Key PointsASML had a weak quarter, highlighted by weak orders that undercut the guidance. ASML reaffirmed guidance but expects a significant uptick in the back half that may not come. Cash flow is solid, and the balance sheet is healthy, so a buy-the-dip opportunity is emerging, but the dip isn't over, and lower prices are ahead. 5 stocks we like better than ASMLASML NASDAQ: ASML struggled in Q1 and has a warning for semiconductor investors. The warning is that new orders were less strong than hoped and und ...

Financial Performance - Q1 2024 total net sales of €5.3 billion, gross margin of 51.0%, and net income of €1.2 billion[3][4] - Q1 2024 gross margin was 50.6%, with net income as a percentage of net sales at 29.0%[29] - Net income for the quarter ended Apr 2, 2023, was €1,955.8 million, compared to €1,223.8 million in the previous quarter[39] - Total net sales for the quarter ended Mar 31, 2024, were €5,290.0 million, down from €7,237.0 million in the previous quarter[40] - Gross profit as a percentage of net sales was 51.0% for the quarter ended Mar 31, 2024, compared to 51.4% in the previous quarter[41] - Net income as a percentage of net sales decreased to 23.1% for the quarter ended Mar 31, 2024, from 28.3% in the previous quarter[41] - Net income for the quarter ended Mar 31, 2024 was €1,223.8 million, a decrease of 40.2% compared to €2,048.1 million in Dec 31, 2023[43] Sales and Bookings - Q1 2024 net bookings of €3.6 billion, including €656 million from EUV systems[3][4] - Q1 2024 net system bookings were €3,611 million[22] - Q4 2023 net system bookings were €9,186 million[23] - Q1 2024 lithography systems sold were 100 units, with net bookings of 3,752[29] - Sales of lithography systems dropped to 70 units in the quarter ended Mar 31, 2024, from 124 units in the previous quarter[41] - Value of booked systems was €3,611 million for the quarter ended Mar 31, 2024, down from €9,186 million in the previous quarter[41] Future Outlook - Q2 2024 total net sales expected between €5.7 billion and €6.2 billion, with a gross margin between 50% and 51%[3][4] - 2024 full-year outlook unchanged, with total net sales expected to be similar to 2023[3][4] - ASML's 2025 revenue opportunity modeled between €30 billion and €40 billion, with a gross margin between 54% and 56%[14] - Q2 2024 total net sales are expected to be between €5.7 billion and €6.2 billion, with a gross margin between 50% and 51%[26] - Expected Q2 2024 net sales and gross margin results[45] - Full year 2024 revenue and gross margin expectations[45] - Revenue and gross margin opportunities for 2025 and 2030[45] Costs and Expenses - Q1 2024 R&D costs of around €1,070 million and SG&A costs of around €295 million[4] - Q2 2024 R&D costs are projected to be around €1,070 million, and SG&A costs around €295 million[26] - 2024 estimated annualized effective tax rate is expected to be between 16% and 17%[26] Cash Flow and Shareholder Returns - ASML expects to return significant cash to shareholders through growing dividends and share buybacks, with €400 million worth of shares repurchased in Q1 2024[5][14] - Q1 2024 free cash flow was €194 million[31] - ASML intends to declare a total dividend for 2023 of €6.10 per ordinary share, with a final dividend proposal of €1.75 per share[24] - Share repurchase program and dividend growth plans[45] Balance Sheet and Assets - Q1 2024 shareholders' equity as a percentage of total assets was 27.8%[37] - Cash and cash equivalents increased to €7,004.7 million from €5,100.8 million[38] - Cash and cash equivalents decreased from €7,004.7 million in Dec 31, 2023 to €5,100.8 million in Mar 31, 2024, a decrease of 27.2%[42] - Inventories increased from €8,850.7 million in Dec 31, 2023 to €9,864.5 million in Mar 31, 2024, an increase of 11.5%[42] - Total assets decreased from €39,957.5 million in Dec 31, 2023 to €39,042.6 million in Mar 31, 2024, a decrease of 2.3%[42] - Short-term investments increased significantly from €5.4 million in Dec 31, 2023 to €305.3 million in Mar 31, 2024[42] Operational Metrics - ASML shipped 66 new lithography systems and 4 used lithography systems in Q1 2024[4] - ASML shipped its first NXE:3800E system in Q1 2024, featuring new multiplatform technologies for higher throughput and stability[18] - Number of payroll employees in FTEs increased to 40,940 in the quarter ended Mar 31, 2024, from 40,310 in the previous quarter[41] - Number of temporary employees in FTEs decreased to 1,773 in the quarter ended Mar 31, 2024, from 2,107 in the previous quarter[41] Cash Flow Activities - Net cash used in operating activities was €251.9 million for the quarter ended Mar 31, 2024, compared to net cash provided by operating activities of €3,197.0 million in Dec 31, 2023[43] - Purchase of property, plant and equipment was €417.3 million for the quarter ended Mar 31, 2024, a decrease of 28.5% compared to €584.0 million in Dec 31, 2023[43] - Net cash used in financing activities was €927.4 million for the quarter ended Mar 31, 2024, compared to €545.1 million in Dec 31, 2023[43] Liabilities - Total current liabilities decreased from €16,274.7 million in Dec 31, 2023 to €15,048.7 million in Mar 31, 2024, a decrease of 7.5%[42] Risks and Challenges - Expected impact of export control policies and regulations[45] - Risks related to semiconductor industry demand and capacity[45] - Impact of macroeconomic uncertainty on the semiconductor industry[45] - Risks associated with supply chain constraints and logistics[45] Strategic Plans - Plans to increase production capacity[45] - Expected performance and capabilities of new systems[45] Financial Reporting - The financial statements are prepared in accordance with US GAAP and should be read in conjunction with the 2023 Annual Report[44]

