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ASML Beats On Q2 Earnings, Issues Robust Q3, FY21 Outlook, Launches Share Repurchase Program

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ASML Beats On Q2 Earnings, Issues Robust Q3, FY21 Outlook, Launches Share Repurchase Program
  • ASML Holding NV (NASDAQ: ASMLreported second-quarter FY21 net sales growth of 20% year-on-year to €4.0 billion within the company's guidance and missing the analyst consensus by €120 million.
  • The net bookings were €8.3 billion, including €4.9 billion from EUV systems, bringing the total backlog to €17.5 billion.
  • The gross margin was 50.9% exceeded the company's guidance mainly due to higher revenue in software upgrades as customers want to increase capacity quickly and one-off revenue accounting releases.
  • It reported a net income of €1.04 billion.
  • The EPS of €2.52 beat the analyst consensus by €0.03.
  • It held €5.19 billion in cash and equivalents.
  • The demand continues to be high across all market segments, CEO Peter Wennink said. The product portfolio reflects the market's focus on increasing capacity to support the build-up of the digital infrastructure. The long-term demand caters to advanced nodes, legacy, and mature nodes in Logic and Memory.
  • Outlook: ASML sees Q3 2021 net sales between €5.2 billion - €5.4 billion and a gross margin between 51% - 52%.
  • It announced a new share buyback program of up to €9 billion through Dec. 31, 2023.
  • It sees a net sales growth of around 35% in 2021 Y/Y, with a gross margin between 51% - 52%.
  • Price action: ASML shares traded higher by 3.50% at $707.97 in the premarket session on the last check Wednesday.
 

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