Ichor Holdings reports Q2 EPS 5c, consensus 3c

Reports Q2 revenue $203.2M, consensus $197.57M. “We are encouraged by signs of a recovery in the customer demand profile for wafer fab processing equipment as we progress through 2024,” commented Jeff Andreson, chief executive officer. “With Q2 revenues near the upper end of our expectations, we are also pleased to report continued improvement in gross margin performance over the last two quarters on similar revenue volumes. With industry demand momentum continuing to build, we expect to continue delivering on gross margin expansion and improvements in profitability and cash flow in the forthcoming quarters. Instrumental to our ability to achieve our financial performance targets are the new proprietary product introductions and customer qualifications now underway, which continue to yield positive traction and momentum. Our expectations for a stronger second half of 2024 are primarily driven by initial ramps in technology and capacity investments for leading edge semiconductor devices.”