in supply chain costs and product mix occur in the second half of the year, we would expect to achieve full year gross margins of approximately 44% as shown in the $1.03 billion model.
Positive Outlook
- Revenue for Q2 2023 is expected to be between $255-260 million.
- Gross margin in Q2 2023 is expected to be approximately 42%.
- Operating profit for Q2 2023 is forecast to be approximately $55 million.
- Earnings per diluted share for Q2 2023 are expected to be between $1.44-1.48.
- Full year revenue is expected to be greater than $1.03 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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