ULTRA CLEAN Reports Strong Q2 Earnings for FY2023
August 10, 2023
☀️Earnings Overview
ULTRA CLEAN ($NASDAQ:UCTT) announced their financial results for the second quarter of FY2023, which ended on June 30 2023, on July 27 2023. Revenue for the quarter was USD 421.5 million, a decrease of 30.8% from the same period in the previous year. Net income for the quarter was -9.4 million, an improvement from the -25.1 million loss reported in the same quarter of the prior year.
Share Price
On Thursday, shareholders of ULTRA CLEAN were pleased to learn that the company had reported strong earnings for its second quarter of FY2023. ULTRA CLEAN opened at $36.9 and closed at $36.2, up by 0.9% from the previous day’s closing price of $35.8. ULTRA CLEAN attributed these increases to increased investments in research & development, and successful cost-cutting initiatives that helped offset rising labor costs.
The strong results from ULTRA CLEAN’s Q2 have given investors confidence that the company can continue its profitable streak going forward. With promising outlooks for both the rest of this financial year and beyond, ULTRA CLEAN looks set to continue delivering strong results in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ultra Clean. More…
| Total Revenues | Net Income | Net Margin |
| 2.06k | 24.8 | 1.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ultra Clean. More…
| Operations | Investing | Financing |
| 97.3 | -96.3 | -103.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ultra Clean. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.84k | 937.5 | 19.01 |
Key Ratios Snapshot
Some of the financial key ratios for Ultra Clean are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.5% | 24.0% | 5.3% |
| FCF Margin | ROE | ROA |
| -0.2% | 8.0% | 3.7% |
Analysis
At GoodWhale, we have conducted an analysis of ULTRA CLEAN‘s wellbeing. Based on our Risk Rating system, ULTRA CLEAN is a medium risk investment in terms of financial and business aspects. During our assessment, we identified two risk warnings in ULTRA CLEAN’s balance sheet and cashflow statement. To learn more about these warnings, please become a registered user on our platform. We offer comprehensive, real-time data and insights to help you make informed decisions. More…
Peers
The company’s products include gas delivery systems, chemical delivery systems, chemical and plasma etch systems, and clean room automation solutions. The company’s products are used in a variety of applications, including the production of semiconductor devices, flat panel displays, solar cells, and other advanced electronics. Ultra Clean Holdings Inc competes with Contrel Technology Co Ltd, ASM International NV, and Kulicke & Soffa Industries Inc in the market for critical sub-systems for the semiconductor and display industries.
– Contrel Technology Co Ltd ($TPEX:8064)
Contrel Technology Co Ltd is a Taiwanese company that manufactures electronic control devices and products. The company has a market cap of 2.27B as of 2022 and a Return on Equity of 11.5%. Contrel Technology’s products are used in a variety of industries, including automotive, aerospace, and industrial automation.
– ASM International NV ($OTCPK:ASMIY)
ASM International NV is a Netherlands-based company engaged in the development and manufacturing of equipment and materials used in the semiconductor industry. The Company operates through four segments: Front-end, Memory, Foundry and Other. The Front-end segment offers products and services for wafer processing, including thermal processing, wafer cleaning and etching, and deposition. The Memory segment provides equipment and materials used in the production of DRAM, SRAM and Flash memory devices. The Foundry segment offers products used in the production of integrated circuits (ICs), including thermal processing, deposition, etching, and wafer cleaning equipment. The Other segment comprises of the Company’s display, solar and compound semiconductor businesses.
– Kulicke & Soffa Industries Inc ($NASDAQ:KLIC)
Kulicke & Soffa Industries Inc is a leading provider of semiconductor packaging and electronic assembly solutions. The company has a market cap of 2.45B and a ROE of 29.92%. K&S provides a broad range of services, including design, engineering, manufacturing and test. The company’s products are used in a variety of end-markets, including automotive, consumer, industrial, medical and aerospace and defense.
Summary
Investors have received mixed news from ULTRA CLEAN‘s FY2023 Q2 earnings results, showing a 30.8% decline in revenue from the same period last year. Net income for the quarter was also down, coming in at -9.4 million from -25.1 million a year ago. While the decrease in revenue is concerning, investors may be encouraged by the smaller loss than was reported in the same period last year. Going forward, investors should continue to monitor ULTRA CLEAN’s performance to determine if the company can turn around their results in the upcoming quarters.
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