ASML Tops Q2 Backed By DUV Revenue, Declares Interim Dividend

ASML Holding NV ASML reported a second-quarter FY23 net sales growth of 27% year-on-year to €6.90 billion ($7.52 billion) above the consensus of $7.51 billion.

The Q2 net bookings were €4.50 billion versus €8.46 billion a year ago. The gross margin increased by 220 bps Y/Y to 51.3%.

GAAP EPS was €4.93 ($5.37) above the consensus of $5.17.

ASML held €6.34 billion in cash and equivalents.

Buybacks & Dividends: An interim dividend of €1.45 per ordinary share will be payable on August 10.

In Q2, ASML purchased around €500 million worth of shares under the 2022-2025 share buyback program.

"Due to strong DUV revenue and despite the increased uncertainties, ASML expects strong growth for 2023 with a net sales increase towards 30% and a slight improvement in gross margin, relative to 2022," said ASML CEO Peter Wennink.

Outlook: ASML expects Q3 net sales of €6.5 billion - €7.0 billion vs. consensus $7.41 billion and a ~50% gross margin.

ASML raised 2023 net sales growth from over 25% Y/Y to 30% Y/Y vs. consensus $29.49 billion.

Price Action: ASML shares traded lower by 1.06% at $749.00 premarket on the last check Wednesday.