Ichor (NASDAQ: ICHR) reported Q1 EPS of $0.76, $0.04 better than the analyst estimate of $0.72. Revenue for the quarter came in at $256 million versus the consensus estimate of $258.2 million.

“We are very pleased to report today a record quarter for Ichor, with revenues at the high end of our expectations and increasing 8% over a very strong fourth quarter,” commented Jeff Andreson, chief executive officer of Ichor. “Industry conditions for wafer fab equipment have continued to strengthen for four straight quarters now, and, in turn, we have demonstrated strong execution in a challenging operating environment in order to ramp our business in response to customer demand. In Q1, we again exhibited the operating leverage in our business model, with quarter-on-quarter increases in both gross margin and operating margin, while also delivering another quarter of strong free cash flow generation.” Mr. Andreson concluded, “Our current visibility through the end of 2021 indicates a stronger Q2 compared to Q1, a stronger second half compared to the first half, and continued incremental improvements to our profitability. With industry growth currently expected to continue through both this year and next year, we believe Ichor is extremely well-positioned to continue to deliver strong revenue growth and operational leverage.”

GUIDANCE:

Ichor sees Q2 2021 EPS of $0.77-$0.93, versus the consensus of $0.79. Ichor sees Q2 2021 revenue of $270-300 million, versus the consensus of $274.62 million.

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