United Microelectronics Clocks 25% Sales Decline In August - United Microelectronics (NYSE:UMC)

United Microelectronics Corp (NYSE:UMC) reported net sales for August 2023 decline of 25.23% Y/Y to NT$18.95 billion.

Sales for the YTD period that ended August fell by 20.0% Y/Y to NT$148.5 billion.

In July, UMC reported Q2 FY23 revenue decline of 21.9% Y/Y to NT$56.30 billion. In USD, revenue of $1.81 billion beat the consensus of $1.78 billion.

In USD, adjusted EPS of $0.204 exceeded the consensus of $0.15.

Revenue from 22 and 28nm grew to 29% of the wafer revenue, while 40nm contributed 12% of sales in the quarter.

The gross margin contracted to 36.0% from 46.5% a year ago.

In its earnings report, UMC forecasted a 3%-4% Q/Q decline in Q3 wafer shipments and a low-single-digit reduction in gross profit margin. UMC sees an FY23 capital expenditure of $3.0 billion.

Price Action: UMC shares closed higher by 1.66% at $7.36 on Friday.

UMCUnited Microelectronics Corp

$9.883.02%

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