Press release
Ichor Announces Preliminary Q4 Financial Results and Q1 Outlook
As Well as Timing of Q4 Earnings Call FREMONT, Calif.--(BUSINESS WIRE)-- Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and
About this update from Ichor Holdings
[{"type":"text","content":"\nAs Well as Timing of Q4 Earnings Call\n\n\n FREMONT, Calif.--(BUSINESS WIRE)--\nIchor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment, today announced preliminary financial results for the fourth quarter of 2024 in conjunction with a preliminary outlook for the first quarter of 2025.\n\n\n“As we progressed through the fourth quarter, customer demand continued to strengthen, with Q4 revenues anticipated to come in near the high end of guidance and Q1 revenues expected to exceed prior expectations,” commented Jeff Andreson, Ichor’s CEO. “As a result, we began to ramp headcount and other resources toward the end of the quarter, which while positive for 2025 presented a cost headwind for Q4’s results. As we strengthened our organization’s ability to address incrementally higher customer demand levels, we now expect Q4 gross margin will be impacted by the higher level of direct manufacturing labor costs that we were not able to fully absorb within the quarter. Q4 gross margin was also impacted by higher-than-anticipated inventory charges associated with our year-end physical inventory procedures as well as unfavorable product mix, with the majority of the current revenue upside taking place in our build-to-print gas panel integration business. While it is too early to have a view on EPS, at this time we know that in conjunction with a stronger revenue outlook for Q1 we expect our Q4 gross margin and EPS to be below the low end of our prior guidance ranges. Finally, given that the increased customer demand levels are expected to continue through the year, we also expect 2025 revenues to exceed current expectations.”\n\n\nBased upon a preliminary review, for the fourth quarter of 2024 Ichor expects to report:\n\n\n\nRevenue of approximately $233 million, at the high end of the guidance range and up over 10% sequentially compared to Q3 of 2024.\n\n\n\nGross margin of 11% to 12% on a GAAP basis and approximately 12% on a non-GAAP basis.\n\n\n\nEarnings per share below the prior guidance ranges.\n\n\n\nFor the first quarter of 2025, with the company’s current visibility the preliminary Q1 outlook reflects:\n\n\n\nRevenue in the range of $235 to $250 million.\n\n\n\nGross margin returning to a range of 13% to 15%...