iHub News
2月前
Five key themes for markets in the week aheadApril 13, 2026 6:45 AM
IH Market News
Geopolitics is taking centre stage at the start of the trading week, with a planned U.S. blockade of the Strait of Hormuz driving fresh volatility across markets. The move has pushed oil prices higher again, while upcoming inflation data and a busy earnings calendar could provide further direction for investors.
1. U.S. moves ahead with Hormuz blockade
The U.S. military has confirmed it will begin restricting maritime traffic linked to Iran through the Strait of Hormuz from 10 a.m. Eastern on Monday, following an order from President Donald Trump after weekend talks with Iran failed to yield progress.According to the Pentagon, vessels “entering or departing Iranian ports and coastal areas” will be targeted, while other ships transiting the strait will still be permitted to pass.The decision follows 21 hours of negotiations in Pakistan that ended without an agreement to extend a fragile two-week ceasefire. Vice President JD Vance, who led the U.S. delegation, said Iran rejected demands to halt its nuclear ambitions. Pakistan, acting as a mediator, urged both sides to “uphold their commitment to ceasefire.”Elsewhere, Israel and Lebanon are set to hold talks in Washington this week, although continued strikes on Hezbollah-linked targets have raised doubts about the durability of any broader regional truce.
2. Oil climbs back above $100
Crude prices surged again on Monday, breaking back above the $100 per barrel level.Brent crude rose 6.7% to $101.65, while U.S. West Texas Intermediate gained 7.1% to $103.42.Despite the rally, analysts at Pepperstone said the market response had been “relatively contained,” with investors interpreting the blockade largely as a negotiating tactic.“I’d not be at all surprised to see risk assets remain underpinned to a degree, with continued hope that a deal can be agreed likely to continue to encourage dip buying, even as crude benchmarks are likely to grind steadily higher as physical supply tightens further,” said Michael Brown, Senior Research Strategist at Pepperstone.Oil had dipped below $100 last week following the ceasefire announcement, which itself came after Trump warned Iran’s “civilization” could be destroyed if the Strait of Hormuz was not reopened. Even so, prices have remained well above pre-conflict levels.
3. U.S. producer price data in focus
Rising energy costs have heightened concerns about inflation globally and how central banks may respond.This week, attention will turn to U.S. producer price index (PPI) data for final demand, which will provide a clearer picture of price pressures in March—the first full month reflecting the impact of the Iran conflict.Recent consumer price data already showed a sharp increase, driven largely by higher fuel costs. Energy prices jumped 12.5% year-on-year, compared with just 0.5% in February.However, core inflation—which excludes food and energy—came in softer than expected, at 2.6% annually and 0.2% month-on-month.Given this, analysts believe the Federal Reserve may not place excessive weight on the headline figures alone. The upcoming PPI release could offer further clues on how policymakers approach interest rates in the months ahead.“A stronger-than-expected [PPI] reading would reinforce the case for a ‘higher for longer’ rate outlook, likely supporting the dollar and leaving EUR/USD’s recent rebound vulnerable to renewed downside,” said Laurence Booth, Global Head of Markets at CMC Markets.
4. Bank earnings take centre stage
The U.S. earnings season gathers pace this week, led by results from major Wall Street lenders.Goldman Sachs (NYSE:GS) is set to report first, with its shares up around 3% so far this year. Trading revenues have been supported by portfolio repositioning linked to developments in artificial intelligence, while its investment banking division has also delivered growth.However, the Iran conflict may weigh on outlooks. While volatility can boost trading income, elevated commodity prices could discourage dealmaking activity such as mergers and acquisitions, potentially affecting advisory revenues.Other banks reporting include JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS).Beyond banking, earnings are also expected from Netflix and PepsiCo.
