Q2 2024 ASML Holding NV Earnings Call Transcript
Key Points
- ASML Holding NV (ASML) reported total net sales of EUR6.2 billion for Q2 2024, slightly above guidance.
- Gross margin for the quarter was 51.5%, exceeding expectations due to higher immersion system sales.
- Net system bookings for Q2 2024 were EUR5.6 billion, indicating strong demand, particularly in the logic segment.
- The company ended Q2 with a backlog of around EUR39 billion, providing a solid foundation for future revenue.
- ASML Holding NV (ASML) expects Q3 2024 total net sales to be between EUR6.7 billion and EUR7.3 billion, showing confidence in continued growth.
- R&D expenses for Q2 2024 were slightly above guidance at EUR1.1 billion, driven by higher costs in metrology and inspection.
- Free cash flow for Q2 2024 was EUR386 million, which, although improved, still faces pressure due to customer support and higher inventory levels.
- Gross margin for the full year 2024 is expected to be slightly lower compared to 2023, impacted by increased High NA costs.
- The company faces macroeconomic uncertainties, which could affect future performance and demand.
- ASML Holding NV (ASML) anticipates lower revenue from logic customers in 2024 compared to the previous year due to significant capacity additions.
Good day and thank you for standing by. Welcome to the ASML 2024 second quarter financial results conference call on July 17, 2024. (Operator Instructions) please be advised that today's conference is being recorded. I would now like to turn the conference call over to Mr. Skip Miller. Please go ahead.
Thank you, operator. Welcome everyone, this is Skip Miller, Vice President of Investor Relations at ASML. Joining me today on the call, our ASML CEO, Christophe Fouquet; and our CFO, Roger Dassen. The subject of today's call is ASML's 2024 second quarter results. The length of this call will be 60 minutes and questions will be taken in the order they are received. This call will also be broadcast live over the Internet at asml.com. A transcript of management's opening remarks and a replay of the call will be available on our website shortly following the conclusion of this call.
Before we begin, I'd like to caution listeners that comments made by management during this conference call
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
