SoFi shares rise as record revenue, member growth drive strong Q3 results
Investing.com -- Ultra Clean Holdings, Inc. (NASDAQ:UCTT) reported third quarter earnings that beat analyst expectations, but shares fell 2.8% in after-hours trading Tuesday as the company’s fourth quarter earnings guidance failed to impress investors.
The semiconductor equipment supplier posted adjusted earnings per share of $0.28 for the third quarter, exceeding the analyst estimate of $0.22. However, revenue came in at $510 million, slightly above the midpoint of the company’s guidance range but below the consensus estimate of $505.23 million. Product revenue contributed $445 million while services added $65 million.
For the fourth quarter, Ultra Clean Holdings provided earnings guidance of $0.11 to $0.31 per share, with the midpoint of $0.21 falling below the analyst consensus of $0.24. The company expects revenue between $480 million and $530 million, with the midpoint aligning closely with analyst expectations of $508.6 million.
"We are very pleased with our third quarter results having achieved our highest gross margins for the year and exceeding the mid-point of our guidance on the top and bottom line," said James Xiao, CEO. "Despite near-term volatility and reduced visibility, AI-enabled high-performance computing remains the central force behind semiconductor innovation."
The company’s adjusted gross margin improved to 17.0% in the third quarter, up from 16.3% in the previous quarter. Operating margin also increased slightly to 5.7% from 5.5% in the prior quarter.
On a GAAP basis, Ultra Clean reported a net loss of -$10.9 million, or -$0.24 per diluted share, compared to a net loss of -$162.0 million, or -$3.58 per diluted share, in the second quarter.
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