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Mar 31, 2024
Axcelis Q1 2024 Earnings Report
Axcelis reported strong financial results in Q1 2024, driven by the power device segment and shipments to China, exceeding revenue, gross margin, and EPS guidance.
Key Takeaways
Axcelis announced first quarter revenue of $252.4 million with a gross margin of 46%. Operating profit was $56.5 million and net income reached $51.6 million, or $1.57 per diluted share.
Revenue for Q1 2024 was $252.4 million.
Gross margin for Q1 2024 was 46%.
Operating profit for Q1 2024 was $56.5 million.
Net income for Q1 2024 was $51.6 million, or $1.57 per diluted share.
Forward Guidance
For the second quarter ending June 30, 2024, Axcelis expects revenues of approximately $245 million. Gross margin in the second quarter is expected to be approximately 43.5%. Second quarter operating profit is forecast to be approximately $47 million with earnings per diluted share of around $1.30.
Positive Outlook
- Expects revenues of approximately $245 million for Q2 2024.
- Gross margin in the second quarter is expected to be approximately 43.5%.
- Second quarter operating profit is forecast to be approximately $47 million
- Expect earnings per diluted share of around $1.30 for Q2 2024.
- Expects full year margins to improve year over year.
Challenges Ahead
- Gross margin is expected to decrease to approximately 43.5% due to closing several evaluations.
- Revenue for Q2 2024 is expected to be lower than Q1 2024.
- Operating profit is forecast to be approximately $47 million for Q2 2024, lower than Q1 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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