NASDAQ$ACLS

Axcelis Technologies Inc. · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Axcelis delivered strong third quarter financial performance driven by record implant systems revenue and solid gross margins.

Axcelis announced very strong third quarter financial performance, driven by record implant systems revenue and solid gross margins. The company is capitalizing on the strength of the mature and specialty markets with Purion product extensions.

  • Axcelis delivered very strong third quarter financial performance.
  • Record implant systems revenue was achieved.
  • Solid gross margins were reported.
  • The company is well positioned for long-term, sustainable growth.

Headline financials

Total Revenue

$177M

Previous: $110M+60.0%
EPS (adj)

$0.81

Previous: $0.32+153.1%
Capital Expenditures

-$5.7M

Previous: -$5.57M-2.4%
Free Cash Flow

$57.2M

Previous: $29.7M+92.3%
Net Income

$62.9M

Previous: $35.3M+78.1%
Operating Income

$36.4M

Previous: $13.9M+162.2%
Gross Profit

$76.5M

Previous: $48.2M+58.9%
Cash & Equivalents

$271M

Previous: $212M+27.9%
Total Assets

$711M

Previous: $591M+20.4%
Stock-Based Comp

$3.19M

Previous: $2.92M+9.1%

Revenue & EPS history

Axcelis · Revenue · Quarterly

$177M

Q3 2021+60%vs Q3 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Forward guidance

For the fourth quarter ending December 31, 2021, Axcelis expects revenues to be approximately $190 million. Gross margin in the fourth quarter is expected to be approximately 41.5%. Fourth quarter operating profit is forecasted to be approximately $37 million with earnings per diluted share of approximately $0.84. The Company also expects to exceed $640 million in revenue for the full year 2021.

Tailwinds

  • Revenues to be approximately $190 million.
  • Gross margin to be approximately 41.5%.
  • Operating profit is forecasted to be approximately $37 million.
  • Earnings per diluted share of approximately $0.84.
  • Company also expects to exceed $640 million in revenue for the full year 2021.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+0.0%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+2.3%

Avg return

30 days after

57%

37 / 65 earnings

Positive

+14.2%

Q1 2020

Best reaction

-21.1%

Q3 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.6%-5.5%-14.1%
Q4 2025-16.6%-20.0%-14.3%
Q3 2025+4.8%+8.6%+12.8%
Q1 2025+5.0%+10.7%+15.9%
Q4 2024-12.3%-9.6%-13.9%
Q3 2024+1.9%-0.2%-13.2%
Q2 2024-3.9%-6.9%-6.8%
Q1 2024+3.0%+9.6%+8.7%
Q4 2023-5.8%-5.8%-13.8%
Q3 2023+0.4%+1.4%-1.3%
Q2 2023-4.9%-7.8%-1.7%
Q1 2023-6.7%-1.4%+33.4%
Q4 2022+4.8%+8.1%+4.2%
Q3 2022+1.8%+17.7%+34.0%
Q2 2022+12.2%+7.8%-9.5%
Q1 2022+0.3%-4.3%+8.8%
Q4 2021+7.0%+3.0%+4.5%
Q3 2021+1.5%+8.5%+8.6%
Q2 2021+11.7%+13.1%+28.1%
Q1 2021-5.0%-2.4%-4.7%
Q4 2020+1.8%+4.0%+4.1%
Q3 2020-0.3%-1.3%+20.2%
Q2 2020-16.0%-16.7%-24.6%
Q1 2020+14.2%+17.3%+19.4%
Q4 2019+10.9%+12.4%-7.0%
Q3 2019+6.3%+11.5%+9.2%
Q2 2019-1.3%-0.3%+6.8%
Q1 2019-13.6%-20.8%-32.6%
Q4 2018+3.6%+2.1%-9.1%
Q3 2018+4.7%+0.0%+15.4%
Q2 2018+3.8%-0.2%-9.6%
Q1 2018-6.0%-1.1%-3.3%
Q4 2017+0.2%-3.4%+7.1%
Q3 2017+10.7%+4.6%-2.4%
Q2 2017-2.0%+1.0%+4.9%
Q1 2017+11.7%+9.1%+21.8%
Q4 2016+7.6%+7.6%+0.3%
Q3 2016-21.1%-15.1%-8.5%
Q2 2016+3.4%+8.2%+12.6%
Q1 2016-9.1%
Q4 2015-8.4%
Q3 2015-20.4%
Q2 2015+8.9%
Q1 2015+6.5%
Q4 2014+6.8%
Q3 2014-1.4%
Q2 2014-1.1%
Q1 2014+0.6%
Q4 2013-4.7%
Q3 2013+5.0%
Q2 2013-2.3%
Q1 2013+12.3%
Q4 2012-2.9%
Q3 2012+4.7%
Q2 2012+12.4%
Q1 2012+1.7%
Q4 2011-2.3%
Q4 2009-2.3%
Q3 2010+0.7%
Q3 2011+0.7%
Q2 2011-9.2%
Q2 2010-9.2%
Q4 2010-9.2%
Q1 2011+1.0%
Q1 2010+8.1%

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