Semiconductor photomask manufacturer Photronics (NASDAQ: PLAB) will be announcing earnings results this Wednesday before market hours. Here’s what you need to know.
Photronics beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $210.4 million, flat year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but revenue guidance for next quarter slightly missing analysts’ expectations.
Is Photronics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Photronics’s revenue to decline 8.1% year on year to $204.5 million, a further deceleration from the 2.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.45 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Photronics has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Photronics’s peers in the semiconductor manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Teradyne delivered year-on-year revenue growth of 4.3%, beating analysts’ expectations by 3.3%, and Kulicke and Soffa reported a revenue decline of 2.1%, topping estimates by 4.4%. Teradyne traded up 19.8% following the results while Kulicke and Soffa was also up 10.6%.
Read our full analysis of Teradyne’s results here and Kulicke and Soffa’s results here.
There has been positive sentiment among investors in the semiconductor manufacturing segment, with share prices up 7% on average over the last month. Photronics is up 13.2% during the same time and is heading into earnings with an average analyst price target of $33 (compared to the current share price of $25.48).
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