Veeco Instruments Lifts Q4 Revenue Outlook

(RTTNews) - Veeco Instruments Inc. (VECO), a manufacturer of semiconductor process equipment, Tuesday provided updated outlook for the fourth quarter.

Veeco now expects fourth-quarter revenue to be in the range of $175 million - $185 million, up from the previous outlook of $165 million - $185 million.

The company currently sees EPS for the fourth quarter to be in the range of $0.09 - $0.28, lower than the previous outlook of $0.18 - $0.27. Adjusted EPS outlook has been revised to $0.36 - $0.44 from $0.35 - $0.45.

On average, 6 analysts expect the company to report earnings of $0.40 per share on revenue of $176.08 million. Analysts' estimates typically exclude special items.

For the full year, EPS is expected in the range of $1.07 to $1.26, while adjusted EPS is expected between $1.69 and $1.76. The consensus estimate stands at $1.72.

Veeco said that the updated guidance reflects the company's market penetration not meeting expectations with regard to its Silicon Carbide Epitaxy technology acquired in 2023.