KLA Corporation (KLAC) To Report Earnings Tomorrow: Here Is What To Expect
Semiconductor manufacturing equipment maker KLA Corporation (NASDAQ:KLAC) will be announcing earnings results tomorrow after market close. Here's what investors should know.
KLA Corporation beat analysts' revenue expectations by 1.7% last quarter, reporting revenues of $2.36 billion, down 3% year on year. It was a decent quarter for the company, with a solid beat of analysts' EPS estimates and optimistic revenue guidance for the next quarter.
Is KLA Corporation a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting KLA Corporation's revenue to grow 6.7% year on year to $2.51 billion, a reversal from the 5.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $6.10 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. KLA Corporation has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.1% on average.
Looking at KLA Corporation's peers in the semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Micron Technology delivered year-on-year revenue growth of 81.5%, beating analysts' expectations by 2%, and NXP Semiconductors reported a revenue decline of 5.2%, in line with consensus estimates. Micron Technology traded down 7.1% following the results.
Read our full analysis of Micron Technology's results here and NXP Semiconductors's results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 3.6% on average over the last month. KLA Corporation is up 1.9% during the same time and is heading into earnings with an average analyst price target of $815.8 (compared to the current share price of $809.03).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.