5. European luxury sector results ahead
In Europe, attention will turn to the luxury sector, where several major groups are due to report.LVMH (EU:MC), owner of brands such as Louis Vuitton and Dior, is scheduled to release first-quarter sales, with geopolitical tensions likely to influence its outlook. Peers Kering SA (EU:KER) and Hermès (EU:RMS) are also set to report.According to Reuters, luxury sales in markets such as Dubai and Abu Dhabi have declined due to the conflict, weighing on the $400 billion sector.Elsewhere, ASML (NASDAQ:ASML) will report on Wednesday, with investors watching closely for updates on its ability to meet strong demand from artificial intelligence chipmakers.Goldman Sachs Group stock priceJPMorgan Chase stock priceWells Fargo stock priceCitigroup stock priceBank of America stock priceMorgan Stanley stock price
Original: Five key themes for markets in the week ahead
iHub News
4月前
Semiconductor Shares Poised to Drive Early Gains on Wall Street: Dow Jones, S&P, Nasdaq, FuturesJanuary 28, 2026 2:20 PM
IH Market News
U.S. equity futures pointed to a firmer open on Wednesday, setting the stage for stocks to build on gains from the previous two sessions, with semiconductor names once again expected to lead the advance.Chip-related stocks were among the strongest performers on Tuesday, and that momentum looked set to continue in early trading. U.S.-listed shares of ASML (NASDAQ:ASML) jumped about 5% in premarket action after the Dutch semiconductor equipment group delivered strong fourth-quarter results and issued upbeat guidance for 2026.Elsewhere in the sector, South Korea’s SK Hynix surged in overseas trading after the memory chipmaker reported better-than-expected fourth-quarter earnings and posted a record full-year profit for 2025.Sentiment also received a boost from a Reuters report indicating that China has approved purchases of Nvidia’s (NASDAQ:NVDA) H200 artificial intelligence chips by some of the country’s largest technology groups. Nvidia shares rose around 1.6% in premarket trading. Citing four people familiar with the matter, Reuters said Alibaba (NYSE:BABA), ByteDance and Tencent have been cleared to buy more than 400,000 H200 chips in total.Overall trading volumes may remain relatively light, however, as investors look ahead to the Federal Reserve’s monetary policy decision later in the day. While the central bank is widely expected to keep interest rates unchanged, markets will be watching the voting breakdown and accompanying statement for clues on the future path of rates.Attention will also turn to earnings after the closing bell, with tech heavyweights Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META) and Tesla (NASDAQ:TSLA) all due to report quarterly results.On Tuesday, the major U.S. indexes finished mixed. The Nasdaq and the S&P 500 pushed higher, while the Dow Jones Industrial Average retreated sharply. The Nasdaq climbed 215.74 points, or 0.9%, to a near three-month closing high of 23,817.10, and the S&P 500 added 28.37 points, or 0.4%, to end at a record 6,978.60. In contrast, the Dow fell 408.99 points, or 0.8%, to close at 49,003.41, despite recovering from deeper losses earlier in the session.Strength in the broader market reflected optimism ahead of earnings from major technology companies, including Microsoft, Apple (AAPL) and Meta Platforms. Microsoft shares rose 2.2%, Apple gained 1.1%, and Meta edged modestly higher.Positive sentiment was also supported by upbeat results from companies such as General Motors (NYSE:GM) and UPS (NYSE:UPS). On the downside, the Dow was weighed down by a sharp sell-off in UnitedHealth (NYSE:UNH), whose shares plunged 19.6% after the insurer issued disappointing revenue guidance despite posting slightly better-than-expected fourth-quarter earnings. A Trump administration proposal calling for near-flat rates for Medicare Advantage insurers also pressured the sector.In economic data, the Conference Board reported an unexpectedly steep drop in U.S. consumer confidence in January. Its consumer confidence index fell to 84.5 from an upwardly revised 94.2 in December, confounding expectations for a rise to 90.0 and marking the lowest reading since May 2014.Sector-wise, semiconductor stocks posted a strong rally, with the Philadelphia Semiconductor Index surging 2.4% to a new record closing high. Computer hardware and networking stocks also advanced, helping lift the tech-heavy Nasdaq. Outside of technology, oil service stocks rose sharply alongside crude prices, pushing the Philadelphia Oil Service Index up 2.0%. By contrast, healthcare, airline and housing stocks came under notable selling pressure.ASML Holding stock priceNvidia stock priceMicrosoft stock priceMeta stock priceTesla stock priceUnited Parcel Service stock priceUnitedHealth Group stock price
Original: Semiconductor Shares Poised to Drive Early Gains on Wall Street: Dow Jones, S&P, Nasdaq, Futures
iHub News
4月前
Fed Call and Earnings Wave Take Center Stage as Markets Brace for Volatility: Dow Jones, S&P, Nasdaq, Wall Street FuturesJanuary 28, 2026 10:28 AM
IH Market News
U.S. equity futures were mostly higher early Wednesday as investors positioned cautiously ahead of a packed session featuring a key Federal Reserve policy decision and a heavy slate of corporate earnings. The Fed is widely expected to keep interest rates unchanged, while several mega-cap technology groups are set to report results after U.S. markets close. Elsewhere, gold climbed to yet another all-time high, and reports said China has approved purchases of Nvidia’s H200 artificial intelligence chips for the first time.
