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Ichor Q3 revenue rises 37%, slightly misses estimates

By Reuters News


Overview

  • Semiconductor equipment subsystems maker's Q3 revenue rose 37% yr/yr, slightly missing analyst expectations

  • Adjusted EPS for Q3 beat analyst expectations

  • Company cites gross margin expansion and operational improvements as drivers of profitability


Outlook

  • Ichor expects Q4 2026 revenue between $345 mln and $365 mln

  • Company sees Q4 2026 non-GAAP diluted EPS of $0.65 to $0.75

  • Ichor expects sequential growth in revenue, gross margin, and EPS in Q4 2026


Result Drivers

  • REVENUE RAMP - Co attributed revenue growth and earnings leverage to a steep ramp in demand during the current semiconductor cycle

  • OPERATING MODEL CHANGES - Co said realignment of manufacturing sites and increased proprietary content improved operations

  • ROBUST DEMAND - Co said customer demand remains strong with extended visibility


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Slight Miss*

$328.70 mln

$330 mln (6 Analysts)

Q3 Adjusted EPS

Beat

$0.63

$0.45 (6 Analysts)

Q3 EPS

$0.55

Q3 Net Income

$20.95 mln

Q3 Gross Margin

15.80%

Q3 Operating Margin

6.90%

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the semiconductors peer group is "buy"

  • Wall Street's median 12-month price target for Ichor Holdings, Ltd. is $88.00, about 126.2% above its October 30 closing price of $38.90

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 35 three months ago


Reuters Recommended Reads

  • Nov 2 - Israel's Tower Semi Q3 revenue growth of 33% tops estimates, sees faster Q4 growth

  • Nov 2 - Guerrilla RF Q3 revenue rises 61% on aerospace & defense demand

  • Nov 2 - Marvell doubles down on AI boom with costly $115 billion Lumentum deal


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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