Overview

* Veeco Q3 revenue declines yr/yr but beats analyst expectations

* Adjusted net income for Q3 beats analyst expectations

* Company announces pending merger with Axcelis to expand technology and market opportunities

Outlook

* Veeco expects Q4 2025 revenue between $155 mln and $175 mln

* Company projects Q4 2025 GAAP EPS between -$0.07 and $0.05

* Veeco forecasts Q4 2025 non-GAAP EPS between $0.16 and $0.32

Result Drivers

* SEMICONDUCTOR MOMENTUM - Strong performance driven by AI and high-performance computing, according to CEO Bill Miller

* MOCVD BUSINESS - New product traction in MOCVD business with multiple orders for 300mm Gallium Nitride and Arsenide Phosphide systems

* PENDING MERGER - Pending merger with Axcelis to expand technology and market opportunities

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $165.90 $160.49

Revenue mln mln (5

Analysts

)

Q3 EPS $0.17

Q3 Beat $21.80 $16.54

Adjusted mln mln (3

Net Analysts

Income )

Q3 Net $10.60

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "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 Veeco Instruments Inc ( VECO ) is $30.00, about 3.2% above its November 4 closing price of $29.04

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

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(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.)