Asia tech stocks slide tracking Wall St losses amid AI doubts, govt. uncertainty
Investing.com -- Ultra Clean Holdings, Inc. (NASDAQ:UCTT) reported first quarter earnings that fell short of analyst expectations, sending its stock down 9.5% in after-hours trading. The semiconductor equipment supplier also provided disappointing guidance for the second quarter as customers reassess spending amid economic uncertainty.
For the first quarter ended March 28, 2025, Ultra Clean reported adjusted earnings per share of $0.28, missing the analyst consensus of $0.31. Revenue came in at $518.6 million, below the $561.33 million analysts had forecast and down 7.9% YoY.
"UCT’s first quarter results were impacted by softening demand late in the quarter as customers reassessed their spending in reaction to an increasingly uncertain and volatile business environment," said Clarence Granger, UCT Interim CEO.
The company expects second-quarter revenue between $475 million and $525 million, falling short of analyst expectations of $530 million. Ultra Clean forecasts adjusted earnings per share of $0.17 to $0.37 for Q2, lower than analyst estimates of $0.38.
Ultra Clean’s Products segment contributed $457.0 million in Q1 revenue, while Services added $61.6 million. The company’s adjusted gross margin was 16.7%, down slightly from 16.8% in the previous quarter.
Granger added, "Amid reduced industry visibility and an increasingly dynamic geopolitical landscape, we are focused on execution for our customers, while controlling our costs and maximizing our business efficiency."
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