Overview

* Axcelis ( ACLS ) Q2 revenue of $194.5 mln beats analyst expectations, per LSEG data

* Adjusted EPS of $1.13 surpasses consensus estimates, per LSEG data

* Company repurchased $45 mln in shares, reflecting confidence in business fundamentals

Outlook

* Axcelis ( ACLS ) expects Q3 revenue of approximately $200 mln

* Company forecasts Q3 GAAP EPS of approximately $0.87

* Axcelis ( ACLS ) projects Q3 non-GAAP EPS of approximately $1.00

Result Drivers

* DISCIPLINED COST CONTROL - Axcelis ( ACLS ) attributes strong profitability and cash flow to disciplined cost control and favorable product mix, per CFO Jamie Coogan

* CUSTOMER ENGAGEMENT - Co deepening customer engagement and expanding footprint in high-value applications, per CEO Russell Low

* CS&I MOMENTUM - Continued momentum in CS&I business supported by growing installed base, per CEO Russell Low

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $194.54 $185.10

Revenue mln mln (8

Analysts

)

Q2 Beat $1.13 $0.73 (7

Adjusted Analysts

EPS )

Q2 EPS $0.98

Q2 Net $31.38

Income mln

Q2 Gross $87.34

Profit mln

Q2 $28.96

Operatin mln

g Profit

Q2 $35 mln

Pretax

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the semiconductor equipment & testing peer group is "buy."

* Wall Street's median 12-month price target for Axcelis Technologies Inc ( ACLS ) is $75.00, about 5.5% above its August 4 closing price of $70.88

* The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)