In its upcoming report, KLA (KLAC) is predicted by Wall Street analysts to post quarterly earnings of $5.87 per share, reflecting a decline of 20.5% compared to the same period last year. Revenues are forecasted to be $2.46 billion, representing a year-over-year decrease of 17.7%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a ...

The latest trading session saw KLA (KLAC) ending at $556.34, denoting a -1.07% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.15%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq increased by 0.09%.Heading into today, shares of the maker of equipment for manufacturing semiconductors had gained 0.56% over the past month, lagging the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 3.5% in that time.The inve ...

KLA (KLAC) closed the latest trading day at $552.59, indicating a -1.39% change from the previous session's end. This change lagged the S&P 500's 0.8% loss on the day. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.18%.Heading into today, shares of the maker of equipment for manufacturing semiconductors had gained 4.31% over the past month, outpacing the Computer and Technology sector's gain of 2.11% and the S&P 500's gain of 3.4% in that time.Market participants will be closely f ...

KLA Corporation (NASDAQ:KLAC) Wells Fargo 7th Annual TMT Summit Conference November 29, 2023 12:30 PM ET Company Participants Bren Higgins - CFO Brian Lorig - EVP, Global Support and Services Conference Call Participants Joe Quatrochi - Wells Fargo Joe Quatrochi Perfect. All right, let's go ahead and get started. So I'm Joe Quatrochi, the semicap analyst here for Wells Fargo. Excited to have KLA here this morning, CFO, Bren Higgins; as well as Brian Lorig, the EVP of Global Support and Services to discuss K ...

KLA Corporation (NASDAQ:KLAC) UBS Global Technology Conference November 28, 2023 12:15 PM ET Company Participants Bren Higgins - Chief Financial Officer Conference Call Participants Timothy Arcuri - UBS Timothy Arcuri Great. We're going to get started. I'm, Tim Arcuri. I'm the semiconductor analyst here at UBS, and very pleased to have, KLA with us next with, and Bren Higgins, who is the CFO. I've known Bren for a long time. So very, very pleased to have you, Bren. Thank you. Bren Higgins Yes. Thank you for ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-09992 KLA CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-2564110 (State or ...

