Axcelis Q3 revenue and adjusted EPS beat estimates on demand

Overview

• US semiconductor equipment maker's Q3 revenue beat analyst expectations

• Adjusted EPS for Q3 beat analyst expectations

• Company cites improving demand and record CS&I revenue as key drivers

Outlook

• Axcelis expects Q4 2026 revenue of approximately $275 mln

• Company sees Q4 2026 GAAP diluted EPS of about $1.15 and non-GAAP EPS of $1.50

• Axcelis anticipates further growth in 2027 as customer investment recovers

Result Drivers

• SYSTEMS REVENUE GROWTH - Co said improving demand drove sequential growth in systems revenue

• STRONG BOOKINGS - Co said strong increase in bookings reflected a broadening recovery across end markets, with continued momentum in Memory and increasing activity in Power and General Mature

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the semiconductor equipment & testing peer group is "buy."

• Wall Street's median 12-month price target for Axcelis Technologies, Inc. is $144.57, about 56.9% above its November 4 closing price of $92.14

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 29 three months ago

Reuters Recommended Reads

• Nov 5 - ACM Research beats Q3 revenue estimates on packaging equipment demand, raises FY outlook

• Nov 4 - Veeco Instruments Q3 revenue, net income miss estimates

• Nov 2 - Advanced Energy Q3 revenue beats on record semiconductor and data center computing sales

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(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.)