Dow Jones Newswires: ASML sales beat forecasts, while net profit falls less than expected

by | Oct 19, 2022 | Stock Market

ASML Holding NV reported on Wednesday a less-than-expected fall in net profit for the third-quarter, driven by record bookings and continued robust demand. The Dutch semiconductor-equipment maker
ASML,
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said that net profit for the quarter ended Oct. 3 fell to 1.70 billion euros ($1.68 billion) from EUR1.71 billion for the same period last year. This compares with a consensus of EUR1.51 billion, taken from FactSet and based on 17 analysts’ forecasts.

Net sales were EUR5.78 billion compared with EUR5.24 billion for the same period a year earlier, beating the guidance of between EUR5.1 billion and EUR5.4 billion provided by the company earlier this year. Gross margin was 51.8% compared with 51.7%, and a guidance range of between 49% and 50% provided by the company. ASML expects net sales of between EUR6.1 billion and EUR6.6 billion with a gross margin of around 49% for the fourth quarter. Sales for the full-year are expected to come in at EUR21.1 billion, the midpoint of the fourth-quarter guidance. “There is uncertainty in the market due to a number of global macroeconomic concerns including inflation, consumer confidence and the risk of a recession. While we are starting to see diverging demand dynamics per market segment, the overall demand for our systems continues to be strong,” Chief Executive Officer Peter Wennink said. The board declared an interim dividend of EUR1.37 a share, up from EUR1.80 a share declared a year ago. Write to Michael Susin at michael.susin@wsj.com Corrections & Amplifications This story was corrected at 0551 GMT because the currency used in analysts’ forecast consensus in the second paragraph was misstated as British Pound (GBP).

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