NASDAQ$KLAC
KLA Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
KLA's Q4 2023 results exceeded expectations, driven by the strength of its portfolio and operational execution.
KLA Corporation reported Q4 FY23 revenues of $2.355 billion, GAAP EPS of $4.97, and non-GAAP EPS of $5.40, all exceeding the mid-point of guidance. The company's performance reflects the strength of its portfolio and focused operational execution in a challenging demand environment.
- Total revenues for the quarter were $2.355 billion, surpassing the guidance range.
- GAAP diluted EPS was $4.97, and non-GAAP diluted EPS was $5.40, both above the guidance mid-point.
- Cash flow from operating activities for the quarter reached $959.1 million, with free cash flow at $880.4 million.
- Capital returns for the quarter amounted to $568.3 million.
Headline financials
Revenue & EPS history
KLA · Revenue · Quarterly
$2.36B
Revenue by segment
KLA · $2.36B total across 3 segments · Q4 2023
- Semiconductor Process$2.1B-0.8%89.0%
- Specialty Semi Process$129M+3.6%5.5%
- PCB & Component$129M-48.2%5.5%
Forward guidance
KLA anticipates revenues of $2.35 billion +/- $125 million for Q1 2024. GAAP gross margin is expected to be 59.0% +/- 1.0%, and non-GAAP gross margin is expected to be 61.0% +/- 1.0%. GAAP diluted EPS is projected to be $5.02 +/- $0.60, while non-GAAP diluted EPS is expected to be $5.35 +/- $0.60.
Tailwinds
- GAAP net income per diluted share is expected to be between $4.42 and $5.62.
- Acquisition-related charges are expected to contribute $0.45.
- Restructuring, severance, and other charges are expected to contribute $0.01.
- The income tax effect of non-GAAP adjustments is expected to be a deduction of $0.13.
- Non-GAAP net income per diluted share is projected to be between $4.75 and $5.95.
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 Q4 2023
+0.6%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+5.1%
Avg return
30 days after
55%
37 / 67 earnings
Positive
+11.6%
Q4 2023
Best reaction
-9.0%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +6.2% | -4.6% | +5.7% | |
| Q2 2026 | -8.1% | -22.4% | -9.5% | |
| Q1 2026 | -0.9% | -3.4% | -4.8% | |
| Q3 2025 | -3.8% | -3.3% | +7.7% | |
| Q2 2025 | -0.6% | +2.3% | -4.5% | |
| Q1 2025 | -4.3% | -4.7% | -7.1% | |
| Q4 2024 | -5.6% | -3.6% | +1.3% | |
| Q3 2024 | +7.6% | +5.0% | +18.7% | |
| Q2 2024 | -6.1% | -6.8% | +4.8% | |
| Q1 2024 | -2.6% | -2.3% | +18.2% | |
| Q4 2023 | +11.6% | +12.3% | +5.2% | |
| Q3 2023 | +7.5% | +7.5% | +28.9% | |
| Q2 2023 | -5.5% | -7.1% | -10.1% | |
| Q1 2023 | +1.3% | +3.8% | +24.6% | |
| Q4 2022 | +6.2% | +6.0% | -0.5% | |
| Q3 2022 | +1.4% | +6.1% | +17.9% | |
| Q2 2022 | -3.7% | +2.0% | -6.0% | |
| Q1 2022 | +3.9% | +11.2% | +16.7% | |
| Q4 2021 | +10.3% | +9.9% | +8.7% | |
| Q3 2021 | -2.9% | -5.2% | -2.4% | |
| Q2 2021 | -1.5% | +1.2% | -1.0% | |
| Q1 2021 | +1.7% | +1.8% | +28.0% | |
| Q4 2020 | +2.5% | +1.5% | +7.9% | |
| Q3 2020 | +7.8% | +12.8% | +22.6% | |
| Q2 2020 | +0.8% | -2.8% | -7.8% | |
| Q1 2020 | -0.7% | +2.2% | -3.8% | |
| Q4 2019 | +1.8% | +2.1% | +13.1% | |
| Q3 2019 | -9.0% | -11.2% | -17.2% | |
| Q2 2019 | +4.2% | +5.2% | +13.6% | |
| Q1 2019 | +5.0% | +7.0% | +13.2% | |
| Q4 2018 | +9.2% | +11.2% | +8.5% | |
| Q3 2018 | +3.6% | +3.7% | +15.9% | |
| Q2 2018 | -1.3% | -4.8% | -3.9% | |
| Q1 2018 | +1.3% | +2.0% | -1.6% | |
| Q4 2017 | -6.4% | -8.2% | -10.3% | |
| Q3 2017 | -2.6% | -1.1% | +3.9% | |
| Q2 2017 | +1.8% | +0.5% | +6.6% | |
| Q1 2017 | +2.4% | +4.1% | +11.3% | |
| Q4 2016 | -1.7% | -1.7% | -12.3% | |
| Q3 2016 | +0.9% | — | — | |
| Q2 2016 | +4.0% | — | — | |
| Q1 2016 | +2.1% | — | — | |
| Q4 2015 | +2.5% | — | — | |
| Q3 2015 | -2.3% | — | — | |
| Q2 2015 | -6.0% | — | — | |
| Q1 2015 | +8.0% | — | — | |
| Q4 2014 | -2.3% | — | — | |
| Q3 2014 | -5.7% | — | — | |
| Q2 2014 | -2.5% | — | — | |
| Q1 2014 | +1.6% | — | — | |
| Q4 2013 | -3.4% | — | — | |
| Q3 2013 | -6.1% | — | — | |
| Q2 2013 | +7.6% | — | — | |
| Q1 2013 | -1.1% | — | — | |
| Q4 2012 | +4.0% | — | — | |
| Q3 2012 | -1.7% | — | — | |
| Q2 2012 | +2.1% | — | — | |
| Q1 2012 | +4.7% | — | — | |
| Q4 2011 | -6.6% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q3 2011 | +0.7% | — | — | |
| Q2 2011 | -1.3% | — | — | |
| Q2 2010 | -1.3% | — | — | |
| Q1 2010 | +2.0% | — | — | |
| Q4 2009 | +2.0% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q4 2010 | +2.0% | — | — |
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