Overview

* Photronics ( PLAB ) fiscal Q3 revenue down 0.3% yr/yr, beats analyst expectations

* Adjusted EPS for fiscal Q3 beats consensus

* Co increases share repurchase authorization by $25 mln

Outlook

* Photronics ( PLAB ) expects Q4 revenue between $201 mln and $209 mln

* Company forecasts Q4 non-GAAP EPS between $0.42 and $0.48

* Photronics ( PLAB ) focuses on operational efficiency and geographic diversification

Result Drivers

* IC REVENUE DECLINE - Integrated circuit revenue fell 5% year-over-year and sequentially, impacting overall revenue

* FPD REVENUE GROWTH - Flat panel display revenue increased 14% from the same quarter last year and sequentially, partially offsetting IC revenue decline

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $210.39 $204.60

Revenue mln mln (3

Analysts

)

Q3 Beat $0.51 $0.38 (3

Adjusted Analysts

EPS )

Q3 Net $29.14

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 Photronics Inc ( PLAB ) is $31.65, about 29.6% above its August 26 closing price of $22.27

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 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.)