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$AMAT Event Update: Applied Materials, Inc. will hold its 2015 Analyst Meeting on Monday, July 13, 2015 in San Francisco, California. Presentations by Applied's management team will begin at 2PM PT & conclude at approx. 4:30PM. PT. Presenters at Applied Materials analyst meeting will include Gary Dickerson, President and CEO, & Bob Halliday, CFO.
For 1Q18, $AMAT expects sales to be $4.00-4.20Bil, representing a midpoint increase of approx. 25%. Non-GAAP EPS is estimated to be $0.94-1.02, representing a midpoint increase of approx. 46% YoY. Earlier on Sept. 27, Applied Materials guided $19.6Bil of revenue and $5.08 of non-GAAP EPS for FY20.
$AMAT, which celebrated its 50th birthday on Nov. 10, 2017, reported strong results for its final quarter of 2017, helped by the robust sales in the Display segment. Profit surged more than 60% to $982MM or $0.91 per share in 4Q17. Sales spiked 20% to $3.97Bil, while non-GAAP EPS shot up 41% to $0.93.
$AMAT is targeting adjusted EPS of $5.08 for FY20 based on a $45Bil wafer fab equipment (WFE) market with increases in market share, GM, R&D investment and operating profit. $AMAT expects WFE spending in 2017 and 2018 combined to be $90Bil. $AMAT announced a new share repurchase program authorizing up to an additional $3Bil in repurchases.
$AMAT expects 4Q17 net sales of $3.85-4.0Bil, the midpoint of the range would be an increase of about 19% year-over-year. The company sees adjusted EPS in the range of $0.86-0.94, the midpoint of the range would be an increase of about 36% year-over-year.
$AMAT reported a 83% jump in 3Q17 earnings driven by higher sales as well as the advancement of the innovation roadmap in semiconductor and display backed by growing markets. Net income rose to 925MM or $0.85 per share from $505MM or $0.46 per share last year. Net sales climbed 33% to $3.74Bil. Non-GAAP EPS surged 72% to $0.86.
$AMAT, a provider of materials engineering solutions, has appointed Dan Durn as SVP, effective August 7, 2017. Durn, a semiconductor industry veteran, will assume the role of CFO also, effective August 24. Most recently, Durn served NXP Semiconductors as CFO. Earlier, he held leadership positions in Freescale Semiconductor and Globalfoundries.
$AMAT stated that its interconnect group and related products provide a strong position for the company. This growth is aligned with the products in Logic and Foundry and gives $AMAT good growth opportunities. $AMAT believes its innovative technologies will help in scaling 3D NAND technology and also enable new memory technologies.
$AMAT said China is one of its strongest regions for semiconductor and display. For 2017, the company expects to see 2x growth in its semiconductor business versus 2015 along with 50% growth in service and 50% growth in display. This business is driven by a huge supply-demand gap and the need to build a secure supply chain.
In 3Q17, $AMAT expects net sales to be $3.6-3.75Bil. The midpoint of the range would be an increase of approx. 30% YoY. Adjusted diluted EPS is expected to be $0.79-0.87. The midpoint of the range would be an increase of approx. 66% YoY.
Since 2012, $AMAT has grown its Display revenues around 20% per year, and it believes to book $2Bil of orders in 2017. The company said it has great traction with its new thin film encapsulation and E-Beam Review products, and expects to announce more new products later this year.