Ichor Holdings, Ltd. Announces Second Quarter 2024 Financial Results

About this update from Ichor Holdings

[{"type":"text","content":" 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 second quarter 2024 financial results.\n\n\nSecond quarter 2024 highlights:\n\n\n\nRevenues of $203 million, near the upper end of our guidance range communicated in May;\n\n\n\nGross margin of 12.6% on a GAAP basis and 13.0% on a non‑GAAP basis;\n\n\n\nEarnings per share of $(0.15) on a GAAP basis and $0.05 on a non-GAAP basis; and\n\n\n\nFree cash flow of $15 million.\n\n\n\n“We are encouraged by signs of a recovery in the customer demand profile for wafer fab processing equipment as we progress through 2024,” commented Jeff Andreson, chief executive officer. “With Q2 revenues near the upper end of our expectations, we are also pleased to report continued improvement in gross margin performance over the last two quarters on similar revenue volumes. With industry demand momentum continuing to build, we expect to continue delivering on gross margin expansion and improvements in profitability and cash flow in the forthcoming quarters. Instrumental to our ability to achieve our financial performance targets are the new proprietary product introductions and customer qualifications now underway, which continue to yield positive traction and momentum. Our expectations for a stronger second half of 2024 are primarily driven by initial ramps in technology and capacity investments for leading edge semiconductor devices.”\n\n\n\n\n \n\n\n\n\n\n\nQ2 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2023\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n(dollars in thousands, except per share amounts)\n\n\n\n\n\n\n\n\nU.S. GAAP Financial Results:\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n$\n\n\n\n\n\n\n203,227\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n201,383\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n185,008\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n12.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n11.4\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n13.9\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nOperating margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n(1.1\n\n\n\n\n\n\n...

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