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Lam Research (LRCX) to Post Q1 Earnings: What's in the Cards?
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Lam Research Corporation (LRCX - Free Report) is scheduled to report first-quarter fiscal 2024 results on Oct 18.
For the fiscal first quarter, the company expects revenues of $3.4 billion (+/- $300 million). The Zacks Consensus Estimate for revenues is pegged at $3.41 billion, indicating a decline of 32.8% from the year-ago reported figure.
The company anticipates non-GAAP earnings per share of $6.05 (+/- 75 cents) for first-quarter fiscal 2023. The consensus mark for earnings per share is pegged at $6.07, indicating a 41.7% fall from the prior year’s reported figure. The estimate has been stable over the past 30 days.
Lam Research surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed it once, the average surprise being 10.7%.
Lam Research’s proper execution, expanding and diversifying global footprints and growing installed base might have remained positives.
The impact of the company’s technological advancements, especially with AI, is likely to be reflected in the upcoming results.
Its strength in 3D DRAM and advanced packaging might have been a tailwind.
The growing proliferation of 5G, artificial intelligence and the Internet of Things is likely to have continued bolstering the adoption rate of the company’s advanced semiconductor and memory solutions in the fiscal first quarter.
Increasing momentum in both ALD metals and dielectric deposition solutions might have contributed well.
Lam Research is likely to have continued suffering from sluggish memory spending. This, in turn, might have hurt its system revenues in the fiscal first quarter.
The Zacks Consensus Estimate for system revenues is pegged at $1.87 billion, indicating a decline of 41.3% from the year-ago quarter.
The figure reflects 9.2% growth from the prior quarter’s reported figure. This shows an improvement in market conditions.
However, rising inflationary pressure and geo-political tensions are anticipated to have acted as headwinds for the company in the quarter under review.
What Our Model Says
Our proven model predicts an earnings beat for Lam Research this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Lam Research currently has an Earnings ESP of +0.03%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
LCRX carries a Zacks Rank #2 at present.
Stocks to Consider
Here are some companies that, per our model, have the right combination of elements to post an earnings beat in the soon-to-be-reported quarterly results.
Itron is scheduled to release third-quarter 2023 results on Nov 2. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 51 cents per share, suggesting a jump of 121.7% from the prior-year quarter.
Alphabet (GOOGL - Free Report) has an Earnings ESP of +3.06% and a Zacks Rank #3 at present.
Alphabet is scheduled to release third-quarter 2023 results on Oct 24. The Zacks Consensus Estimate for GOOGL’s earnings is pinned at $1.45 per share, reflecting growth of 36.8% from the year-ago quarter.
Carrier Global (CARR - Free Report) has an Earnings ESP of +5.31% and a Zacks Rank #3 at present.
Carrier is set to report third-quarter 2023 results on Oct 26. The Zacks Consensus Estimate for CARR’s earnings is pegged at 78 cents per share, suggesting growth of 11.4% from the prior-year fiscal period’s reported figure.
Image: Bigstock
Lam Research (LRCX) to Post Q1 Earnings: What's in the Cards?
Lam Research Corporation (LRCX - Free Report) is scheduled to report first-quarter fiscal 2024 results on Oct 18.
For the fiscal first quarter, the company expects revenues of $3.4 billion (+/- $300 million). The Zacks Consensus Estimate for revenues is pegged at $3.41 billion, indicating a decline of 32.8% from the year-ago reported figure.
The company anticipates non-GAAP earnings per share of $6.05 (+/- 75 cents) for first-quarter fiscal 2023. The consensus mark for earnings per share is pegged at $6.07, indicating a 41.7% fall from the prior year’s reported figure. The estimate has been stable over the past 30 days.
Lam Research surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed it once, the average surprise being 10.7%.
Lam Research Corporation Price and EPS Surprise
Lam Research Corporation price-eps-surprise | Lam Research Corporation Quote
Key Factors to Consider
Lam Research’s proper execution, expanding and diversifying global footprints and growing installed base might have remained positives.
The impact of the company’s technological advancements, especially with AI, is likely to be reflected in the upcoming results.
Its strength in 3D DRAM and advanced packaging might have been a tailwind.
The growing proliferation of 5G, artificial intelligence and the Internet of Things is likely to have continued bolstering the adoption rate of the company’s advanced semiconductor and memory solutions in the fiscal first quarter.
Increasing momentum in both ALD metals and dielectric deposition solutions might have contributed well.
Lam Research is likely to have continued suffering from sluggish memory spending. This, in turn, might have hurt its system revenues in the fiscal first quarter.
The Zacks Consensus Estimate for system revenues is pegged at $1.87 billion, indicating a decline of 41.3% from the year-ago quarter.
The figure reflects 9.2% growth from the prior quarter’s reported figure. This shows an improvement in market conditions.
However, rising inflationary pressure and geo-political tensions are anticipated to have acted as headwinds for the company in the quarter under review.
What Our Model Says
Our proven model predicts an earnings beat for Lam Research this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Lam Research currently has an Earnings ESP of +0.03%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
LCRX carries a Zacks Rank #2 at present.
Stocks to Consider
Here are some companies that, per our model, have the right combination of elements to post an earnings beat in the soon-to-be-reported quarterly results.
Itron (ITRI - Free Report) has an Earnings ESP of +14.39% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Itron is scheduled to release third-quarter 2023 results on Nov 2. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 51 cents per share, suggesting a jump of 121.7% from the prior-year quarter.
Alphabet (GOOGL - Free Report) has an Earnings ESP of +3.06% and a Zacks Rank #3 at present.
Alphabet is scheduled to release third-quarter 2023 results on Oct 24. The Zacks Consensus Estimate for GOOGL’s earnings is pinned at $1.45 per share, reflecting growth of 36.8% from the year-ago quarter.
Carrier Global (CARR - Free Report) has an Earnings ESP of +5.31% and a Zacks Rank #3 at present.
Carrier is set to report third-quarter 2023 results on Oct 26. The Zacks Consensus Estimate for CARR’s earnings is pegged at 78 cents per share, suggesting growth of 11.4% from the prior-year fiscal period’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.