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Jul 30, 2023
Applied Materials Q3 2023 Earnings Report
Applied Materials reported Q3 2023 results, with revenue of $6.43 billion and GAAP EPS of $1.85.
Key Takeaways
Applied Materials announced its Q3 2023 results, reporting revenue of $6.43 billion, a 1% decrease year-over-year. The company's GAAP EPS was $1.85, while non-GAAP EPS was $1.90. They generated $2.58 billion in cash from operations and distributed $707 million to shareholders.
Revenue was $6.43 billion, down 1% year over year.
GAAP operating margin was 28.0% and non-GAAP operating margin was 28.3%, down 1.5 points and 1.7 points year over year, respectively.
GAAP EPS was $1.85 and non-GAAP EPS was $1.90, flat and down 2% year over year, respectively.
Generated $2.58 billion in cash from operations.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
In the fourth quarter of fiscal 2023, Applied expects net sales to be approximately $6.51 billion, plus or minus $400 million. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.82 to $2.18.
Positive Outlook
- Net sales are expected to be approximately $6.51 billion, plus or minus $400 million.
- Non-GAAP adjusted diluted EPS is expected to be in the range of $1.82 to $2.18.
- Includes the normalized tax benefit of share-based compensation of $0.01 per share
- Includes a net income tax benefit related to intra-entity intangible asset transfers of $0.01 per share
- Applied Materials is the leader in materials engineering solutions
Challenges Ahead
- Excludes known charges related to completed acquisitions of $0.01 per share
- Does not reflect any items that are unknown at this time
- Additional charges related to acquisitions
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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