Axcelis Technologies Updates Q4 Outlook

(RTTNews) - Axcelis Technologies, Inc. (ACLS), Tuesday updated its financial guidance for the fourth quarter and the full year 2022.

The company now expects revenues for the fourth quarter to exceed $250 million, above prior guidance of about $232 million to 240 million, and to generate full year 2022 revenue above $900 million.

Earnings per share are forecasted to be greater than $1.45 for the fourth quarter, up from the previous guidance of around $1.00 to 1.10. The company expects earnings per share of greater than $5.00 for the full year 2022.

Analysts polled by Thomson Reuters currently estimate earnings of $1.05 per share and revenues of $234.49 million for the quarter.

Analysts estimate earnings of $4.80 per share and revenues of $884.03 million for the full year.

President and CEO Mary Puma commented, "Our performance in the fourth quarter was a result of strong execution by Axcelis employees delivering higher than expected system shipments and aftermarket revenue. Favorable FX also positively impacted our earnings per share in the quarter." Puma continued, "We expect year over year growth in 2023 based on robust demand for the Purion product family, especially in the power device segment."