S&P 500 and Nasdaq futures advance
Futures tied to major U.S. indices were trading modestly in positive territory, reflecting guarded optimism ahead of the day’s events.By 02:49 ET, Dow futures were up 37 points, or 0.1%, S&P 500 futures had gained 28 points, or 0.4%, and Nasdaq 100 futures were higher by 249 points, or 1.0%.Wall Street closed mixed on Tuesday as investors digested a wave of quarterly earnings. Sentiment was dented by a sharp drop in UnitedHealth (NYSE:UNH), after the healthcare group warned that 2026 revenue would be lower following a federal proposal for a smaller-than-expected increase in Medicare Advantage premiums. The move weighed on the broader health insurance space, with CVS Health (NYSE:CVS) and Humana (NYSE:HUM) both suffering double-digit losses.By the close, the Dow Jones Industrial Average had fallen 0.8%. However, relative strength in technology and automotive stocks helped support the broader S&P 500 and the Nasdaq Composite.Beyond earnings, investors were also monitoring the risk of a partial U.S. government shutdown amid political backlash over fatal shootings involving immigration enforcement agents in Minneapolis, alongside renewed tariff threats from President Donald Trump.Adding to the cautious tone, U.S. consumer confidence sank in January to its lowest level in 12 years, according to data from the Conference Board, highlighting growing unease among households despite an economy that remains resilient but constrained by high inflation and soft hiring.
Fed decision in focus
Against this backdrop, policymakers at the Federal Reserve are expected to leave interest rates unchanged at the conclusion of their meeting later today.Last year, the central bank delivered a series of rate cuts to support a cooling labour market, bringing borrowing costs into a range of 3.5% to 3.75%. Since then, relatively low layoffs and inflation still well above the Fed’s 2% target have reduced the urgency for further easing.As a result, attention is likely to turn to Chair Jerome Powell’s guidance on the future path of rates, particularly after the Fed’s December meeting revealed deep divisions among officials over how policy should evolve. Markets currently do not expect the next rate cut until June.Investors are also closely watching developments around the leadership of the Fed. Powell, whose term as chair ends in May, is facing a criminal investigation launched earlier this month by the Trump administration. Powell has denied any wrongdoing and described the probe as a politically motivated attempt to undermine the Fed’s independence. Trump has repeatedly criticised Powell for not cutting rates more aggressively, arguing that faster easing would help stimulate growth.Although Powell has received support from members of Trump’s Republican Party, it remains unclear whether he will remain on the Fed’s rate-setting board after his term ends. Trump has reportedly been speaking with potential successors, with prediction markets currently viewing BlackRock executive Rick Rieder as the leading candidate.
Earnings deluge
Earnings season remains a dominant theme, with investors facing a flood of results, particularly from large technology companies.After the U.S. market closes, attention will turn to reports from Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT) and Tesla (NASDAQ:TSLA). These updates are expected to offer fresh insight into the sustainability of the artificial intelligence boom, which has become a major driver of equity markets and, potentially, broader economic growth.Big technology groups have been investing heavily in AI infrastructure, fuelling strong demand for advanced semiconductors and data centres. Reinforcing expectations that this trend could extend into 2026, Europe’s largest listed company, ASML (NASDAQ:ASML), reported stronger-than-expected fourth-quarter bookings and said orders continue to increase.Earlier in the day, investors will also parse earnings from AT&T (NYSE:T), Starbucks (NASDAQ:SBUX) and energy equipment maker GE Vernova (NYSE:GEV).
