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Dec 24, 2023
Lam Research Q2 2024 Earnings Report
Lam Research reported solid financial results for the quarter ended December 24, 2023.
Key Takeaways
Lam Research announced revenue of $3.76 billion and a GAAP EPS of $7.22 for the quarter ended December 24, 2023. The company's non-GAAP EPS was $7.52. Investments in product differentiation and global infrastructure position the company well for future growth driven by innovations like AI.
Revenue reached $3.76 billion.
U.S. GAAP gross margin was 46.8%, with U.S. GAAP diluted EPS at $7.22.
Non-GAAP gross margin was 47.6%, with non-GAAP diluted EPS at $7.52.
Cash and cash equivalents increased to $5.6 billion.
Lam Research
Lam Research
Lam Research Revenue by Segment
Revenue by Segment
Systems Revenue
CapyFin.com Forward Guidance
For the quarter ended March 31, 2024, Lam is providing revenue guidance of $3.7 billion +/- $300 million. U.S. GAAP gross margin is expected to be 47.2% +/- 1%, and operating income is expected to be 28.1% +/- 1%. Net income per diluted share is projected to be $6.90 +/- $0.75. Diluted share count is expected to be 132 million.
Positive Outlook
- Revenue is guided at $3.7 Billion +/- $300 Million.
- Gross margin is expected to be 47.2% +/- 1%.
- Operating income is expected to be 28.1% +/- 1%.
- Net income per diluted share is projected to be $6.90 +/- $0.75.
- Diluted share count is expected to be 132 million.
Challenges Ahead
- Guidance does not incorporate potential impacts of business combinations, asset acquisitions, or other significant arrangements.
- Reconciling items included are only those known and estimable as of the release date.
- Actual results may vary materially from the provided model.
- Guidance includes restructuring and transformational costs.
- Amortization related to intangible assets is included in reconciling items.