NASDAQ$UCTT

Ultra Clean Holdings Inc. · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported financial results for the first quarter of 2023.

Ultra Clean Holdings reported first quarter results with revenue of $433.3 million. The company reported a net loss of $(3.4) million, or $(0.08) per diluted share, and a non-GAAP net income of $7.6 million, or $0.17 per diluted share.

  • Total revenue was $433.3 million.
  • Products revenue contributed $368.6 million.
  • Services revenue added $64.7 million.
  • Net loss was $(3.4) million or $(0.08) per diluted share.

Headline financials

Total Revenue

$433M

Previous: $564M-23.2%
EPS (adj)

$0.17

Previous: $0.95-82.1%
Gross Margin

16.8%

Previous: 20.2%-16.8%
Operating Margin

2.9%

Previous: 8.1%-64.2%
Non-GAAP Gross Margin

17.3%

Previous: 20.5%-15.6%
Non-GAAP Operating Margin

5.1%

Previous: 10.9%-53.2%
Capital Expenditures

$27.3M

Previous: -$28.4M+196.1%
Free Cash Flow

$700K

Previous: -$500K+240.0%
Net Income

-$3.4M

Previous: $27.9M-112.2%
Operating Income

$12.4M

Previous: $45.7M-72.9%
Gross Profit

$73M

Previous: $114M-35.8%
Cash & Equivalents

$322M

Previous: $367M-12.2%
Total Assets

$1.87B

Previous: $2.01B-7.2%
Stock-Based Comp

$3.7M

Previous: $5.6M-33.9%

Revenue & EPS history

Ultra Clean · Revenue · Quarterly

$433M

Q1 2023-23.2%vs Q1 2022
Beat estimate in 10 of 14 quarters(71%)
ActualEstimate

Revenue by segment

Ultra Clean · $433M total across 2 segments · Q1 2023

  • Products
    $369M-24.3%
  • Services
    $64.7M-16.3%

Forward guidance

The Company expects revenue in the range of $410.0 million to $460.0 million. The Company expects GAAP diluted net income (loss) per share to be between $(0.08) and $0.10 and non-GAAP diluted net income per share to be between $0.15 and $0.35.

Tailwinds

  • Revenue expected between $410.0 million and $460.0 million
  • GAAP diluted net income (loss) per share to be between $(0.08) and $0.10
  • Non-GAAP diluted net income per share to be between $0.15 and $0.35

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 Q1 2023

Historical avgQ1 2023

+0.8%

Avg return

Earnings day

-0.9%

Avg return

5 days after

+1.4%

Avg return

30 days after

49%

32 / 65 earnings

Positive

+30.0%

Q2 2015

Best reaction

-28.2%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.6%+6.8%+9.4%
Q4 2025+17.1%-1.2%-3.1%
Q3 2025-4.2%-4.4%-15.0%
Q2 2025-0.6%-9.8%+0.2%
Q1 2025-13.9%-9.6%-9.5%
Q4 2024-28.2%-31.8%-35.7%
Q3 2024-1.3%-3.5%+5.1%
Q2 2024-0.3%-8.5%-16.1%
Q1 2024+4.7%+4.9%+12.5%
Q4 2023+6.3%+7.6%+7.5%
Q3 2023-2.6%-2.3%+8.7%
Q2 2023+0.9%+3.3%-9.4%
Q1 2023-0.4%+0.8%+27.6%
Q4 2022-6.5%-6.5%-7.3%
Q3 2022+8.0%+9.8%+20.0%
Q2 2022-5.2%-4.9%-11.5%
Q1 2022-2.2%-3.8%+3.7%
Q4 2021-1.5%-2.0%-7.8%
Q3 2021+19.7%+25.2%+25.8%
Q2 2021-14.0%-11.9%-16.6%
Q1 2021-4.9%-9.2%+1.6%
Q4 2020-5.7%-5.7%+2.7%
Q3 2020-1.4%-1.7%+38.3%
Q2 2020+28.9%+26.3%+8.3%
Q1 2020+8.8%+1.6%+22.6%
Q4 2019+3.5%-13.4%-50.7%
Q3 2019+18.7%+25.8%+23.5%
Q2 2019-4.9%-10.6%-20.2%
Q1 2019+18.4%+15.7%+4.2%
Q4 2018-10.7%-10.4%-17.4%
Q3 2018-9.7%-16.8%-19.1%
Q2 2018-1.9%-9.1%-4.9%
Q1 2018+16.9%+9.8%+9.4%
Q4 2017-8.3%-3.1%-6.3%
Q3 2017-22.6%-27.2%-25.7%
Q2 2017-1.9%-9.5%-10.1%
Q1 2017+11.8%+16.5%+36.1%
Q4 2016+13.2%+17.7%+26.5%
Q3 2016+0.3%+8.7%+30.7%
Q2 2016+4.2%+1.3%+18.9%
Q1 2016+2.2%
Q4 2015+7.4%
Q3 2015-11.4%
Q2 2015+30.0%
Q1 2015-19.9%
Q4 2014-10.5%
Q3 2014-0.3%
Q2 2014+6.0%
Q1 2014-24.6%
Q4 2013+12.2%
Q3 2013+19.1%
Q2 2013+5.7%
Q1 2013+6.2%
Q4 2012-0.7%
Q3 2012+1.7%
Q2 2012+2.2%
Q1 2011+1.7%
Q1 2012+4.7%
Q1 2010+2.7%
Q4 2011+2.7%
Q3 2010+3.1%
Q3 2011+3.1%
Q4 2010-4.1%
Q2 2011-4.1%
Q2 2010-4.1%

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