Ichor Q1 revenue $226M; Q2 outlook sharply lower on memory weakness

ICHOR HOLDINGS, LTD.

2024-Q1 EPS reported $0.00 revenue$225,870,000

Revenue $226.0M, down 23% from Q4 2022 and 23% YoY; GAAP diluted EPS $0.00.
GAAP gross margin 14.7% (non-GAAP 15.5%) vs 16.2% in Q4 and 15.0% YoY.
Non-GAAP diluted EPS $0.38, down from $0.72 in Q4 and $0.70 YoY.
Q2 2023 guidance: revenue $170-190M, non-GAAP EPS ($0.08)-$0.08.
CEO cites memory market weakness and softening leading-edge logic as primary headwinds.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ICHOR HOLDINGS, LTD. reported first quarter 2023 results: revenue $225.9 million, net income net loss of $0.0 million, EPS $0.00.

Period: first quarter 2023
Revenue: $225.9 million
Net income: net loss of $0.0 million
EPS: $0.00
Result: reported results

Exact text from the filing

For the first quarter of 2023, revenue was $225.9 million, net loss was $0.0 million, and net loss per basic and diluted share (“diluted EPS”) was $0.00.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ICHOR HOLDINGS, LTD. reported second quarter of 2023 results: revenue $170.0 million to $190.0 million, EPS $(0.01) to $0.00 (GAAP) / $(0.08) to $0.08 (non-GAAP). Guidance initiated.

Period: second quarter of 2023
Revenue: $170.0 million to $190.0 million
EPS: $(0.01) to $0.00 (GAAP) / $(0.08) to $0.08 (non-GAAP)
Guidance: initiated
Result: guidance update

Exact text from the filing

For the second quarter of 2023, we expect revenue to be in the range of $170.0 million to $190.0 million. We expect GAAP diluted EPS to be in the range of $(0.01) to $0.00 and non-GAAP diluted EPS to be in the range of $(0.08) to $0.08.

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Source: SEC EDGAR

accession 0001628280-23-016805

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