KLA Q4 2023 Earnings Report

KLA's Q4 2023 results exceeded expectations, driven by the strength of its portfolio and operational execution.

Key Takeaways

KLA Corporation reported Q4 FY23 revenues of $2.355 billion, GAAP EPS of $4.97, and non-GAAP EPS of $5.40, all exceeding the mid-point of guidance. The company's performance reflects the strength of its portfolio and focused operational execution in a challenging demand environment.

Total revenues for the quarter were $2.355 billion, surpassing the guidance range.

GAAP diluted EPS was $4.97, and non-GAAP diluted EPS was $5.40, both above the guidance mid-point.

Cash flow from operating activities for the quarter reached $959.1 million, with free cash flow at $880.4 million.

Capital returns for the quarter amounted to $568.3 million.

Total Revenue

$2.36B

Previous year: $2.49B

-5.3%

EPS

$5.4

Previous year: $5.81

-7.1%

Gross Profit

$1.39B

Previous year: $1.51B

-7.7%

Cash and Equivalents

$1.93B

Previous year: $1.58B

+21.6%

Free Cash Flow

$880M

Previous year: $746M

+18.0%

Total Assets

$14.1B

Previous year: $12.6B

+11.7%

KLA

KLA Revenue by Segment

Forward Guidance

KLA anticipates revenues of $2.35 billion +/- $125 million for Q1 2024. GAAP gross margin is expected to be 59.0% +/- 1.0%, and non-GAAP gross margin is expected to be 61.0% +/- 1.0%. GAAP diluted EPS is projected to be $5.02 +/- $0.60, while non-GAAP diluted EPS is expected to be $5.35 +/- $0.60.

Positive Outlook

GAAP net income per diluted share is expected to be between $4.42 and $5.62.
Acquisition-related charges are expected to contribute $0.45.
Restructuring, severance, and other charges are expected to contribute $0.01.
The income tax effect of non-GAAP adjustments is expected to be a deduction of $0.13.
Non-GAAP net income per diluted share is projected to be between $4.75 and $5.95.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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