Photronics Earnings: What To Look For From PLAB
Semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) will be announcing earnings results tomorrow morning. Here’s what to look for.
Photronics missed analysts’ revenue expectations by 6.1% last quarter, reporting revenues of $217 million, down 5.4% year on year. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts’ EPS estimates.
Is Photronics a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Photronics’s revenue to be flat year on year at $225 million, slowing from the 1.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.56 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Photronics has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Photronics’s peers in the semiconductor manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Nova delivered year-on-year revenue growth of 27.8%, beating analysts’ expectations by 5.9%, and FormFactor reported revenues up 26.7%, topping estimates by 1.3%. Nova traded up 24.4% following the results while FormFactor was down 11.8%.
Read our full analysis of Nova’s results here and FormFactor’s results here.
Investors in the semiconductor manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. Photronics’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $32 (compared to the current share price of $24.33).
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