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Jun 26, 2022
Lam Research Q4 2022 Earnings Report
Lam Research achieved record revenue and EPS in Q4 2022, navigating a supply-constrained environment.
Key Takeaways
Lam Research reported revenue of $4.64 billion and GAAP EPS of $8.74 for the quarter ended June 26, 2022. The company's performance was driven by solid operational execution, technology leadership, and a robust installed base business.
Revenue reached $4.64 billion.
GAAP gross margin was 45.3%, with GAAP operating income at 31.9% of revenue, and GAAP diluted EPS of $8.74.
Non-GAAP gross margin was 45.2%, non-GAAP operating income was 31.5% of revenue, and non-GAAP diluted EPS was $8.83.
Cash and cash equivalents decreased to $3.9 billion.
Revenue by Segment
Forward Guidance
For the quarter ended September 25, 2022, Lam is providing revenue guidance of $4.9 billion +/- $300 million and net income per diluted share of $9.48 +/- $0.75.
Positive Outlook
- Revenue: $4.9 Billion +/- $300 Million
- Gross margin as a percentage of revenue: 45.0% +/- 1%
- Operating income as a percentage of revenue: 31.4% +/- 1%
- Net income per diluted share: $9.48 +/- $0.75
- Diluted share count: 137 Million
Challenges Ahead
- Supply chain disruptions may limit ability to meet demand.
- Supply chain cost increases and other inflationary pressures may impact profitability.
- Trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit ability to sell products.
- Business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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