The earnings call revealed strong financial performance in Q3 with revenue exceeding guidance and progress in EUV technology. However, there are significant challenges, including low order intake, pressure on free cash flow, and reduced revenue outlook for 2025 due to market uncertainties and slower recoveries.

Company Guidance

During the ASML Q3 2024 earnings call, the company provided guidance for the upcoming quarter and beyond. For Q4 2024, ASML expects total net sales to range between EUR 8.8 billion and EUR 9.2 billion, with Installed Base Management sales projected to be approximately EUR 1.9 billion. The gross margin is anticipated to fall between 49% and 50%, slightly lower than Q3's 50.8%, primarily due to the expected revenue recognition of two High-NA systems, which is expected to have a dilutive effect of about 3.5% on the gross margin. Looking ahead to 2025, ASML revised its revenue expectations to between EUR 30 billion and EUR 35 billion, down from the previous range of EUR 30 billion to EUR 40 billion, with a gross margin projected between 51% and 53%. This adjustment reflects a significant reduction in Low-NA shipments and a cautious view on China sales, which are expected to constitute around 20% of total revenue. Furthermore, the company plans to maintain R&D expenses at the upper end of the EUR 5.6 billion to EUR 6.1 billion range provided during the 2022 Investor Day.

Exceeded Revenue Guidance

Total net sales for Q3 came in at EUR 7.5 billion, above the high end of guidance, driven by more deep UV system sales and higher Installed Base Management sales.

Strong Installed Base Management

Installed Base Management sales for the quarter came in above guidance at EUR 1.54 billion due to higher service and upgrade revenue.

EUV Technology Advancements

Progress on EUV products, with the NXE:3800E system showing a 37% improvement in throughput and the High-NA system demonstrating significant performance benefits.

Q4 Revenue Growth Expectation

Expectations for Q4 total net sales are between EUR 8.8 billion and EUR 9.2 billion, higher than Q3.

Dividend Payment

ASML paid the first quarterly interim dividend over 2024 of EUR 1.52 per ordinary share, with the second quarterly interim dividend planned for the same amount.

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ASML Holding (ASML) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ASML Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 29, 2025	2024 (Q4)	7.15 / -	5.68	―	―	―
Oct 15, 2024	2024 (Q3)	5.35 / 5.76	5.069	13.57% (+0.69)
Jul 17, 2024	2024 (Q2)	4.03 / 4.38	5.517	-20.54% (-1.13)
Apr 17, 2024	2024 (Q1)	3.15 / 3.31	5.435	-39.14% (-2.13)
Jan 24, 2024	2023 (Q4)	5.17 / 5.68	5.015	13.26% (+0.67)
Oct 18, 2023	2023 (Q3)	4.92 / 5.07	4.2	20.69% (+0.87)
Jul 19, 2023	2023 (Q2)	5.12 / 5.52	3.615	52.61% (+1.90)
Apr 19, 2023	2023 (Q1)	4.54 / 5.43	1.88	189.10% (+3.55)
Jan 25, 2023	2022 (Q4)	4.63 / 5.01	4.98	0.70% (+0.03)
Oct 19, 2022	2022 (Q3)	3.65 / 4.20	4.973	-15.54% (-0.77)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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ASML Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 15, 2024	$870.55	$728.99	-16.26%
Jul 17, 2024	$1064.41	$928.76	-12.74%
Apr 17, 2024	$971.75	$902.80	-7.10%
Jan 24, 2024	$773.12	$841.57	+8.85%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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