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For the fiscal third quarter, Amtech anticipates revenues between $22 million and $25 million. The Zacks Consensus Estimate is currently pegged at $24 billion, which indicates a plunge of 21.9% from the year-ago reported figure.
Further, the consensus mark for the third-quarter bottom line is pegged at a loss of 5 cents per share. This compares unfavorably with the year-ago quarter’s earnings of 2 cents per share.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing the same on one occasion.
In the last reported quarter, Amtech’s revenues of $25.4 million surpassed the Zacks Consensus Estimate of $23 million but declined 23.7% year over year. It reported a loss of a penny in the second quarter, narrower than the consensus mark of a loss of 11 cents. The bottom-line results also compared unfavorably with the year-ago quarter’s earnings of 19 cents per share.
Let’s see how things are shaping up for this announcement.
Amtech’s third-quarter performance is likely to have been negatively impacted by softness in demand for back-end packaging applications in the semiconductor industry and a decline in electric vehicle demand. These segments are critical to the company's business, and weakening demand is hurting its overall sales.
Amtech's backlog decreased by $5.7 million from Dec 31, 2023, down to $44.3 million as of Mar 31, 2024. A shrinking backlog indicates potential future revenue challenges, reflecting reduced order intake and potential customer hesitancy in placing new orders. The decrease in the backlog, coupled with a book-to-bill ratio of 0.8:1, signifies that new orders are not keeping pace with shipments.
During its second-quarter earnings conference call, Amtech stated that the demand for consumables, particularly for silicon carbide semiconductor production, has been inconsistent due to customer buying patterns and a softening in the electric vehicle market. A persistent slowdown in electric vehicle demand is likely to have hurt Amtech’s sales across its Materials and Substrates end markets.
Amtech has been negatively impacted by inflation, particularly regarding shipments of equipment booked several months ago to over a year. The inflation experienced over the past year has eroded margins for these shipments. The trend is likely to have continued in the third quarter, thereby negatively impacting its gross margin and overall profitability.
Amtech noted during the second-quarter earnings call that although it has improved lead times and adjusted pricing to better reflect current costs, the benefits of these changes will not be fully realized for several quarters. In the interim, this inflation impact could continue to depress gross margins and overall profitability.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Amtech this season. The combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
ASYS currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
The Zacks Consensus Estimate for CACI’s fourth-quarter earnings has been revised downward by 3 cents to $5.90 over the past 60 days, which suggests an improvement of 11.3% from the year-ago quarter. The consensus mark for revenues is pegged at $1.92 billion, which implies a 12.8% increase from the year-ago quarter.
Snowflake (SNOW - Free Report) has an Earnings ESP of +9.68% and carries a Zacks Rank #3 at present. Snowflake is set to report its second-quarter fiscal 2024 results on Aug 21.
The Zacks Consensus Estimate for SNOW’s second-quarter earnings has been revised upward by a penny to 16 cents per share over the past 30 days and indicates a decline of 27.3% from the year-ago quarter’s earnings of 22 cents. The consensus mark for revenues is pegged at $848.2 million, which implies a 25.8% increase from the year-ago quarter.
21Vianet Group (VNET - Free Report) has an Earnings ESP of +60.00% and carries a Zacks Rank #3 at present. The company is expected to report second-quarter 2024 results on Aug 28.
The Zacks Consensus Estimate for VNET’s second-quarter earnings has been revised upward by 3 cents to 5 cents over the past 30 days and indicates a robust improvement from the year-ago quarter’s loss of 24 cents. The consensus mark for revenues is pegged at $268.1 million, which calls for a 6.7% increase from the year-ago quarter.
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What's in the Offing for Amtech (ASYS) This Earnings Season?
Amtech Systems, Inc. (ASYS - Free Report) is slated to release third-quarter fiscal 2024 results on Aug 7.
For the fiscal third quarter, Amtech anticipates revenues between $22 million and $25 million. The Zacks Consensus Estimate is currently pegged at $24 billion, which indicates a plunge of 21.9% from the year-ago reported figure.
Further, the consensus mark for the third-quarter bottom line is pegged at a loss of 5 cents per share. This compares unfavorably with the year-ago quarter’s earnings of 2 cents per share.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing the same on one occasion.
In the last reported quarter, Amtech’s revenues of $25.4 million surpassed the Zacks Consensus Estimate of $23 million but declined 23.7% year over year. It reported a loss of a penny in the second quarter, narrower than the consensus mark of a loss of 11 cents. The bottom-line results also compared unfavorably with the year-ago quarter’s earnings of 19 cents per share.
Let’s see how things are shaping up for this announcement.
Amtech Systems, Inc. Price and EPS Surprise
Amtech Systems, Inc. price-eps-surprise | Amtech Systems, Inc. Quote
Factors to Consider
Amtech’s third-quarter performance is likely to have been negatively impacted by softness in demand for back-end packaging applications in the semiconductor industry and a decline in electric vehicle demand. These segments are critical to the company's business, and weakening demand is hurting its overall sales.
Amtech's backlog decreased by $5.7 million from Dec 31, 2023, down to $44.3 million as of Mar 31, 2024. A shrinking backlog indicates potential future revenue challenges, reflecting reduced order intake and potential customer hesitancy in placing new orders. The decrease in the backlog, coupled with a book-to-bill ratio of 0.8:1, signifies that new orders are not keeping pace with shipments.
During its second-quarter earnings conference call, Amtech stated that the demand for consumables, particularly for silicon carbide semiconductor production, has been inconsistent due to customer buying patterns and a softening in the electric vehicle market. A persistent slowdown in electric vehicle demand is likely to have hurt Amtech’s sales across its Materials and Substrates end markets.
Amtech has been negatively impacted by inflation, particularly regarding shipments of equipment booked several months ago to over a year. The inflation experienced over the past year has eroded margins for these shipments. The trend is likely to have continued in the third quarter, thereby negatively impacting its gross margin and overall profitability.
Amtech noted during the second-quarter earnings call that although it has improved lead times and adjusted pricing to better reflect current costs, the benefits of these changes will not be fully realized for several quarters. In the interim, this inflation impact could continue to depress gross margins and overall profitability.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Amtech this season. The combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
ASYS currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
CACI International (CACI - Free Report) is slated to report fourth-quarter fiscal 2024 results on Aug 7. CACI has an Earnings ESP of +2.18% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CACI’s fourth-quarter earnings has been revised downward by 3 cents to $5.90 over the past 60 days, which suggests an improvement of 11.3% from the year-ago quarter. The consensus mark for revenues is pegged at $1.92 billion, which implies a 12.8% increase from the year-ago quarter.
Snowflake (SNOW - Free Report) has an Earnings ESP of +9.68% and carries a Zacks Rank #3 at present. Snowflake is set to report its second-quarter fiscal 2024 results on Aug 21.
The Zacks Consensus Estimate for SNOW’s second-quarter earnings has been revised upward by a penny to 16 cents per share over the past 30 days and indicates a decline of 27.3% from the year-ago quarter’s earnings of 22 cents. The consensus mark for revenues is pegged at $848.2 million, which implies a 25.8% increase from the year-ago quarter.
21Vianet Group (VNET - Free Report) has an Earnings ESP of +60.00% and carries a Zacks Rank #3 at present. The company is expected to report second-quarter 2024 results on Aug 28.
The Zacks Consensus Estimate for VNET’s second-quarter earnings has been revised upward by 3 cents to 5 cents over the past 30 days and indicates a robust improvement from the year-ago quarter’s loss of 24 cents. The consensus mark for revenues is pegged at $268.1 million, which calls for a 6.7% increase from the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.