Press release
Ichor Holdings, Ltd. Announces Third Quarter 2022 Financial Results
FREMONT, Calif.--(BUSINESS WIRE)-- Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery
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 third quarter 2022 financial results.\n\nThird quarter 2022 highlights:\n\n\nRecord revenues of $356 million, at the upper end of our guidance range and up 8% from Q2;\n\n\nGross margin of 17.9% on a GAAP basis and 18.0% on a non‑GAAP basis, up 100 bp from Q2; and\n\n\nEarnings per share of $1.00 on a GAAP basis, and a record $1.22 on a non‑GAAP basis.\n\n\n“Ichor’s record revenues for the third quarter were at the high end of our expectations due to both the continued elevated level of customer demand as well as strong operational execution by our team,” commented Jeff Andreson, chief executive officer. “We exceeded the high end of our earnings expectations primarily due to solid gross margin performance, which also drove record operating income in the quarter. Since last quarter, the business environment for wafer fabrication environment has weakened, most recently as a result of the recent export restrictions to China, as well as a pull-back in overall memory investments. Fortunately, over the last few years we have significantly reduced our exposure to the memory market, and, in this environment, we expect to demonstrate the resiliency of our business model and our ability to continue to outperform WFE. Ichor continues to play a crucial role in the global semiconductor manufacturing ecosystem, and we look forward to continuing our focus on developing proprietary new products and winning evaluation programs with both new and existing customers in the coming year.”\n\n\n\n \n\n\n\n \n\n\n\nQ3 2022\n\n\n\n \n\n\n\n \n\n\n\nQ2 2022\n\n\n\n \n\n\n\n \n\n\n\nQ3 2021\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n(dollars in thousands, except per share amounts)\n\n\n\n \n\n\n\n\n\nU.S. GAAP Financial Results:\n\n\n\n \n\n\n\n\n\nNet sales\n\n\n\n \n\n\n\n$\n\n\n\n355,643\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n329,560\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n262,855\n\n\n\n \n\n\n\n\n\nGross margin\n\n\n\n \n\n\n\n \n\n\n\n17.9\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n16.8\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n16.6\n\n\n\n%\n\n\n\n\n\nOperating margin\n\n\n\n \n\n\n\n \n\n\n\n9.2\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n7.5\n\n\n\n%\n\n\n\n...