NASDAQ$PLAB

Photronics Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Photronics reported fourth quarter and full year fiscal 2022 results, achieving record revenue for the fifth consecutive year.

Photronics reported a solid finish to the year with strong demand for design-driven products. Q4 revenue was $210.3 million, up 16% year-over-year, but down 4% sequentially. Net income was $37.1 million, or $0.60 per diluted share.

  • Achieved record revenue for the fifth consecutive year.
  • Q4 revenue was $210.3 million, up 16% compared to the same period last year.
  • Net income for Q4 was $37.1 million, or $0.60 per diluted share.
  • Generated strong cash from operations, allowing investment in organic growth and debt reduction.

Headline financials

Total Revenue

$210M

Previous: $181M+16.0%
EPS (adj)

$0.60

Previous: $0.33+81.8%
Capital Expenditures

$66M

Previous: $16.8M+292.9%
Free Cash Flow

$13.3M

Previous: $20.9M-36.5%
Net Income

$37.1M

Previous: $19.8M+87.4%
Operating Income

$41.4M

Previous: $33.5M+23.6%
Gross Profit

$80.3M

Previous: $51.9M+54.5%
Cash & Equivalents

$359M

Previous: $277M+29.8%
Total Assets

$1.32B

Previous: $1.29B+1.7%
Stock-Based Comp

$1.69M

Previous: $1.31M+28.2%

Revenue & EPS history

Photronics · Revenue · Quarterly

$210M

Q4 2022+16%vs Q4 2021
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Photronics · $210M total across 2 segments · Q4 2022

  • IC
    $156M+24.6%
  • FPD
    $54.1M-3.0%

Forward guidance

For the first quarter of 2023, Photronics expects revenue to be between $203 million and $213 million and net income attributable to Photronics, Inc. shareholders to be between $0.40 and $0.48 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 Q4 2022

Historical avgQ4 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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