Veeco Instruments Lifts Q4 Revenue Outlook
Veeco Instruments Inc. has revised its fourth-quarter revenue outlook to between $175 million and $185 million, up from a previous estimate of $165 million to $185 million. However, the company lowered its EPS forecast to a range of $0.09 to $0.28, down from $0.18 to $0.27. Adjusted EPS is now expected to be between $0.36 and $0.44. For the full year, EPS is projected between $1.07 and $1.26, with a consensus estimate of $1.72. The guidance reflects challenges in market penetration for its Silicon Carbide Epitaxy technology.
Veeco Instruments Inc. (VECO), a manufacturer of semiconductor process equipment, Tuesday provided updated outlook for the fourth quarter.
Veeco now expects fourth-quarter revenue to be in the range of $175 million - $185 million, up from the previous outlook of $165 million - $185 million.
The company currently sees EPS for the fourth quarter to be in the range of $0.09 - $0.28, lower than the previous outlook of $0.18 - $0.27. Adjusted EPS outlook has been revised to $0.36 - $0.44 from $0.35 - $0.45.
On average, 6 analysts expect the company to report earnings of $0.40 per share on revenue of $176.08 million. Analysts' estimates typically exclude special items.
For the full year, EPS is expected in the range of $1.07 to $1.26, while adjusted EPS is expected between $1.69 and $1.76. The consensus estimate stands at $1.72.
Veeco said that the updated guidance reflects the company's market penetration not meeting expectations with regard to its Silicon Carbide Epitaxy technology acquired in 2023.
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