Financial Data and Key Metrics Changes - The company reported Q2 2024 revenue of $257 million, exceeding the previous outlook of $245 million, with earnings per diluted share of $1.55, significantly above the prior estimate of $1.30 [7][16][20] - Gross margins for Q2 were 43.8%, slightly above the expected 43.5%, driven by better volumes and a favorable systems mix [18] - Operating profit was $53 million, reflecting a 20.6% operating margin, impacted by restructuring charges of approximately $1.4 million [19] Business Line Data and Key Metrics Changes - Systems revenue totaled $199 million, with the Mature segment comprising 98% of total system revenue, driven by strong demand for silicon carbide applications [7][8] - Advanced Logic revenue was only 2% of total system revenue, but the company made significant progress in this area, including closing a Purion Dragon evaluation unit [10] - No systems revenue was generated from the memory market in Q2, but initial spending for DRAM is expected as the year progresses [11] Market Data and Key Metrics Changes - China accounted for 55% of total system sales, remaining the strongest region for the company [17] - Demand for silicon carbide applications is expected to remain healthy, particularly in the EV market, while demand for silicon IGBT applications was soft [8][9] - Image Sensor demand was robust in China but subdued elsewhere, with signs of growth as customer quoting activity increased [9] Company Strategy and Development Direction - The company aims to capitalize on secular growth in power applications, particularly silicon carbide, which is projected to grow at a 25% CAGR from 2023 to 2029 [13] - The company is focused on geographic expansion in Japan and increasing penetration in the market while leveraging customer relationships [15] - The long-term growth model targets approximately $1.6 billion by 2027, driven by advancements in AI, electrification, and increased semiconductor demand [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a slight revenue increase in the second half of 2024, with momentum expected to build into 2025 [12][28] - The company is closely monitoring macroeconomic conditions and their impact on customer spending patterns, particularly in the General Mature segment [27] - Management remains optimistic about long-term opportunities, particularly in the power segment and the eventual recovery of memory spending [32] Other Important Information - The company ended Q2 with $548 million in cash and generated $38 million in free cash flow [20] - The systems backlog was approximately $1 billion, with system bookings totaling $105 million in Q2 [17] Q&A Session Summary Question: Changes in Power Business Outlook - Management indicated that expectations for the full year have not materially changed, with continued strength in silicon carbide and a slight moderation expected in General Mature [26][27] Question: Pathways to 2025 Revenue Model - Management acknowledged that achieving the $1.3 billion model in 2025 is possible but will require a step-up in demand across segments, particularly in Memory and General Mature [31][32] Question: Backlog and Bookings Clarification - Management confirmed that the backlog fell due to revenue load and bookings, with no significant cancellations noted [36][37] Question: Key End Markets for General Mature Business - Management highlighted consumer spending as a key driver for General Mature, with automotive and industrial sectors lagging behind [39] Question: NAND Recovery Expectations - Management expects NAND demand to improve in 2025, following a recovery in DRAM [54] Question: Customer Profile and Pull-in Activity - Management clarified that the pull-in activity was beneficial, allowing for quicker closure of evaluation units and meeting customer production needs [58] Question: IGBT Market Dynamics - Management noted that while IGBT demand is currently soft, there is potential for recovery, particularly as silicon carbide continues to gain market share [70]

Q2 EARNINGS PRESENTATION AUGUST 1, 2024 2 SAFE HARBOR STATEMENT This presentation and discussion contain forward-looking statements, including our expectations for the future market for our products, revenues, profits, and other results that are forward-looking statements under the SEC's safe harbor provision. These forward-looking statements are based on management's current expectations and are subject to the risks inherent in our business. These risks are described in detail in our Form 10-K annual repor ...

Axcelis Technologies (ACLS) came out with quarterly earnings of $1.55 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.86 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.51%. A quarter ago, it was expected that this semiconductor services company would post earnings of $1.26 per share when it actually produced earnings of $1.57, delivering a surprise of 24.60%.Over the last ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 9, 2024 Axcelis Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 000-30941 34-1818596 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 108 Cherry Hill Drive, Beverly, Massachusetts 01915 (Address of ...

Financial Performance - Axcelis Technologies reported second quarter revenue of $256.5 million, an increase from $252.4 million in the first quarter of 2024, with a gross margin of 43.8% compared to 46.0% in the previous quarter [1][2] - The operating profit for the second quarter was $52.8 million, down from $56.5 million in the first quarter, while net income was $50.9 million, or $1.55 per diluted share, compared to $51.6 million, or $1.57 per diluted share in the first quarter [1][2] Business Outlook - For the third quarter ending September 30, 2024, Axcelis expects revenues of approximately $255 million and earnings per diluted share of approximately $1.43 [3] - The company anticipates that revenue for the second half of the year will be slightly better than the first half, with momentum expected to build into 2025 [2] Management Commentary - President and CEO Russell Low highlighted strong financial results driven by better-than-expected conversion of evaluation units into revenue and robust demand in the Power segment, particularly in silicon carbide [2] - Executive Vice President and CFO Jamie Coogan expressed satisfaction with the second quarter results, noting that revenue, operating margin, and earnings per share exceeded guidance, alongside healthy cash flow [2]

Axcelis Technologies Inc (ACLS) is slated to report second-quarter 2024 results on Jul 31.ACLS recently announced its preliminary second-quarter results, per which, now it expects revenues of more than $252 million while earnings per share (EPS) are projected to be more than $1.38. This compares with previously issued revenue guidance of $245 million and EPS of $1.30. The Zacks Consensus Estimate for second-quarter revenues is pegged at $252.4 million, which suggests a decline of 7.9% from a year ago. The c ...

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Axcelis Technologies (ACLS) due to lower revenues, with a consensus EPS estimate of $1.35, reflecting a -27.4% change, and revenues expected at $252.4 million, down 7.9% from the previous year [1][2]. Earnings Estimates - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [3]. - The Most Accurate Estimate for Axcelis is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +2.97%, suggesting a bullish outlook from analysts [6]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy) [5]. - Axcelis currently holds a Zacks Rank of 1, enhancing the likelihood of beating the consensus EPS estimate [6]. Historical Performance - In the last reported quarter, Axcelis exceeded the expected EPS of $1.26 by delivering $1.57, resulting in a surprise of +24.60% [7]. - The company has consistently beaten consensus EPS estimates over the last four quarters [7]. Conclusion - While an earnings beat may not solely dictate stock movement, Axcelis is positioned as a compelling candidate for an earnings surprise, with a positive Earnings ESP and a strong Zacks Rank [8].

BEVERLY, Mass., July 17, 2024 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry will release financial results for the second quarter 2024 on Wednesday, July 31, 2024, at 4:00 p.m. ET. The Company will host a call to discuss the results for the second quarter 2024 on Thursday, August 1, 2024, at 8:30 a.m. ET. The call will be available to interested listeners via an audio webcast that can be accessed through th ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Axcelis Technologies (ACLS) , which belongs to the Zacks Electronics - Manufacturing Machinery industry, could be a great candidate to consider.This semiconductor services company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters ...

Axcelis Technologies, Inc. (ACLS) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ACLS's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross."A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving av ...