Overview

* Ultra Clean ( UCTT ) Q2 revenue of $518.8 mln beats analyst expectations, per LSEG data

* Adjusted EPS for Q2 meets analyst expectations, per LSEG data

* Company reports $151.1 mln goodwill impairment, impacting GAAP net income

Outlook

* Ultra Clean ( UCTT ) expects Q3 revenue between $480 mln and $530 mln

* Company anticipates GAAP diluted net loss per share of $0.09 to $0.29

* Ultra Clean ( UCTT ) projects non-GAAP diluted net income per share of $0.14 to $0.34

* Company expects stable near-term revenue

Result Drivers

* GOODWILL IMPAIRMENT - A $151.1 mln noncash charge from goodwill impairments significantly impacted Q2 results

* OPERATING EXPENSE REDUCTION - Co is actively reducing operating expenses, expecting benefits later this year

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $518.80 $500.80

Revenue mln mln (4

Analysts

)

Q2 Meet $0.27 $0.27 (4

Adjusted Analysts

EPS )

Q2 Net -$160.50

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "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 Ultra Clean Holdings Inc ( UCTT ) is $31.00, about 22.7% above its July 25 closing price of $23.96

* The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 10 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.)