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Jun 30, 2023
Axcelis Q2 2023 Earnings Report
Axcelis delivered strong Q2 financial performance exceeding guidance, driven by Purion demand and power devices strength.
Key Takeaways
Axcelis announced strong second quarter financial results, exceeding guidance due to significant demand for the Purion product family, especially in the silicon carbide power market. The company is upwardly revising expectations for 2023 revenue to greater than $1.1 billion, representing year-over-year growth of approximately 20%.
Axcelis delivered strong second quarter financial performance.
The performance was a result of significant demand for the Purion product family, especially in the silicon carbide power market.
Axcelis is the only company with a product line capable of covering all implant recipes in the mature process technology markets.
Axcelis is upwardly revising expectations for 2023 revenue to greater than $1.1 billion.
Forward Guidance
For the third quarter ending September 30, 2023, Axcelis expects revenues of approximately $280 million. Gross margin in the third quarter is expected to be approximately 44%. Third quarter operating profit is forecast to be approximately $64 million with earnings per diluted share of approximately $1.72. For the full year, the Company expects to achieve revenue greater than $1.1 billion and to achieve full year gross margins of approximately 44% as shown in the $1.1 billion model.
Positive Outlook
- Expects revenues of approximately $280 million for Q3 2023.
- Gross margin in the third quarter is expected to be approximately 44%.
- Third quarter operating profit is forecast to be approximately $64 million.
- Earnings per diluted share of approximately $1.72 is expected for Q3.
- Company expects to achieve revenue greater than $1.1 billion for the full year.
Historical Earnings Impact
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