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Jun 25, 2021
Ichor Q2 2021 Earnings Report
Ichor achieved revenue record, sequential gross margin improvement, and earnings at the upper end of forecast
Key Takeaways
Ichor Holdings reported strong financial results for the second quarter of 2021, achieving a revenue record and improvements in gross margin and profitability. The company's performance was driven by favorable product mix and progress on cost reduction initiatives.
Revenues reached $282 million, a 27% increase year-over-year.
GAAP gross margin was 16.8%.
GAAP net earnings were $0.79 per diluted share, while non-GAAP net earnings were $0.90 per diluted share.
Cash flow from operations was $13 million, and free cash flow was $3 million.
Forward Guidance
For the third quarter of 2021, Ichor expects revenue to be in the range of $290 million to $320 million. GAAP diluted EPS is expected to be in the range of $0.75 to $0.92, and non-GAAP diluted EPS is expected to be in the range of $0.90 to $1.06.
Positive Outlook
- Revenue expected to be in the range of $290 million to $320 million.
- GAAP diluted EPS expected to be in the range of $0.75 to $0.92.
- Non-GAAP diluted EPS expected to be in the range of $0.90 to $1.06.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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