NASDAQ$VECO
Veeco Instruments Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Veeco reported strong top and bottom-line results, exceeding guidance, and made progress in the Semiconductor market with key business wins and the shipment of the first Nanosecond Annealing system to a Tier 1 logic customer.
Veeco Instruments Inc. announced its Q3 2023 financial results, reporting revenue of $177.4 million and GAAP net income of $24.6 million, or $0.42 per diluted share. Non-GAAP net income was $31.0 million, or $0.53 per diluted share.
- Revenue reached $177.4 million, up from $171.9 million in the same period last year.
- GAAP net income was $24.6 million, or $0.42 per diluted share, compared to $15.0 million, or $0.27 per diluted share last year.
- Non-GAAP net income amounted to $31.0 million, or $0.53 per diluted share, versus $26.0 million, or $0.45 per diluted share in the prior year.
- The company shipped its first Nanosecond Annealing system to a Tier 1 logic customer for evaluation.
Headline financials
Revenue & EPS history
Veeco · Revenue · Quarterly
$177M
Forward guidance
Veeco provided guidance for the fourth quarter of 2023, with revenue expected in the range of $155 million to $175 million. GAAP diluted earnings per share are projected to be between $0.22 and $0.33, while non-GAAP diluted earnings per share are expected to range from $0.35 to $0.45.
Tailwinds
- Revenue is expected in the range of $155 million to $175 million
- Gross profit is expected to be between $66 million and $76 million.
- Gross margin is expected to be between 42% and 43%.
- Operating income is expected to be between $14 million and $21 million.
- Net income is projected to be between $13 million and $20 million.
Headwinds
- Operating expenses are expected to be between $53 million and $55 million.
- Share based compensation is expected to be $7 million.
- Amortization is expected to be $2 million.
- Net income is expected to be between $13 million and $20 million.
- Income per diluted common share is expected to be between $0.22 and $0.33.
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 Q3 2023
+0.9%
Avg return
Earnings day
+3.6%
Avg return
5 days after
+2.3%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+26.4%
Q1 2020
Best reaction
-26.6%
Q2 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.7% | +16.7% | +25.0% | |
| Q4 2025 | +7.7% | +14.1% | +23.9% | |
| Q3 2025 | -1.0% | +3.8% | +8.8% | |
| Q1 2025 | +5.5% | +12.2% | +8.9% | |
| Q4 2024 | +2.6% | +5.6% | -9.2% | |
| Q3 2024 | -0.2% | -3.5% | -4.6% | |
| Q2 2024 | -5.9% | +4.2% | -10.3% | |
| Q1 2024 | +4.8% | +1.4% | +15.7% | |
| Q4 2023 | +3.8% | +3.8% | -1.3% | |
| Q3 2023 | +6.6% | +9.7% | +9.7% | |
| Q2 2023 | +6.7% | +6.2% | +2.3% | |
| Q1 2023 | +9.2% | +11.9% | +36.9% | |
| Q4 2022 | +6.1% | +6.1% | +2.0% | |
| Q3 2022 | +1.8% | +9.6% | +4.8% | |
| Q2 2022 | -5.3% | +4.8% | -10.4% | |
| Q1 2022 | -16.0% | -6.7% | -7.7% | |
| Q4 2021 | -5.1% | -6.0% | +1.5% | |
| Q3 2021 | +10.2% | +9.6% | +5.1% | |
| Q2 2021 | -2.7% | +0.3% | +0.3% | |
| Q1 2021 | -2.9% | -0.4% | +4.4% | |
| Q4 2020 | +8.2% | +7.2% | +9.4% | |
| Q3 2020 | -0.2% | -0.7% | +29.0% | |
| Q2 2020 | +4.0% | +1.2% | -6.6% | |
| Q1 2020 | +26.4% | +15.7% | +30.8% | |
| Q4 2019 | +14.2% | +2.1% | -35.7% | |
| Q3 2019 | +17.4% | +8.5% | -5.7% | |
| Q2 2019 | +4.2% | -6.1% | -22.0% | |
| Q1 2019 | +12.0% | +8.9% | -9.5% | |
| Q4 2018 | +3.6% | +7.0% | -0.1% | |
| Q3 2018 | -7.5% | -4.6% | -7.9% | |
| Q2 2018 | -21.4% | -20.7% | -18.6% | |
| Q1 2018 | -2.1% | -5.3% | +1.2% | |
| Q4 2017 | +13.9% | +25.2% | +24.2% | |
| Q3 2017 | -6.6% | -7.7% | -9.7% | |
| Q2 2017 | -26.6% | -27.7% | -34.8% | |
| Q1 2017 | -1.6% | -3.0% | -7.9% | |
| Q4 2016 | +3.0% | +5.6% | +10.7% | |
| Q3 2016 | +4.4% | +11.5% | +19.8% | |
| Q2 2016 | +10.8% | +18.3% | +17.3% | |
| Q1 2016 | -5.5% | — | — | |
| Q4 2015 | -11.9% | — | — | |
| Q3 2015 | -11.1% | — | — | |
| Q2 2015 | -7.3% | — | — | |
| Q1 2015 | +5.4% | — | — | |
| Q4 2014 | +2.9% | — | — | |
| Q3 2014 | +8.5% | — | — | |
| Q2 2014 | -2.2% | — | — | |
| Q1 2014 | -5.9% | — | — | |
| Q4 2013 | -2.2% | — | — | |
| Q3 2013 | -1.4% | — | — | |
| Q2 2013 | +8.7% | — | — | |
| Q1 2013 | +15.4% | — | — | |
| Q4 2012 | -4.8% | — | — | |
| Q3 2012 | +4.8% | — | — | |
| Q2 2012 | +12.2% | — | — | |
| Q1 2012 | +2.6% | — | — | |
| Q4 2009 | +1.7% | — | — | |
| Q4 2011 | +1.7% | — | — | |
| Q3 2011 | -10.2% | — | — | |
| Q3 2010 | -10.2% | — | — | |
| Q2 2010 | -9.1% | — | — | |
| Q2 2011 | -9.1% | — | — | |
| Q1 2010 | +2.4% | — | — | |
| Q4 2010 | +2.4% | — | — | |
| Q1 2011 | +2.4% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro