NASDAQ$PLAB

Photronics Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Photronics achieved record revenue for the fifth consecutive quarter, driven by strong end-market demand and higher pricing.

Photronics reported strong second quarter fiscal year 2022 results with record revenue driven by robust end-market demand and increased pricing. Revenue grew 28% year-over-year, and net income nearly tripled compared to the same period last year. The company expects continued sequential growth throughout 2022.

  • Revenue reached $204.5 million, reflecting an 8% sequential increase and a 28% year-over-year rise.
  • Net income attributable to Photronics, Inc. shareholders was $29.8 million ($0.49 per diluted share), a 29% increase over the previous quarter.
  • IC revenue increased by 30% year-over-year to $145.8 million.
  • FPD revenue increased 23% year-over-year to $58.7 million.

Headline financials

Total Revenue

$205M

Previous: $160M+28.0%
EPS (adj)

$0.49

Previous: $0.17+188.2%
Capital Expenditures

-$34.8M

Previous: -$73.5M+52.7%
Free Cash Flow

-$7.38M

Previous: -$63M+88.3%
Net Income

$27.4M

Previous: $10.5M+160.6%
Operating Income

$49.4M

Previous: $20.8M+137.4%
Gross Profit

$70.2M

Previous: $39.2M+78.9%
Cash & Equivalents

$329M

Previous: $256M+28.6%
Total Assets

$1.33B

Previous: $1.27B+5.2%
Stock-Based Comp

$1.58M

Previous: $1.42M+11.4%

Revenue & EPS history

Photronics · Revenue · Quarterly

$205M

Q2 2022+28%vs Q2 2021
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Photronics · $205M total across 2 segments · Q2 2022

  • IC
    $146M+30.2%
  • FPD
    $58.7M+22.8%

Forward guidance

For the third quarter of 2022, Photronics anticipates revenue to range between $205 million and $215 million, with net income attributable to Photronics, Inc. shareholders expected to be between $0.45 and $0.55 per diluted share.

Historical earnings impact

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

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+2.1%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+1.8%

Avg return

30 days after

62%

41 / 66 earnings

Positive

+45.4%

Q4 2025

Best reaction

-22.8%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026
Q1 2026+11.6%+1.2%+31.7%
Q4 2025+45.4%+43.1%+29.7%
Q3 2025+7.6%+1.8%+4.3%
Q2 2025-15.5%-14.7%-6.6%
Q1 2025+2.0%-3.9%-0.5%
Q4 2024+3.8%+4.7%-7.1%
Q3 2024+7.4%-1.1%+3.0%
Q2 2024-8.9%-6.7%-11.7%
Q1 2024-14.3%-9.2%-7.8%
Q4 2023+34.5%+34.6%+34.0%
Q3 2023-12.3%-14.6%-12.0%
Q2 2023+17.7%+23.4%+33.9%
Q1 2023-9.0%-1.8%-8.3%
Q4 2022-6.8%-6.8%-1.1%
Q3 2022-22.8%-29.4%-31.4%
Q2 2022+33.4%+40.8%+35.2%
Q1 2022+2.4%-0.8%-1.1%
Q4 2021+23.8%+15.5%+30.5%
Q3 2021+4.3%+7.7%+3.6%
Q2 2021+3.1%+2.9%+2.5%
Q1 2021-6.6%-6.0%-2.6%
Q4 2020-15.9%-15.7%-13.2%
Q3 2020-5.9%-9.0%-11.3%
Q2 2020-12.9%-11.6%-19.1%
Q1 2020+2.9%-3.5%-23.3%
Q4 2019+29.5%+24.1%+20.4%
Q3 2019+4.4%+1.1%+17.2%
Q2 2019-1.3%-2.5%-3.2%
Q1 2019-8.1%-12.3%-20.1%
Q4 2018+4.6%+3.1%+9.4%
Q3 2018+15.1%+20.1%+10.6%
Q2 2018+7.7%+9.5%+0.0%
Q1 2018+3.8%-0.6%+16.7%
Q4 2017+3.2%-1.6%-8.8%
Q3 2017-17.4%-20.5%-16.3%
Q2 2017-9.5%-12.1%-13.9%
Q1 2017-0.9%-0.4%-1.8%
Q4 2016+7.7%+17.9%+13.8%
Q3 2016-10.7%-8.2%-3.7%
Q2 2016-8.4%
Q1 2016+3.4%
Q4 2015+5.1%
Q3 2015+7.6%
Q2 2015+3.4%
Q1 2015+0.8%
Q4 2014-0.3%
Q3 2014+1.3%
Q2 2014-1.0%
Q1 2014-5.6%
Q4 2013+8.4%
Q3 2013+3.7%
Q2 2013-3.3%
Q1 2013+1.6%
Q4 2012+8.3%
Q3 2012+6.9%
Q2 2012-2.1%
Q1 2011+4.5%
Q1 2012-2.3%
Q4 2011+1.2%
Q2 2011+1.2%
Q4 2009+1.2%
Q3 2011+2.0%
Q3 2010+2.0%
Q4 2010+2.0%
Q2 2010+5.9%
Q1 2010-3.1%

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