Ichor (ICHR) Misses Q1 EPS by 8c

Ichor (NASDAQ: ICHR) reported Q1 EPS of $0.52, $0.08 worse than the analyst estimate of $0.60. Revenue for the quarter came in at $220 million versus the consensus estimate of $213.71 million.

“During this unprecedented and challenging time, our top priority is to ensure the health and safety of our workforce and their families, while continuing to deliver exceptional service to our customers,” said Jeff Andreson, chief executive officer of Ichor. “Since the global outbreak of the COVID‑19 pandemic, we have taken all appropriate actions to protect our people and to maintain business operations safely, while also supporting the strong levels of demand from our customers. Given the significant supply-chain disruptions taking place globally, our teams in multiple locations made an extraordinary effort to deliver our third-strongest revenue quarter in the company’s history, executing on a nearly 60% ramp in revenues in just three quarters.” Mr. Andreson concluded: “Our revenue growth performance over the last year is more than double the rate of growth in overall wafer fab equipment spending, as a direct result of our increased market share and growing footprint within our served markets. While our business will continue to be impacted in the short-term by the ongoing effects of COVID‑19, we are on solid financial footing, and we remain highly optimistic about the long-term prospects of the industry, the criticality of our solutions, and our ability to grow faster than our served markets across the cycles.”

GUIDANCE:

Ichor sees Q2 2020 EPS of $0.32-$0.54, versus the consensus of $0.57. Ichor sees Q2 2020 revenue of $180-220 million, versus the consensus of $203.06 million.

For earnings history and earnings-related data on Ichor (ICHR) click here.

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