Q4 2024 KLA Corp Earnings Call Transcript
Key Points
- KLA Corp (KLAC) reported June quarter revenue, gross margin, and EPS all above their respective guidance midpoints.
- The company saw strong customer demand and solid execution, with signs of a strengthening market environment.
- KLA Corp (KLAC) raised its estimate for advanced packaging revenue to more than $500 million for 2024, up from a previous estimate of $400 million.
- The service business grew to $614 million in the June quarter, a 4% sequential increase and 14% year-over-year growth.
- Quarterly free cash flow was $832 million, with a free cash flow margin of 31% over the last 12 months.
- Operating expenses were high at $553 million, including $324 million in R&D and $229 million in SG&A.
- Gross margin for the September quarter is forecasted to be lower at 61.5%, plus or minus one percentage point, due to weaker anticipated product mix.
- The company faces risks and uncertainties that could impact forward-looking statements, as highlighted in their disclosures.
- The memory market is expected to see a slower recovery, with less bullish expectations for flash memory into 2025.
- The revenue guidance range for the September quarter is wider than usual, indicating potential variability and uncertainty in revenue projections.
Pleas e stand by for streaming text.
All right? No, no, no. Hello, 908st full quarter. All right. And in process right now, going forward, at least a doctor appropriate will begin momentarily.
No, good afternoon. My name is David, and I'll be your conference operator today. At this time, I would like to welcome everyone to the KLA Corporation June quarter 2024 Earnings Conference Call and Webcast. All participants have been placed in a listen-only mode to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.
I would like to ask a question at that time, please press star one on your telephone keypad. If you would like to remove yourself from the queue, please press star two. Please limit yourself to one question and one follow-up. Lastly, if you should need operator assistance, please press star zero.
Thank you. I will now turn the call over to Kevin Kessel, Vice President of Investor Relations and Market Analytics. Please go ahead.
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