Applied Materials (AMAT) To Report Earnings Tomorrow: Here Is What To Expect

Jabin Bastian /
2022/11/16 4:26 am EST

Maker of machinery employed in semiconductor manufacturing, Applied Materials (NASDAQ:AMAT) will be reporting earnings tomorrow after market close. Here's what investors should know.

Last quarter Applied Materials reported revenues of $6.52 billion, up 5.22% year on year, beating analyst revenue expectations by 4.02%. It was a mixed quarter for the company, with a beat on the bottom line but slow revenue growth.

Is Applied Materials buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Applied Materials's revenue to grow 5.12% year on year to $6.43 billion, slowing down from the 30.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.75 per share.

Applied Materials Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Applied Materials's peers in the semiconductors segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Lam Research delivered top-line growth of 17.8% year on year, beating analyst estimates by 3.36% and Vishay Intertechnology reported revenues up 13.6% year on year, missing analyst estimates by 0.03%. Lam Research traded up 2.37% on the results, Vishay Intertechnology was down1.73%. Read our full analysis of Lam Research's results here and Vishay Intertechnology's results here.

There has been positive sentiment among investors in the semiconductors segment, with the stocks up on average 26.3% over the last month. Applied Materials is up 45.4% during the same time, and is heading into the earnings with analyst price target of $107.7, compared to share price of $110.46.

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The author has no position in any of the stocks mentioned.