Photronics, Inc. · NASDAQ:PLAB
Photronics — Q1 2024 Earnings Presentation
12 slides from Photronics's earnings presentation, Feb 21, 2024
Slide 1: Q1 2024 Financial Results Conference Call
February 21, 2024 Q1 2024 Financial Results Conference Call
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and some of our comments during this presentation may contain projections or other forward-looking statements regarding future events, our future financial performance, and/or the future performance of the industry. These statements are predictions and contain
Slide 3: Q1 2024 Summary
Q1 2024 Summary Year-over-year Growth in Earnings and Cash Flow as we Effectively Manage Costs and Working Capital 1Net income attributable to Photronics, Inc. shareholders. 2Adjusted EPS is a non-GAAP measure; see reconciliation included in this presentation. $216.3M Revenue 26.6% Operating Margin
Slide 4: Income Statement Summary
Income Statement Summary GAAP Non-GAAP1 $M (except EPS) Q124 Q/Q Y/Y Q124 Q/Q Y/Y Revenue 216.3 (5%) 2% Gross Profit 79.3 (7%) 4% Gross Margin 36.6% (70) bps 60 bps Operating Income 57.5 (11%) 3% Operating Margin 26.6% (190) bps 10 bps Non-operating (loss) income (3.7) (22.4) 10.7 5.2 (0.3) 2.6 Inco
Slide 5: Revenue by Product Line
Revenue by Product Line $M Q124 Q/Q Y/Y High-End* 60.9 6% 27% Mainstream 96.7 (9%) (11%) Total 157.6 (4%) 1% High-end increased on strong demand from Asia foundries; Y/Y also saw contribution from US Mainstream softness primarily in Asia Growth drivers: New designs by customers to gain market share
Slide 6: Balance Sheet and Cash Flow Metrics
Balance Sheet and Cash Flow Metrics *Net cash is a non-GAAP term; see reconciliation included in this presentation. Balance Sheet Provides Resilience, Enables Growth Strategy and Shareholder Value Creation $M Q124 Y/Y Q/Q Cash 508.5 52% 2% Short-term Investments 13.0 (67%) 1% Debt 23.4 (31%) (5%) Ne
Slide 7: Q2 2024 Guidance
Q2 2024 Guidance Revenue ($M) 226 – 236 Operating Margin 27% - 29% Taxes ($M) 17 – 19 Diluted non-GAAP EPS $0.50 - $0.58 Diluted Shares (M) ~62 Full-year Capex ($M) ~140 Incorporation of chips in IoT, 5G, Crypto and consumer products New designs to capture market share Advanced display technologies
Slide 8: Appendix
Appendix | - \
Slide 9: Revenue by Product Group ($M)
Revenue by Product Group ($M) Total may differ due to rounding. IC FPD Mainstream High-End Mainstream High-End Total Revenue IC Revenue FPD Revenue High-End: 28nm and smaller High-End: ≥G10.5, AMOLED and LTPS
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Net Income attributable to Photronics, Inc. shareholders and non-GAAP earnings per share, Free Cash Flow, and Net Cash are "non-GAAP financial measures" as such term is defined by the Securities and Exchange Commission and may differ from similarly named non-GAAP
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures