Photronics (PLAB) Q2 Earnings Miss Estimates, Revenues Fall Y/Y

Photronics (PLAB) reported second-quarter fiscal 2024 non-GAAP earnings of 46 cents per share, missing the Zacks Consensus Estimate by 16.36% and decreasing 14.8% year over year. Revenues of $217 million inched down 5% year over year and up 0.3% sequentially. The year-over-year decline was caused by the impact of the Taiwan earthquake and the Chinese New Year holiday. The earthquake also resulted in a sales decline of approximately $3 million due to production downtime and losses in inventory across the IC ...