Financial Data and Key Metrics - Revenue for the September quarter was $2.4 billion, at the upper end of the guidance range [24] - GAAP EPS was $5.41 and non-GAAP EPS was $5.74, both at the upper end of the guidance ranges [24] - Non-GAAP operating margin was 40.2% [32] - Cash flow from operations was $884 million, and free cash flow was $816 million [32] - The company ended the quarter with $3.35 billion in total cash, cash equivalents, and marketable securities [33] - The service business grew to $560 million in the September quarter, with high single-digit percent year-over-year growth expected for 2023 [29] Business Line Data and Key Metrics - The service business grew both sequentially and year-over-year, reaching $560 million in the September quarter [29] - The company's process control portfolio showed strength, particularly in legacy node investment globally and industry infrastructure investment [27] - The rapid growth of AI is enabling differentiation and driving industry growth, with the company leveraging AI to improve system performance [28] Market Data and Key Metrics - The company sees strength in markets served by legacy nodes, despite softness in memory and leading-edge logic and foundry investments [25] - China's market mix is approaching 50%, with new entrants and improving yields potentially driving higher investment in process control [6][7] - The company expects China's wafer infrastructure investment to flatten in 2024, but does not anticipate a significant decline [12] Company Strategy and Industry Competition - The company is focused on enabling innovation through technology advancements and transitions, which customers continue to prioritize across all business environments [44] - The company is leveraging AI expertise to improve inspection, metrology, and data analytics systems, helping customers solve challenges associated with current process technologies [35] - The company is well-positioned to support customers in the transition to gate-all-around architecture, with investments in Gen 4 technology and AI capabilities [93][94] Management Commentary on Operating Environment and Future Outlook - The overall business environment remains relatively stable, with strength in legacy node investment and industry infrastructure investment [25] - The company expects demand to stabilize around current levels into the first half of 2024, with no significant changes anticipated in China shipments [57] - The company is monitoring the slowdown in the electronics market and adjusting capacity plans as needed [26] Other Important Information - The company announced an incremental $2 billion share repurchase authorization, reflecting confidence in the business model and growth strategy [34] - The company increased its quarterly dividend to $1.45 per share, marking the 14th consecutive annual dividend increase [41] - The company is focused on employee safety and well-being, particularly in light of the situation in Israel, and is providing resources and support through the KLA Foundation [22][23] Q&A Session Summary Question: Stability in the first half of 2024 and memory recovery timing [56] - The company expects business levels to remain stable in the first half of 2024, with no significant changes in China shipments [57] - Memory customers indicate historical lows in the market, with no near-term changes expected in capacity increases [60] Question: Service business growth and assumptions for 2024 [62] - The company expects service growth to accelerate to the target range of 12% to 14% in 2024, driven by tools coming off warranty and moving into contracts [63] - Utilization rates are stabilizing and increasing in certain parts of the business, which is a positive indicator for service growth in 2024 [68] Question: China business sustainability and outlook [79] - The company sees sustainability in China's legacy node investments, particularly in industries like EV and infrastructure, with no significant changes expected in the near term [80][81] - The company expects China's business to remain elevated, with a meaningful backlog and deposits for future shipments [83] Question: Gate-all-around architecture opportunities [93] - The company is well-prepared for gate-all-around architecture, leveraging Gen 4 technology and AI capabilities to address inspection and metrology challenges [94][95] - The transition to gate-all-around will drive higher process control intensity, benefiting both inspection and metrology [96] Question: DRAM strength and outlook [98] - DRAM strength in the quarter was driven by shipments to China and R&D investment, with no significant decline expected in the December quarter [99] - The company continues to see strength in optical and macro inspection, with process control intensity remaining high [100] Question: 2024 WFE outlook and inventory management [123] - The company expects WFE investment to remain flat in 2024, with no significant changes anticipated in the near term [110] - Inventory levels are high due to long lead-time parts and commitments to suppliers, but the company is well-positioned for future demand [127][128] Question: OpEx outlook for 2024 [134] - The company expects a modest uptick in OpEx in 2024, in line with general post-living adjustments and long-term investment requirements [136][137] Question: Leading-edge foundry/logic weakness and outlook [139] - The company sees stabilization in leading-edge foundry/logic, with no further declines expected in 2024 [149] - The company expects to see more N3 and N2 activity in 2024, with investment focused on R&D and ramp phases [143]

