Earnings To Watch: Photronics (PLAB) Reports Q1 Results Tomorrow

Adam Hejl /
2024/02/20 2:01 am EST

Semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) will be announcing earnings results tomorrow morning. Here's what investors should know.

Last quarter Photronics reported revenues of $227.5 million, up 8.2% year on year, beating analyst revenue expectations by 1.6%. It was a strong quarter for the company, with a significant improvement in its inventory levels and an impressive beat of analysts' EPS estimates.

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

This quarter analysts are expecting Photronics's revenue to grow 4.2% year on year to $220 million, slowing down from the 11.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.49 per share.

Photronics 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 only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.4%.

Looking at Photronics's peers in the semiconductor manufacturing segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. IPG Photonics's revenues decreased 10.4% year on year, beating analyst estimates by 4.3% and Entegris reported revenue decline of 14.1% year on year, exceeding estimates by 4%. IPG Photonics traded down 4.3% on the results, and Entegris was up 2.3%.

Read our full analysis of IPG Photonics's results here and Entegris's results here.

Investors in the semiconductor manufacturing segment have had steady hands going into the earnings, with the stocks flat over the last month. Photronics is up 4.3% during the same time, and is heading into the earnings with analyst price target of $32, compared to share price of $33.5.

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