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For the fiscal fourth quarter, the company expects revenues of $3.1 billion (+/- $300 million). The Zacks Consensus Estimate for revenues is pegged at $3.12 billion, indicating a decline of 32.7% from the year-ago reported figure.
The company anticipates non-GAAP earnings per share of $5.00 (+/- 75 cents) for fourth-quarter fiscal 2023. The consensus mark for earnings per share is pegged at $5.03, indicating a 43% fall from the prior-year reported figure. Notably, the estimate has been unchanged over the past 30 days.
Lam Research surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 11.17%.
Strength in the foundry, leading-edge nodes and specialty technologies is expected to have been the key catalyst for the company.
The growing proliferation of 5G, artificial intelligence and the Internet of Things is likely to have continued to bolster the adoption rate of the company’s advanced semiconductor and memory solutions in the fourth quarter.
The rapid adoption of foundry systems is likely to have contributed well to the company’s system revenues during the fourth quarter.
However, weakening memory spending, especially in NAND, might have been a major concern for the company during the to-be-reported quarter. This, in turn, is anticipated to have negatively impacted the company’s system revenues.
The Zacks Consensus Estimate for system revenues is pegged at $1.6 billion, indicating a decline of 46.7% from the year-ago quarter.
In addition, Lam Research has been facing significant competition in all product and service categories in the semiconductor capital equipment market. The impacts of this are likely to get reflected in the upcoming results.
Global supply challenges and macro headwinds in consumer-focused markets are expected to have been major headwinds.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Lam Research this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here.
Lam Research currently has a Zacks Rank #3 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies that, per our model, have the right combination of elements to post an earnings beat in their soon-to-be-reported quarterly results.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
Meta Platforms (META - Free Report) has an Earnings ESP of +5.83% and a Zacks Rank #2 at present.
Meta is scheduled to release second-quarter 2023 results on Jul 26. The Zacks Consensus Estimate for META’s earnings is pegged at $2.87 per share, suggesting growth of 16.7% from the prior-year fiscal period’s reported figure.
Carrier Global (CARR - Free Report) has an Earnings ESP of +1.53% and a Zacks Rank #3 at present.
Carrier is set to report second-quarter 2023 results on Jul 27. The Zacks Consensus Estimate for CARR’s earnings is pegged at 76 cents per share, suggesting growth of 10.1% from the prior-year fiscal period’s reported figure.
Image: Bigstock
What's in the Cards for Lam Research's (LRCX) Q4 Earnings?
Lam Research Corporation (LRCX - Free Report) is scheduled to report fourth-quarter fiscal 2023 results on Jul 26.
For the fiscal fourth quarter, the company expects revenues of $3.1 billion (+/- $300 million). The Zacks Consensus Estimate for revenues is pegged at $3.12 billion, indicating a decline of 32.7% from the year-ago reported figure.
The company anticipates non-GAAP earnings per share of $5.00 (+/- 75 cents) for fourth-quarter fiscal 2023. The consensus mark for earnings per share is pegged at $5.03, indicating a 43% fall from the prior-year reported figure. Notably, the estimate has been unchanged over the past 30 days.
Lam Research surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 11.17%.
Lam Research Corporation Price and EPS Surprise
Lam Research Corporation price-eps-surprise | Lam Research Corporation Quote
Key Factors to Consider
Strength in the foundry, leading-edge nodes and specialty technologies is expected to have been the key catalyst for the company.
The growing proliferation of 5G, artificial intelligence and the Internet of Things is likely to have continued to bolster the adoption rate of the company’s advanced semiconductor and memory solutions in the fourth quarter.
The rapid adoption of foundry systems is likely to have contributed well to the company’s system revenues during the fourth quarter.
However, weakening memory spending, especially in NAND, might have been a major concern for the company during the to-be-reported quarter. This, in turn, is anticipated to have negatively impacted the company’s system revenues.
The Zacks Consensus Estimate for system revenues is pegged at $1.6 billion, indicating a decline of 46.7% from the year-ago quarter.
In addition, Lam Research has been facing significant competition in all product and service categories in the semiconductor capital equipment market. The impacts of this are likely to get reflected in the upcoming results.
Global supply challenges and macro headwinds in consumer-focused markets are expected to have been major headwinds.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Lam Research this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here.
Lam Research currently has a Zacks Rank #3 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies that, per our model, have the right combination of elements to post an earnings beat in their soon-to-be-reported quarterly results.
Itron (ITRI - Free Report) has an Earnings ESP of +13.78% and sports a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
Meta Platforms (META - Free Report) has an Earnings ESP of +5.83% and a Zacks Rank #2 at present.
Meta is scheduled to release second-quarter 2023 results on Jul 26. The Zacks Consensus Estimate for META’s earnings is pegged at $2.87 per share, suggesting growth of 16.7% from the prior-year fiscal period’s reported figure.
Carrier Global (CARR - Free Report) has an Earnings ESP of +1.53% and a Zacks Rank #3 at present.
Carrier is set to report second-quarter 2023 results on Jul 27. The Zacks Consensus Estimate for CARR’s earnings is pegged at 76 cents per share, suggesting growth of 10.1% from the prior-year fiscal period’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.