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Formfactor (FORM)
NASDAQ:FORM
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.29Last Year’s EPS
$0.2Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -2.12%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant achievements, such as record-breaking revenue and growth in key segments like DRAM and Systems. However, challenges remain, including a decline in gross margin, forecasted demand reduction in the Foundry and Logic segment, and quality-related costs in the Systems segment. The geopolitical situation with China presents a potential long-term challenge. Overall, the positive achievements in revenue and growth balance the challenges faced.Company Guidance
During the Q3 2024 earnings call for FormFactor, the company reported a record quarterly revenue of $207.9 million, which was $2.9 million above their outlook range. This achievement was driven by strong growth in the DRAM probe-card segment, which set a new record at $60.2 million, despite a sequential decline in HBM revenues. Non-GAAP gross margin was reported at 42.2%, slightly below the midpoint of their expectations, primarily due to a less favorable product mix and unexpected quality-related costs in their Systems segment. The guidance for Q4 2024 anticipates revenues of $190 million, with expected DRAM and Systems segment growth being offset by declines in the foundry and logic segment, leading to a non-GAAP gross margin projection of 41%. The company remains committed to its target model of achieving $2 in non-GAAP earnings per share at $850 million of revenue with a 47% gross margin, hinging on a more favorable product mix.Record-Breaking Revenue
FormFactor's third quarter revenue reached $207.9 million, exceeding the outlook range and setting an all-time company record. This represents a 21.2% year-over-year increase.
DRAM Probe-Card Revenue Surge
DRAM probe-card revenue set a third consecutive quarterly record, driven by DDR5 and high-bandwidth memory demand.
Systems Segment Growth
The Systems segment achieved a sequential increase in third quarter revenue, totaling $35.7 million, driven by demand in areas like quantum computing and silicon photonics.
Strong Diversification Strategy
FormFactor's diversification strategy across Foundry, Logic, DRAM, and Flash probe cards is contributing to stable results and overall top-line growth.
Free Cash Flow Increase
The company generated free cash flow of $20 million in the third quarter, up from $14.2 million in the second quarter.
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FORM Earnings History
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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FORM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $43.81 | $37.98 | -13.31% |
| Jul 31, 2024 | $53.56 | $47.25 | -11.78% |
| May 01, 2024 | $43.99 | $51.75 | +17.64% |
| Feb 07, 2024 | $38.12 | $38.96 | +2.20% |
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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FAQ
When does Formfactor (FORM) report earnings?
Formfactor (FORM) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Formfactor (FORM) earnings time?
Formfactor (FORM) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FORM EPS forecast?
FORM EPS forecast for the fiscal quarter 2024 (Q4) is $0.29.
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