Photronics (PLAB) Reports Q3: Everything You Need To Know Ahead Of Earnings

December 10, 2024 at 02:01 AM EST

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Semiconductor photomask manufacturer Photronics (NASDAQ: PLAB) will be announcing earnings results tomorrow before market hours. Here’s what to look for.

Photronics missed analysts’ revenue expectations by 6.2% last quarter, reporting revenues of $211 million, down 5.9% year on year. It was a disappointing quarter for the company, with 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.

This quarter, analysts are expecting Photronics’s revenue to decline 4.2% year on year to $218 million, a reversal from the 8.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.52 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. Marvell Technology delivered year-on-year revenue growth of 6.9%, beating analysts’ expectations by 4%, and Semtech reported revenues up 17.9%, topping estimates by 2%. Marvell Technology traded up 23.1% following the results while Semtech was also up 17.5%.

Read our full analysis of Marvell Technology’s results here and Semtech’s results here.

Investors in the semiconductor manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. Photronics is up 2.7% during the same time and is heading into earnings with an average analyst price target of $32 (compared to the current share price of $26.40).

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Photronics (PLAB) Reports Q3: Everything You Need To Know Ahead Of Earnings

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