KLA Corporation (NASDAQ:KLAC) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Kevin Kessel - VP, IR and Market Analytics Richard Wallace - CEO Bren Higgins - CFO Conference Call Participants Vivek Arya - Bank of America Harlan Sur - JPMorgan Joe Quatrochi - Wells Fargo C.J. Muse - Cantor Fitzgerald Tom O'Malley - Barclays Srini Pajjuri - Raymond James Krish Sankar - TD Cowen Joseph Moore - Morgan Stanley Charles Shi - Needham Atif Malik - Citi Timothy Arcuri - UBS Toshiya H ...

For the quarter ended September 2024, KLA (KLAC) reported revenue of $2.84 billion, up 18.6% over the same period last year. EPS came in at $7.33, compared to $5.74 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $2.76 billion, representing a surprise of +3.11%. The company delivered an EPS surprise of +4.27%, with the consensus EPS estimate being $7.03. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

KLA (KLAC) came out with quarterly earnings of $7.33 per share, beating the Zacks Consensus Estimate of $7.03 per share. This compares to earnings of $5.74 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 4.27%. A quarter ago, it was expected that this maker of equipment for manufacturing semiconductors would post earnings of $6.08 per share when it actually produced earnings of $6.60, delivering a surprise of 8.55%. Over the l ...

KLA Non-Confidential | Unrestricted 1 Q1 Fiscal 2025 Earnings Quarter Ended September 30, 2024 • Reported October 30, 2024 Forward Looking Statements Statements in this letter other than historical facts, such as statements pertaining to: (i) future industry demand for semiconductors and WFE; (ii) our market position for the future and future growth in demand for our products; (iii) our forecast of financial measures for the following quarter and 2024; (iv) our future revenues by customer segment for our Se ...

Revenue and Growth - Total revenues for Q1 FY 2025 were $2.84 billion, above the midpoint of the guidance range of $2.75 billion +/- $150 million[1] - Q1 FY 2025 total revenues increased to $2.84 billion from $2.40 billion in Q1 FY 2024, representing an 18.5% year-over-year growth[4] - Q2 FY 2025 guidance expects total revenues to be in the range of $2.95 billion +/- $150 million[5] - Total revenues for Q3 2024 reached $2.84 billion, up 18.5% from $2.40 billion in Q3 2023[15] - Semiconductor Process Control revenue for Q3 2024 was $2.58 billion, up 20.6% from $2.14 billion in Q3 2023[15] Earnings and Profitability - GAAP diluted EPS was $7.01 and non-GAAP diluted EPS was $7.33, both near the upper end of the respective guidance ranges[1] - GAAP net income for Q1 FY 2025 was $945.9 million, with GAAP net income per diluted share of $7.01[2] - Net income for Q1 FY 2025 was $945.9 million, compared to $741.4 million in Q1 FY 2024, representing a 27.6% year-over-year increase[11] - Net income for Q3 2024 increased to $945.85 million, up 27.6% from $741.38 million in Q3 2023[13] - Non-GAAP net income for Q3 2024 was $988.15 million, up 25.7% from $786.48 million in Q3 2023[16] - Non-GAAP net income per diluted share for Q3 2024 was $7.33, up 27.7% from $5.74 in Q3 2023[16] - GAAP diluted EPS for Q2 FY 2025 is expected to be in the range of $7.45 +/- $0.60, and non-GAAP diluted EPS is expected to be $7.75 +/- $0.60[5] Cash Flow and Liquidity - Cash flow from operating activities for the quarter was $995.2 million, and free cash flow was $934.8 million[1] - Free cash flow for Q3 2024 was $934.85 million, up 14.6% from $815.70 million in Q3 2023[18] - Net cash provided by operating activities for Q3 2024 was $995.24 million, up 12.6% from $883.74 million in Q3 2023[13] - Cash and cash equivalents as of September 30, 2024, were $1.98 billion, with total current assets of $10.23 billion[10] Capital Returns and Stock Repurchases - Capital returns for Q3 2024 totaled $765.46 million, up 20.2% from $636.92 million in Q3 2023[19] - Common stock repurchases for Q3 2024 totaled $567.38 million, up 24.6% from $455.41 million in Q3 2023[13] Gross Margin and Profitability Projections - GAAP gross margin for Q2 FY 2025 is expected to be in the range of 60.0% +/- 1.0%, while non-GAAP gross margin is expected to be 61.5% +/- 1.0%[5] - GAAP gross margin for Q3 2024 is projected to be between 59.0% and 61.0%, with non-GAAP gross margin expected to be between 60.5% and 62.5%[21] Non-GAAP Financial Metrics and Adjustments - Non-GAAP financial metrics are used to enhance understanding of operating performance and future prospects, including non-GAAP net income, non-GAAP net income per diluted share, non-GAAP gross margin, and free cash flow[22] - Acquisition-related charges in non-GAAP adjustments include amortization of intangible assets, transaction costs, and intangible asset impairment charges[23] - Restructuring, severance, and other charges in non-GAAP adjustments include employee severance costs and writedowns of certain right of use assets and fixed assets[23] - Income tax effect of non-GAAP adjustments includes the tax effects of excluded items[23] - Discrete tax items in non-GAAP adjustments include tax impacts from changes in international structure and amortization of tax items[23]

Total revenues were $2.84 billion, above the midpoint of the guidance range of $2.75 billion +/- $150 million; GAAP diluted EPS was $7.01 and non-GAAP diluted EPS was $7.33, both of which were near the upper end of the respective guidance ranges; Cash flow from operating activities for the quarter and last twelve months were $995.2 million and $3.42 billion, respectively, and free cash flow was $934.8 million and $3.15 billion, respectively; and Capital returns for the quarter and last twelve months were $7 ...

KLA Corporation (KLAC) is scheduled to report its first-quarter fiscal 2025 results on Oct. 30.For the first quarter of fiscal 2025, KLAC expects revenues to be $2.75 billion, +/-$150 million. The Zacks Consensus Estimate for revenues is pegged at $2.76 billion, indicating an increase of 14.98% from the year-ago quarter’s reported figure.KLA expects non-GAAP earnings of $7 per share, +/-60 cents. The consensus mark for earnings is pegged at $7.03 per share, unchanged in the past 30 days.KLAC’s earnings surp ...

Wall Street analysts forecast that KLA (KLAC) will report quarterly earnings of $7.03 per share in its upcoming release, pointing to a year-over-year increase of 22.5%. It is anticipated that revenues will amount to $2.76 billion, exhibiting an increase of 15% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Bef ...

Wall Street expects a year-over-year increase in earnings on higher revenues when KLA (KLAC) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 30. On th ...

The company is in the middle of a political storm concerning sales of high-performance chips and equipment across the Pacific Ocean. News of a top-level effort to curb the activities of certain makers of high-tech components was putting the hurt on KLA (KLAC -1.81%) stock recently. Spooked by the apparent determination to limit such businesses' interaction with a top Asian peer, investors eagerly traded out of KLA. As a result, according to data compiled by S&P Global Market Intelligence, the company's shar ...