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: ASML saw a decline in net profits and bookings. Dutch tech giant ASML, which supplies chip-making machines to the semiconductor industry, on Wednesday reported a drop in net profits and orders amid a high-tech trade spat between China and the West. Net profits came in at 1.2 billion euros ($1.3 billion) in the first quarter, c ...

President Joe Biden's administration plans to press the Netherlands next week to stop its top chipmaking equipment maker ASML from servicing some tools in China, two people familiar with the matter said, as the U.S. leans on allies in its bid to hobble Beijing's tech sector.ASML on Monday said first quarter profit beat expectations while sales missed forecasts, with the compant sticking to its full-year outlook. Here's how ASML did versus LSEG consensus estimates:Net sales: 5.29 billion euros ($5.62 billion ...

ASML reports €5.3 billion total net sales and €1.2 billion net income in Q1 20242024 outlook unchanged VELDHOVEN, the Netherlands, April 17, 2024 – Today, ASML Holding NV (ASML) has published its 2024 first-quarter results. Q1 total net sales of €5.3 billion, gross margin of 51.0%, net income of €1.2 billionQuarterly net bookings in Q1 of €3.6 billion2 of which €656 million is EUVASML expects Q2 2024 total net sales between €5.7 billion and €6.2 billion, and a gross margin between 50% and 51% ASML expects 2 ...

ASML Holding N.V. (ASML) is slated to report first-quarter 2024 results on Apr 17.For the first quarter, the company expects revenues between €5 billion and €5.5 billion. The Zacks Consensus Estimate for the same is pegged at $5.73 billion, indicating a fall of 20.9% from the year-ago quarter’s actual.The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.85 per share, which indicates a decline of 46.3% from the year-ago quarter’s reported number. The estimate has been unchanged over the pa ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

ASML Holding N.V. (ASML Quick Quote - Investors are always looking for stocks that are poised to beat at earnings season and Free Report ) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report. That is because ASML Holding is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date informat ...

Key PointsASML's upcoming earnings announcement may be the spark to light this kerosene-filled stock.Markets bet that it could be an even bigger growth story than Nvidia, or so do EPS projections indicate. Valuations don't lie; institutions are buying ASML stock for a reason, and not even bears dare short it. 5 stocks we like better than The PNC Financial Services GroupThe semiconductor industry has become a focus of every investor portfolio in the past few months, as technology stocks have outperformed alm ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about ASML (ASML) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.ASML currently has an average brokera ...