Financial Performance - Total revenues for the year ended June 30, 2023, reached $10.50 billion, up 13.9% from $9.21 billion in 2022[335] - Net income attributable to the company for the year ended June 30, 2023, was $3.39 billion, compared to $3.32 billion in 2022, representing a growth of 2.1%[335] - Basic net income per share attributable to KLA for 2023 was $24.28, up from $22.07 in 2022, reflecting an increase of 10%[514] - Diluted net income per share attributable to KLA for 2023 was $24.15, compared to $21.92 in 2022, marking an increase of 10.6%[514] - Net income for the year ended June 30, 2023, was $3,387,351, an increase of 1.96% compared to $3,322,060 in 2022[338] - Total comprehensive income attributable to KLA for the year ended June 30, 2023, was $3,378,407, slightly up from $3,369,893 in 2022[338] Assets and Liabilities - As of June 30, 2023, the total assets of the company were $14.07 billion, an increase from $12.60 billion in 2022, reflecting a growth of approximately 11.7%[333] - The total liabilities increased to $2,303.5 million in 2023 from $1,545.0 million in 2022, representing an increase of approximately 48.9%[439] - The company’s total debt as of June 30, 2023, was $5,890.7 million, down from $6,660.7 million as of June 30, 2022[469] - The fair value of the company's long-term fixed interest rate Senior Notes was $5.69 billion as of June 30, 2023[325] - The company had $172.4 million in total lease liabilities as of June 30, 2023, after accounting for imputed interest[484] Cash Flow and Investments - Net cash provided by operating activities increased to $3,669,805 in 2023, up from $3,312,702 in 2022, representing a growth of 11%[344] - Cash and cash equivalents at the end of the period rose to $1,927,865, compared to $1,584,908 at the end of 2022, marking an increase of 22%[344] - The company had an investment portfolio of fixed income securities valued at $1.23 billion as of June 30, 2023[324] - Net cash used in investing activities decreased to $482,571 in 2023 from $876,458 in 2022, indicating a reduction of 45%[344] Research and Development - The company reported a research and development expense of $1.30 billion for the year ended June 30, 2023, which is an increase of 17.3% from $1.11 billion in 2022[335] Stockholder Activities - Cash dividends declared were $733,547, with a per share dividend of $5.20[341] - The company repurchased common stock worth $1,329,714 during the year[341] - The total cost of stock repurchases in 2023 was approximately $1.33 billion, a decrease from $3.96 billion in 2022[512] - Payment of dividends to stockholders increased to $732,556 in 2023 from $638,528 in 2022, representing a rise of 15%[344] Inventory and Receivables - Total inventories increased to $2,876.8 million in 2023, up from $2,146.9 million in 2022, representing a significant increase of approximately 34%[439] - As of June 30, 2023, accounts receivable decreased by 3% to $1,753.4 million from $1,811.9 million in the previous year[419] Contractual Obligations - Remaining performance obligations (RPO) amounted to $11.40 billion, with an expectation to recognize approximately 40% to 50% as revenue beyond the next 12 months[422] - Contract liabilities rose by 24% to $1,245.0 million from $1,007.3 million in the prior year[419] - Revenue recognized from contract liabilities was $819.0 million for the fiscal year ended June 30, 2023[421] Goodwill and Intangible Assets - As of June 30, 2023, the company reported total goodwill of $2,278.8 million, a decrease from $2,320.0 million as of June 30, 2022[460] - The company’s total purchased intangible assets as of June 30, 2023, amounted to $2,159.1 million, with $935.3 million net after accumulated amortization[465] Pension and Employee Benefits - The projected benefit obligation for foreign defined benefit pension plans decreased from $124,585 thousand in 2022 to $113,136 thousand in 2023, a reduction of 9.2%[518] - The underfunded status of the pension plans decreased from $80,992 thousand in 2022 to $67,206 thousand in 2023, a decline of 17.2%[519] - The employer contributions to the pension plans increased from $6,955 thousand in 2022 to $8,396 thousand in 2023, reflecting a growth of 20.7%[518] Market Conditions and Risks - The company experienced a macro-driven slowdown impacting semiconductor device demand, leading to adjustments in customer capital expenditure plans for 2023[422] - The U.S. government imposed new export licensing requirements affecting the company's ability to provide certain products and services to customers in China[422] Environmental and Sustainability - The company’s performance against environmental sustainability key performance indicators resulted in reduced fees associated with the Revolving Credit Facility[478]

Statements in this presentation other than historical facts, such as statements pertaining to: (i) future industry demand for semiconductors and WFE; (ii) future development of regulatory landscape; (iii) our market position for the future; (iv) our forecast of financial measures for the following quarter and 2023; (v) our long-term financial targets and underlying assumptions; (vi) our future investment plan on R&D, technology and infrastructure; and (vii) future shareholder returns, are forward-looking st ...

KLA Corporation (NASDAQ:KLAC) Q4 2023 Earnings Conference Call July 27, 2023 6:00 PM ET Company Participants Kevin Kessel - Vice President, Investor Relations & Market Analytics Rick Wallace - Chief Executive Officer Bren Higgins - Chief Financial Officer Conference Call Participants Joe Quatrochi - Wells Fargo Brian Chin - Stifel Tim Arcuri - UBS Harlan Sur - JPMorgan Atif Malik - Citi Sidney Ho - Deutsche Bank Operator Good afternoon. My name is Chelsea, and I will be your conference operator today. At th ...