Gold sets another record
Gold prices surged to a new record above $5,200 an ounce on Wednesday, supported by strong demand for safe-haven assets and continued weakness in the U.S. dollar.Other precious metals remained elevated, with silver and platinum trading close to recent highs. The cautious mood ahead of the Fed decision has underpinned demand for havens.Gold has risen around 20% so far in 2026, building on last year’s strong gains. Heightened geopolitical tensions — including developments in Venezuela and a dispute involving Greenland — alongside uncertainty over U.S. policy have been key drivers of the rally.A weaker dollar has further boosted metals prices. The greenback slid to a near four-year low this week after Trump signalled on Tuesday that he was unconcerned by the currency’s decline, prompting additional selling.
China clears purchases of Nvidia’s H200 chips – reports
China has approved the purchase of an initial batch of Nvidia’s (NASDAQ:NVDA) H200 artificial intelligence chips, according to media reports.Authorities have reportedly authorised major domestic technology groups — including ByteDance, Alibaba and Tencent — to buy more than 400,000 H200 chips combined, as Beijing seeks to support its ambitions in artificial intelligence while balancing efforts to bolster domestic chip production.The first round of approvals could be worth around $10 billion, with other companies still awaiting clearance. According to the Wall Street Journal, firms seeking approval were required to submit detailed explanations outlining how the chips would be used.The move comes as Nvidia chief executive Jensen Huang has been visiting China, after previously receiving approval from the Trump administration to begin H200 sales to Chinese customers. Nvidia shares rose more than 1% in extended trading following the reports.UnitedHealth Group stock priceCVS Health stock priceHumana stock priceMeta stock priceMicrosoft stock priceTesla stock priceASML Holding stock priceAT&T stock priceStarbucks stock priceGE Vernova stock priceNvidia stock price
Original: Fed Call and Earnings Wave Take Center Stage as Markets Brace for Volatility: Dow Jones, S&P, Nasdaq, Wall Street Futures
abrooklyn
2年前
ASML reports €6.2 billion total net sales and €1.6 billion net income in Q2 2024
Source: GlobeNewswire Inc.
ASML reports €6.2 billion total net sales and €1.6 billion net income in Q2 2024
ASML continues to expect 2024 total net sales to be similar to 2023, supported by a strong second half year
VELDHOVEN, the Netherlands, July 17, 2024 – Today, ASML Holding NV (ASML) has published its 2024 second-quarter results.
Q2 total net sales of €6.2 billion, gross margin of 51.5%, net income of €1.6 billion
Quarterly net bookings in Q2 of €5.6 billion2 of which €2.5 billion is EUV
ASML expects Q3 2024 total net sales between €6.7 billion and €7.3 billion and a gross margin between 50% and 51%
(Figures in millions of euros unless otherwise indicated) Q1 2024 Q2 2024
Total net sales 5,290 6,243
...of which Installed Base Management sales1 1,324 1,482
New lithography systems sold (units) 66 89
Used lithography systems sold (units) 4 11
Net bookings2 3,611 5,567
Gross profit 2,697 3,212
Gross margin (%) 51.0 51.5
Net income 1,224 1,578
EPS (basic; in euros) 3.11 4.01
End-quarter cash and cash equivalents and short-term investments 5,406 5,019
(1) Installed Base Management sales equals our net service and field option sales
(2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted.
Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com
CEO statement and outlook
"Our second-quarter total net sales came in at €6.2 billion, at the high-end of our guidance, with a gross margin of 51.5% which is above guidance, both primarily driven by more immersion systems sales.
"In line with previous quarters, overall semiconductor inventory levels continue to improve, and we also see further improvement in litho tool utilization levels at both Logic and Memory customers. While there are still uncertainties in the market, primarily driven by the macro environment, we expect industry recovery to continue in the second half of the year.
"We expect third-quarter total net sales between €6.7 billion and €7.3 billion with a gross margin between 50% and 51%. ASML expects R&D costs of around €1,100 million and SG&A costs of around €295 million. Our outlook for the full year 2024 remains unchanged. We see 2024 as a transition year with continued investments in both capacity ramp and technology. We currently see strong developments in AI, driving most of the industry recovery and growth, ahead of other market segments," said ASML President and Chief Executive Officer Christophe Fouquet.
