Utilized Supplies, Inc. AMAT is about to report its first-quarter earnings after Thursday’s closing bell. This is a take a look at what to count on within the report.
What To Watch: The corporate’s Semiconductor Methods section will probably be on watch as AI-driven demand might replicate in its revenues.
Wall Avenue may also be watching Utilized Supplies’ China revenues which fell to 30% within the final quarter, down from 32% within the earlier quarter and 40% earlier than that.
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Needham analyst Charles Shi famous that the corporate’s first-quarter China revenues got here in roughly flat at round $2.14 billion, “however nonetheless a significant step down” from the common run price of $2.9 billion per quarter between the fourth quarter of 2023 to the second quarter of 2024, he added.
“Over the long term, administration sees that WFE (wafer fabrication tools) depth, propped up by the sturdy China demand of 18% in 2023, might decline and normalize to round 15%,” Shi additional wrote.
Buyers will search for progress in non-GAAP gross margins which Utilized Supplies guided to 48.4% for the primary quarter, up from 47.5% within the earlier quarter.
Stifel analyst Brian Chin maintained a Purchase ranking on Utilized Supplies shares however lowered the worth goal from $250 to $235 on Tuesday heading into the first-quarter print.
In keeping with estimates from Benzinga Professional, analysts count on the corporate to report quarterly earnings of $2.29 per share on income of $7.14 billion. It ought to be famous that Utilized Supplies has beat consensus estimates on the highest and backside traces in every of the final ten consecutive quarters.
AMAT Worth Motion: In keeping with information from Benzinga Professional, Utilized Supplies shares ended Wednesday’s session down 1.26% at $180.89.
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