Ichor Q3 2024 Earnings Report
Key Takeaways
Ichor Holdings reported Q3 2024 financial results with revenues above the guidance range at $211 million. The company achieved a GAAP EPS of $(0.08) and a non-GAAP EPS of $0.12. They also saw strengthening customer demand and progress in increasing proprietary content.
Revenues of $211 million, exceeded the guidance range communicated in August.
GAAP gross margin was 13.2% and non-GAAP gross margin was 13.6%.
GAAP earnings per share was $(0.08) and non-GAAP earnings per share was $0.12.
Generated positive free cash flow for the sixth consecutive quarter.
Ichor
Ichor
Forward Guidance
For the fourth quarter of 2024, Ichor expects revenue to be in the range of $220 million to $235 million. GAAP diluted EPS is expected to be in the range of $0.01 to $0.13 and non-GAAP diluted EPS to be in the range of $0.21 to $0.33.
Positive Outlook
- Revenue expected to be between $220 million and $235 million.
- GAAP diluted EPS expected to be between $0.01 and $0.13.
- Non-GAAP diluted EPS expected to be between $0.21 and $0.33.
- Anticipates continued momentum driving top-line results.
- Expects continued execution of gross margin expansion strategies.
Challenges Ahead
- Non-GAAP diluted EPS excludes amortization of intangible assets of approximately $2.2 million.
- Non-GAAP diluted EPS excludes share-based compensation expense of approximately $4.7 million.
- Outlook excludes related income tax effects.
- Faces challenges in the business environment affecting demand.
- Dependent on expenditures by manufacturers and cyclical downturns.