ASML Holding N.V. Q2 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Financial & Operational Highlights

  • Q2 2021 net sales reached €4.0 billion, consistent with guidance. This compares to €4.4 billion in Q1 2021 (down due to delayed factory acceptance tests).
  • Gross margin was 50.9%, above guidance and slightly down from Q1’s 53% (driven by lower immersion mix but offset by strong upgrade business).
  • Net income was €1.0 billion with EPS of €2.52, down from Q1 (€1.3B net income; EPS €3.21).
  • Installed Base Management revenue was €1.1 billion, above guidance and up from Q1 (€1.0B), driven by accelerated software upgrades.
  • Q2 EUV shipments totaled 10 systems; revenue recognized for 9 systems at €1.3 billion. Two systems shipped without factory acceptance (revenue deferred to Q3).
  • Order intake hit a record €8.3 billion (vs. €4.0B in Q1), including €4.9B in EUV orders. Backlog increased to €17.5 billion (includes €10.9B EUV).
  • Logic accounted for 72% of system sales; Memory 28%, with Memory driven mainly by DRAM demand.
  • ASML bought back €2.0 billion in shares during Q2 and announced a new €9 billion share buyback program running through 2023.

Updated Full-Year 2021 Outlook (Compared to Prior Quarter Guidance)

  • Total revenue expected to grow about 35% year-on-year (vs. 30% previously).
  • Logic segment revenue growth raised from +30% YoY to +35% YoY.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Thank you for standing by. Welcome to the ASML 2021 Second Quarter Financial Results Conference Call on July 21, 2021. Throughout today’s introduction, all participants will be in a listen-only mode. After ASML’s introduction, there will be an opportunity to ask questions. I'll now hand the floor to our speakers. [Operator Instructions]. I'd like to now turn the conference call over to Mr. Skip Miller. Please begin your meeting. Skip Miller: All right. Thank you, operator. Welcome, everyone. This is Skip Miller, Vice President of Investor Relations at ASML. Joining me today on the call is ASML's CEO, Peter Wennink; and our CFO, Roger Dassen. The subject of today's call is ASML's 2021 second quarter results. The length of this call will be 60 minutes, and questions will be taken in the order that they are received. This call is also being broadcast live over the Internet at asml.com. A transcript of the management's opening remarks and a replay of the call will be available on our website shortly following the conclusion of this call. Before we begin, I'd like to caution listeners that comments made by management during this conference call will include forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve material risks and uncertainties. For a discussion of risk factors, I encourage you to review the safe harbor statement contained in today's press release and presentation found on our website at asm

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional