Photronics Down 10% After Q2, CEO Cautions Slower Recovery In Order Rate, Taiwan Earthquakes
Portfolio Pulse from Nabaparna Bhattacharya
Photronics, Inc. (NASDAQ:PLAB) shares fell by 10% after the company reported Q2 earnings and revenue that missed Wall Street expectations. The CEO highlighted slower recovery in order rates and production losses due to Taiwan earthquakes. The company provided a cautious outlook for Q3.
May 22, 2024 | 3:20 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Photronics, Inc. reported Q2 earnings and revenue below expectations, leading to a 10% drop in share price. The CEO cited slower recovery in order rates and production losses due to Taiwan earthquakes. The company provided a cautious Q3 outlook.
Photronics missed both earnings and revenue estimates for Q2, which is a significant negative indicator for investors. The CEO's comments on slower order recovery and production losses due to Taiwan earthquakes further add to the negative sentiment. The cautious Q3 outlook suggests continued challenges ahead.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100