Update dividend and share buyback program
An interim dividend of €1.52 per ordinary share will be made payable on August 7, 2024.
In the second quarter, we purchased €96 million worth of shares under the current 2022-2025 share buyback program.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML's website (www.asml.com/investors).
Media Relations contacts Investor Relations contacts
Monique Mols +31 6 5284 4418 Skip Miller +1 480 235 0934
Sarah de Crescenzo +1 925 899 8985 Marcel Kemp +31 40 268 6494
Karen Lo +886 939788635 Peter Cheang +886 3 659 6771
Quarterly video interview and investor call
With this press release, ASML has published a video interview in which CEO Christophe Fouquet discusses the 2024 second-quarter results and outlook for 2024. This video and the transcript can be viewed on www.asml.com.
An investor call for both investors and the media will be hosted by CEO Christophe Fouquet and CFO Roger Dassen on July 17, 2024 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.
About ASML
ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 43,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.
US GAAP and IFRS Financial Reporting
ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP Consolidated Statements of Operations, Consolidated Statements of Cash Flows and Consolidated Balance Sheets are available on www.asml.com.
The Consolidated Balance Sheets of ASML Holding N.V. as of June 30, 2024, the related Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the quarter and six-month period ended June 30, 2024 as presented in this press release are unaudited.
Today, July 17, 2024, ASML also published its Statutory Interim Report for the six-month period ended June 30, 2024. This report is in accordance with the requirements of the EU Transparency Directive as implemented in the Netherlands, and includes Condensed Consolidated Interim Financial Statements prepared in accordance with IAS 34 as adopted by the European Union 'Interim Financial Reporting', an Interim Management Report and a Managing Directors' Statement and is available on www.asml.com.
Regulated information
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Forward Looking Statements
This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets and business environment trends, expected demand, lithography tool utilization and intensity, semiconductor inventory levels, bookings, backlog, expected recovery and growth in the semiconductor industry and expected drivers and timing thereof including expected continued industry recovery in the second half of 2024, plans to add and improve capacity, continued investments in both capacity ramp and technology, outlook and expected financial results, including expected results for Q3 2024, including net sales, IBM sales, gross margin, R&D costs, SG&A costs, outlook for the second half and full year 2024, including expected strong second half of 2024 and expectations with respect to full year 2024 total net sales, gross margin and estimated annualized effective tax rate, expectations with respect to sales by market segment and IBM sales and expected drivers thereof, and other full year 2024 expectations, expectations with respect to expected financial performance and growth in 2025 and expected drivers thereof, statements made at our 2022 Investor Day, including revenue and gross margin opportunity for 2025 and 2030, statements with respect to export control policy and regulations and expected impact on us, statements with respect to continued execution of ESG sustainability strategy, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, statements with respect to our share buyback program, including the amount of shares intended to be repurchased thereunder and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans and other non-historical statements. You can generally identify these statements by the use of words like “may”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic environment on the semiconductor industry, uncertainty around a market recovery, the impact of inflation, interest rates, geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, constraints and logistics, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, constraints on our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings, the risk of order cancellation or push outs and restrictions on shipments of ordered systems under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase programs, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2023 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law.
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abrooklyn
2年前
ASML reports €5.3 billion total net sales and €1.2 billion net income in Q1 2024
Source: GlobeNewswire Inc.
ASML reports €5.3 billion total net sales and €1.2 billion net income in Q1 2024
2024 outlook unchanged
VELDHOVEN, the Netherlands, April 17, 2024 – Today, ASML Holding NV (ASML) has published its 2024 first-quarter results.
