Axcelis Reports Steady Q3 2024 Financials

Axcelis ( (ACLS) ) has released its Q3 earnings. Here is a breakdown of the information Axcelis presented to its investors.

Axcelis Technologies, Inc., headquartered in Beverly, Massachusetts, is a leading provider of innovative ion implantation systems essential for the semiconductor manufacturing industry. The company has been serving the industry for over 45 years, offering high-productivity solutions that are crucial in the integrated circuit manufacturing process.

In its latest earnings report for the third quarter of 2024, Axcelis announced revenues of $256.6 million, maintaining a steady performance from the previous quarter. The company reported an operating margin of 18.3% and achieved a diluted earnings per share of $1.49. Despite the minor decline in net income compared to the second quarter, Axcelis continues to exhibit stable financial health.

Key financial metrics highlighted in the report include a gross margin of 42.9% and an operating profit of $46.9 million. The company experienced a slight decrease in net income, reporting $48.6 million in the third quarter compared to $50.9 million in the second quarter. Axcelis also addressed a correction in its historical backlog calculation, noting adjustments that impacted figures dating back to 2019.

Looking forward, Axcelis remains optimistic about its long-term growth prospects, driven by market share gains in advanced logic and regional expansion in Japan. The company’s management anticipates a near-term pause in mature node capacity growth but is confident about the strong customer engagement and the promising outlook in silicon carbide and memory markets.

For the fourth quarter of 2024, Axcelis projects revenues of approximately $245 million and earnings per diluted share of around $1.25, reflecting a cautious yet positive outlook for the near future.