Axcelis Technologies (NASDAQ:ACLS) Announces Quarterly Earnings Results

Key Points

• Axcelis reported quarterly EPS of $1.26 and revenue of $237.8 million, beating analyst estimates; revenue increased 11.3% year over year.
• Bookings climbed to $222 million, the highest since Q4 2023, and backlog reached $531 million as demand broadened across power, memory and mature markets.
• The company forecast Q4 revenue of about $275 million and EPS of $1.50. Gross margin was 41.2%, below its 43% outlook, largely due to the stronger Korean won.

Axcelis Technologies (NASDAQ:ACLS - Get Free Report) announced its quarterly earnings data on Thursday. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.15, FiscalAI reports. Axcelis Technologies had a return on equity of 11.69% and a net margin of 10.71%. The business had revenue of $237.78 million during the quarter, compared to analyst estimates of $230.08 million. During the same period in the prior year, the company earned $1.21 earnings per share. Axcelis Technologies's revenue was up 11.3% compared to the same quarter last year. Axcelis Technologies updated its Q4 2026 guidance to 1.500-1.500 EPS.

Here are the key takeaways from Axcelis Technologies' conference call:

• Axcelis reported Q3 revenue of $238 million and diluted EPS of $1.26, both ahead of its expectations. CS&I revenue reached a quarterly record of $93 million.
• Gross margin was 41.2%, below the 43% outlook, mainly because the stronger Korean won increased costs; foreign-exchange gains in other income partly offset the impact.
• Bookings rose to $222 million, the highest since Q4 2023, with a 1.5 book-to-bill ratio and backlog reaching $531 million. Management described demand as broadening across power, memory and general mature markets, and expects all three to grow in 2027.
• For Q4, Axcelis forecast revenue of about $275 million and EPS of about $1.50, with growth primarily from power and general mature. It expects Q1 2027 revenue to be relatively consistent with Q4 despite seasonal CS&I softness.
• The pending Veeco merger is now expected to close by the end of Q1 2027, subject to regulatory clearance in China and a new HSR submission.

Axcelis Technologies Stock Down 2.3%

ACLS traded down $2.14 on Thursday, hitting $90.00. The company had a trading volume of 1,036,251 shares, compared to its average volume of 595,521. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.90 and a quick ratio of 3.21. Axcelis Technologies has a 52-week low of $73.60 and a 52-week high of $193.78. The stock has a fifty day simple moving average of $116.69 and a 200-day simple moving average of $122.67. The firm has a market capitalization of $2.78 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.97 and a beta of 1.88.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings upgraded Axcelis Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 16th. Craig Hallum cut Axcelis Technologies from a "buy" rating to a "hold" rating and set a $140.00 price objective on the stock. in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Axcelis Technologies presently has an average rating of "Hold" and an average target price of $148.67.

About Axcelis Technologies

Axcelis Technologies, Inc develops and manufactures equipment used in the fabrication of semiconductor devices. The company is best known for its ion implantation systems, which precisely introduce dopant atoms into silicon wafers to control the electrical properties of semiconductor components.

Its product portfolio includes the Purion family of ion implantation systems, designed for applications such as high-current, medium-current and high-energy implantation. Axcelis also provides related aftermarket products and services, including spare parts, equipment upgrades, process support and customer training.

Headquartered in Beverly, Massachusetts, Axcelis serves semiconductor manufacturers and other customers in major chip-production regions worldwide.

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