Home ยป ASML Stock Plunges Over 15% Following Disappointing Earnings Report With Missing Half of Machine Bookings

ASML Stock Plunges Over 15% Following Disappointing Earnings Report With Missing Half of Machine Bookings

ASML has released its Q3 2024 financial report, showing a solid performance with sales reaching 7.5 billion euros and a net profit of 2.1 billion euros. However, the order backlog for the quarter only stands at 2.6 billion euros compared to the previous quarter’s 5.5 billion euros, leading to a revised revenue forecast for 2025 of 30-35 billion euros, down from the previous estimate of 35-40 billion euros.

Despite the recent decrease in order backlog, the company anticipates sales growth in the upcoming Q4, expected to be between 8.8-9.2 billion euros. However, there may be a slight reduction in cash flow due to lower down payments.

ASML mentions that a large number of customers have ordered the latest version of the EUV machine, the Low NA model NXE:3600E, which has been updated to increase production capacity to a maximum of 220 wafers per hour. Additionally, the High NA model is nearing completion, expected to contribute to revenue in the near future. The company is currently delivering the third machine to customers.

Following the report, ASML’s stock price dropped from 800 euros to 668 euros.

TLDR: ASML’s Q3 2024 report shows strong sales and profit, but a decrease in order backlog leads to a revised revenue forecast for 2025. Despite this, the company expects sales growth in the next quarter and is actively delivering new machines to customers.

More Reading

Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Annual Report: Sony’s Profit Decreases Due to Camera Sensor Business, but PS5 Sales Reach 4.9 Million Consoles

The latest month still unaccounted: Recounting the Dismal Quarter-End Report with a Dramatic Decrease

Quarterly Report on Impressive Growth Stemming from AI-Driven CPU Demand