Axcelis Q1 revenue $252.4M, EPS $1.57 beat guidance; Q2 guide $245M

AXCELIS TECHNOLOGIES INC

2024-Q1 EPS reported $1.57 revenue$252,372,000

Q1 revenue $252.4M, net income $51.6M ($1.57 diluted EPS) above company guidance.
Gross margin 46% (up 160 bps QoQ); operating profit $56.5M.
Q2 outlook: revenue ~$245M, gross margin ~43.5%, EPS ~$1.30.
Strength in power device segment (SiC) and robust shipments to China drive results.
Cash flow and balance sheet strong; expect H2 revenue to rise vs H1.

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