Camtek Q2: 7% Sales Decline, Earnings Beat, Margin Pressure & More
Portfolio Pulse from Nabaparna Bhattacharya
Camtek Ltd. reported a Q2 FY23 revenue decline of 7.3% YoY to $73.758 million, beating the consensus of $72.380 million. Non-GAAP EPS of $0.45 beat the consensus of $0.42. The non-GAAP gross margin contracted 290 bps to 48% as the non-GAAP profit declined by 12.6%. The company expects Q3 revenues to be $77 million-$79 million, with continued growth in Q4 and 2024. CAMT shares are trading lower by 3.38% premarket to $45.69.
July 31, 2023 | 12:43 pm
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NEGATIVE IMPACT
Despite beating consensus estimates, Camtek's Q2 FY23 revenue declined and shares are trading lower. The company expects Q3 revenues to be $77 million-$79 million.
Camtek's Q2 FY23 revenue declined by 7.3% YoY, which is a negative signal for investors. However, the company beat consensus estimates for both revenue and EPS, which is a positive signal. The company's outlook for Q3 revenues is also positive. Despite these positive signals, the company's shares are trading lower, indicating that the market may be focusing on the revenue decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100