KLA Corp · Q3 2021 earnings

Briefing

KLA's Q3 2021 results demonstrated strong momentum with revenue at $1.80 billion, GAAP diluted EPS at $3.66, and non-GAAP diluted EPS at $3.85, all finishing at the upper end of guidance.

KLA Corporation announced strong Q3 fiscal year 2021 results, with revenue of $1.80 billion and GAAP net income of $567 million, driven by secular demand trends across semiconductor markets. The company also reported record free cash flow and continued its capital allocation strategy.

• Total revenues were $1.80 billion, finishing at the upper end of the range of guidance.
• GAAP diluted EPS attributable to KLA was $3.66, and non-GAAP diluted EPS attributable to KLA was $3.85, each also finishing at the upper end of the range of guidance.
• Cash flow from operations and free cash flow were both records at $646.2 million and $585.0 million, respectively.
• Capital return was $412.7 million with $139.3 million in dividends and $273.4 million in share repurchases.

Headline financials

Revenue & EPS history

KLA provides guidance for Q4 fiscal year 2021 ending in June, with total revenue expected between $1,755 million and $1,955 million, GAAP gross margin between 58% and 61%, non-GAAP gross margin between 61% and 63%, GAAP diluted EPS between $3.20 and $4.08, and non-GAAP diluted EPS between $3.47 and $4.35.