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Key Factors to Note Ahead of Axcelis' (ACLS) Q3 Earnings
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Axcelis Technologies Inc (ACLS - Free Report) is slated to report third-quarter 2023 results on Nov 1.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $281.3 million, which suggests growth of 22.7% from a year ago. The consensus mark for earnings is pegged at $1.73 per share, indicating a year-over-year increase of 43%.
ACLS’ earnings beat the Zacks Consensus Estimate in each of the last four quarters by an average of 16.5%.
In the last reported quarter, revenues jumped 23.9% year over year to $274 million driven by strong demand for Purion products. Axcelis reported earnings of $1.86 per share compared with $1.32 in the prior-year quarter.
For the third quarter of 2023, Axcelis expects revenues to be $280 million. Earnings per share are estimated to be $1.72. Gross margin is anticipated to be 44%. Operating profit is projected to be $64 million.
Axcelis is likely to have benefited from continued demand for Purion suite of products, especially in the fast-growing silicon carbide power segment.
The transition to electric vehicles is driving the silicon carbide power device market. This, in turn, is boosting demand for Purion products, especially PurionH200 silicon carbide, Purion XE silicon carbide systems and Purion M silicon carbide tool.
Driven by solid momentum in Purion Power Series product line, the power device market segment represented 39% of the company’s shipped systems revenues in 2022. Increasing Purion installed base is likely to have boosted Axcelis’ Customer Solutions & Innovation aftermarket business.
ACLS’ advanced Purion Product Extensions have been aiding Axcelis to gain further share in the sensor and power device manufacturing space. With these product extensions in its portfolio, Axcelis has been boasting implant products for both the silicon IGBT and silicon carbide power device market segments.
However, ACLS’ performance in the third quarter is likely to have been affected due to lingering supply-chain constraints and global macroeconomic weakness. Soft demand from memory and advanced logic customers is an added concern. Increasing expenses toward research and development, and infrastructure are likely to be headwinds.
Recent Developments
In October 2023, the company announced that it shipped Purion EXE SiC Power Series 200mm high energy implanter to a leading SiC power device chipmaker based in Japan.
Prior to that, ACLS shipped Purion Dragon high current implanter to a leading research and innovation center specializing in nanoelectronics and digital technologies in Europe. The solution will be utilized in technology development for advanced logic devices.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Axcelis 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.
ACLS has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few stocks that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter.
The Zacks Consensus Estimate for ITRI’s to-be-reported quarter’s earnings and revenues is pegged at 51 cents per share and $540.8 million, respectively. Shares of ITRI have gained 17% in the past year.
CDW Corporation (CDW - Free Report) has an Earnings ESP of +0.17% and presently carries a Zacks Rank #3. CDW is slated to release quarterly numbers on Nov 1.
The Zacks Consensus Estimate for CDW’s to-be-reported quarter’s earnings and revenues is pegged at $2.59 per share and $5.82 billion, respectively. Shares of CDW have increased 15.1% in the past year.
GoDaddy Inc (GDDY - Free Report) has an Earnings ESP of +8.11% and currently sports a Zacks Rank #1. GDDY is scheduled to report quarterly earnings on Nov 2.
The Zacks Consensus Estimate for GDDY’s to-be-reported quarter’s earnings and revenues is pegged at 71 cents per share and $1.06 billion, respectively. Shares of GDDY have plunged 10.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Key Factors to Note Ahead of Axcelis' (ACLS) Q3 Earnings
Axcelis Technologies Inc (ACLS - Free Report) is slated to report third-quarter 2023 results on Nov 1.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $281.3 million, which suggests growth of 22.7% from a year ago. The consensus mark for earnings is pegged at $1.73 per share, indicating a year-over-year increase of 43%.
ACLS’ earnings beat the Zacks Consensus Estimate in each of the last four quarters by an average of 16.5%.
In the last reported quarter, revenues jumped 23.9% year over year to $274 million driven by strong demand for Purion products. Axcelis reported earnings of $1.86 per share compared with $1.32 in the prior-year quarter.
For the third quarter of 2023, Axcelis expects revenues to be $280 million. Earnings per share are estimated to be $1.72. Gross margin is anticipated to be 44%. Operating profit is projected to be $64 million.
Axcelis Technologies, Inc. Price and EPS Surprise
Axcelis Technologies, Inc. price-eps-surprise | Axcelis Technologies, Inc. Quote
Factors to Note
Axcelis is likely to have benefited from continued demand for Purion suite of products, especially in the fast-growing silicon carbide power segment.
The transition to electric vehicles is driving the silicon carbide power device market. This, in turn, is boosting demand for Purion products, especially PurionH200 silicon carbide, Purion XE silicon carbide systems and Purion M silicon carbide tool.
Driven by solid momentum in Purion Power Series product line, the power device market segment represented 39% of the company’s shipped systems revenues in 2022. Increasing Purion installed base is likely to have boosted Axcelis’ Customer Solutions & Innovation aftermarket business.
ACLS’ advanced Purion Product Extensions have been aiding Axcelis to gain further share in the sensor and power device manufacturing space. With these product extensions in its portfolio, Axcelis has been boasting implant products for both the silicon IGBT and silicon carbide power device market segments.
However, ACLS’ performance in the third quarter is likely to have been affected due to lingering supply-chain constraints and global macroeconomic weakness. Soft demand from memory and advanced logic customers is an added concern. Increasing expenses toward research and development, and infrastructure are likely to be headwinds.
Recent Developments
In October 2023, the company announced that it shipped Purion EXE SiC Power Series 200mm high energy implanter to a leading SiC power device chipmaker based in Japan.
Prior to that, ACLS shipped Purion Dragon high current implanter to a leading research and innovation center specializing in nanoelectronics and digital technologies in Europe. The solution will be utilized in technology development for advanced logic devices.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Axcelis 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.
ACLS has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few stocks that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter.
Itron (ITRI - Free Report) has an Earnings ESP of +23.18% and currently flaunts a Zacks Rank of 1. ITRI is set to announce quarterly figures on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ITRI’s to-be-reported quarter’s earnings and revenues is pegged at 51 cents per share and $540.8 million, respectively. Shares of ITRI have gained 17% in the past year.
CDW Corporation (CDW - Free Report) has an Earnings ESP of +0.17% and presently carries a Zacks Rank #3. CDW is slated to release quarterly numbers on Nov 1.
The Zacks Consensus Estimate for CDW’s to-be-reported quarter’s earnings and revenues is pegged at $2.59 per share and $5.82 billion, respectively. Shares of CDW have increased 15.1% in the past year.
GoDaddy Inc (GDDY - Free Report) has an Earnings ESP of +8.11% and currently sports a Zacks Rank #1. GDDY is scheduled to report quarterly earnings on Nov 2.
The Zacks Consensus Estimate for GDDY’s to-be-reported quarter’s earnings and revenues is pegged at 71 cents per share and $1.06 billion, respectively. Shares of GDDY have plunged 10.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.