Semiconductor equipment firm ACM Research's Q2 revenue misses estimates
Overview
ACM Research Q2 revenue rises 6.4% yr/yr but misses analyst expectations
Company maintains FY 2025 revenue guidance of $850 mln to $950 mln
Gross margin for Q2 exceeds long-term target range, reaching 48.5%
Outlook
ACM maintains 2025 revenue guidance of $850 mln to $950 mln
Company considers trade policy, customer spending in guidance
ACM expects continued growth in China and global markets
Company notes supply chain constraints affecting guidance
Planned tool deliveries to the U.S. in Q3 as part of global expansion efforts
Result Drivers
PRODUCT PORTFOLIO - Growth driven by single wafer cleaning, Tahoe, and semi-critical cleaning equipment, along with ECP, furnace, and advanced packaging technologies
TECHNOLOGY UPGRADES - Repeat orders for upgraded Ultra C wb Wet Bench cleaning tool with nitrogen bubbling technology, enhancing etching rate uniformity
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $215.37 mln | $223.40 mln (7 Analysts) |
Q2 EPS |
| $0.44 |
|
Q2 Net Income |
| $29.76 mln |
|
Q2 Gross Margin |
| 48.5% |
|
Q2 Basic EPS |
| $0.47 |
|
Q2 Operating income |
| $31.69 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"
Wall Street's median 12-month price target for ACM Research Inc is $35.85, about 17.3% above its August 5 closing price of $29.65
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nGNXYwtJJ