Q1 total net sales of €5.3 billion, gross margin of 51.0%, net income of €1.2 billion
Quarterly net bookings in Q1 of €3.6 billion2 of which €656 million is EUV
ASML expects Q2 2024 total net sales between €5.7 billion and €6.2 billion, and a gross margin between 50% and 51%
ASML expects 2024 total net sales to be similar to 2023
(Figures in millions of euros unless otherwise indicated) Q4 2023 Q1 2024
Total net sales 7,237 5,290
...of which Installed Base Management sales1 1,555 1,324
New lithography systems sold (units) 113 66
Used lithography systems sold (units) 11 4
Net bookings2 9,186 3,611
Gross profit 3,717 2,697
Gross margin (%) 51.4 51.0
Net income 2,048 1,224
EPS (basic; in euros) 5.21 3.11
End-quarter cash and cash equivalents and short-term investments 7,010 5,406
(1) Installed Base Management sales equals our net service and field option sales
(2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted.
Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com
CEO statement and outlook
"Our first-quarter total net sales came in at €5.3 billion, at the midpoint of our guidance, with a gross margin of 51.0% which is above guidance, primarily driven by product mix and one-offs.
"We expect second-quarter total net sales between €5.7 billion and €6.2 billion with a gross margin between 50% and 51%. ASML expects R&D costs of around €1,070 million and SG&A costs of around €295 million. Our outlook for the full year 2024 is unchanged, with the second half of the year expected to be stronger than the first half, in line with the industry's continued recovery from the downturn. We see 2024 as a transition year with continued investments in both capacity ramp and technology, to be ready for the turn in the cycle," said ASML President and Chief Executive Officer Peter Wennink.
Update dividend and share buyback program
ASML intends to declare a total dividend for the year 2023 of €6.10 per ordinary share, which is a 5.2% increase compared to 2022. Recognizing the three interim dividends of €1.45 per ordinary share paid in 2023 and 2024, this leads to a final dividend proposal to the Annual General Meeting of €1.75 per ordinary share.
In the first quarter, we purchased around €400 million worth of shares under the current 2022-2025 share buyback program.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML's website (www.asml.com/investors).
Media Relations contacts Investor Relations contacts
Monique Mols +31 6 5284 4418 Skip Miller +1 480 235 0934
Sarah de Crescenzo +1 925 899 8985 Marcel Kemp +31 40 268 6494
Karen Lo +886 939788635 Peter Cheang +886 3 659 6771
Quarterly video interview and investor call
With this press release, ASML has published a video interview in which CFO Roger Dassen discusses the 2024 first-quarter results and outlook for 2024. This video and the transcript can be viewed on www.asml.com.
An investor call for both investors and the media will be hosted by CEO Peter Wennink, CFO Roger Dassen and incoming CEO Christophe Fouquet on April 17, 2024 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.
About ASML
ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 42,700 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.
US GAAP Financial Reporting
ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP Consolidated Statements of Operations, Consolidated Statements of Cash Flows and Consolidated Balance Sheets are available on www.asml.com.
The Consolidated Balance Sheets of ASML Holding N.V. as of March 31, 2024, the related Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the quarter and three months ended March 31, 2024 as presented in this press release are unaudited.
Regulated information
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Forward Looking Statements
This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets and business environment trends, including expected demand, lithography tool utilization, semiconductor inventory levels, bookings and order coverage at certain bookings levels, expected recovery in the semiconductor industry and expected turn in the cycle and expected timing thereof, plans to increase capacity, outlook and expected financial results, including expected results for Q2 2024, including net sales, IBM sales, gross margin, R&D costs, SG&A costs, expected results for full year 2024, including expectations with respect to revenue and gross margin and estimated annualized effective tax rate, expectations with respect to sales by market segment, EUV, DUV and IBM sales and margins and expected drivers thereof, and other full year 2024 expectations, expectations with respect to expected financial performance in 2025 and expected drivers thereof, statements made at our 2022 Investor Day, including revenue and gross margin opportunity for 2025 and 2030, statements with respect to export control policy and regulations and expected impact on us, our expectation to return significant amounts of cash to shareholders through growing dividends and share buybacks, including the amount of shares intended to be repurchased under our share repurchase program and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans and other non-historical statements. You can generally identify these statements by the use of words like “may”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “opportunity” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, customer demand and semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic uncertainty on the semiconductor industry, the impact of inflation, interest rates, geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, constraints and logistics, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, constraints on our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings, the risk of order cancellation or push outs and restrictions on shipments of ordered systems under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and services to certain customers, changes in exchange and tax rates, available liquidity and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase programs, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2023 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law.
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