Ichor Holdings ( (ICHR) ) has released its Q3 earnings. Here is a breakdown of the information Ichor Holdings presented to its investors.
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Ichor Holdings, Ltd. is a prominent company in the semiconductor industry, specializing in the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment.
In its third quarter of 2024 financial results, Ichor Holdings reported revenues of $211 million, exceeding its guidance, and continued its streak of positive free cash flow generation, marking the sixth consecutive quarter. The company also noted a gradual improvement in customer demand for semiconductor process equipment, which has been challenging over the past two years.
Key financial metrics for the third quarter include a GAAP gross margin of 13.2%, a non-GAAP gross margin of 13.6%, and a GAAP earnings per share (EPS) of $(0.08), contrasting with a non-GAAP EPS of $0.12. The company also reported a net loss of $2.8 million on a GAAP basis, but a net income of $4.0 million on a non-GAAP basis, highlighting its strategic focus on increasing proprietary content and securing new design wins.
Looking ahead, Ichor Holdings projects a positive outlook for the fourth quarter of 2024, anticipating revenues between $220 million and $235 million. The company expects GAAP diluted EPS to range from $0.01 to $0.13 and non-GAAP diluted EPS from $0.21 to $0.33, reflecting optimism for continued momentum in the semiconductor equipment market as it approaches 2025.
