ASML Holdings (ASML) misses Q2 earnings expectations, offers outlook
ASML Holdings (NASDAQ: ASML) reported Q2 EPS of EUR4.92, EUR0.10 worse than the analyst estimate of EUR5.02. Revenue for the quarter came in at EUR6.9 billion versus the consensus estimate of EUR7.28 billion.
"Our second-quarter net sales came in at €6.9 billion, at the high end of our guidance, with a gross margin of 51.3%, higher than guided, primarily driven by additional DUV immersion revenue in the quarter.
"Our customers across different market segments are currently more cautious due to continued macro-economic uncertainties, and therefore expect a later recovery of their markets. Also, the shape of the recovery slope is still unclear. However, our strong backlog of around €38 billion provides us with a good basis to navigate these short-term uncertainties."
For Q3, ASML sees sales between EUR6.5 billion and EUR 7 billion, missing the consensus for Q3 revenue of EUR7.41 billion.
"ASML expects R&D costs of around €1.0 billion and SG&A costs of around €285 million. Due to strong DUV revenue and despite the increased uncertainties, ASML expects strong growth for 2023 with a net sales increase towards 30% and a slight improvement in gross margin, relative to 2022," said ASML President and Chief Executive Officer Peter Wennink.
Full-year sales growth forecast is raised to 30%, up from a previous 25%.
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