Earnings To Watch: KLA Corporation (KLAC) Reports Q2 Results Tomorrow

Semiconductor manufacturing equipment maker KLA Corporation (NASDAQ:KLAC) will be reporting earnings this Thursday after market hours. Here’s what you need to know.

KLA Corporation beat analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $3.06 billion, up 29.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EPS estimates.

Is KLA Corporation a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting KLA Corporation’s revenue to grow 20% year on year to $3.08 billion, improving from the 9.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $8.55 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. KLA Corporation has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.

Looking at KLA Corporation’s peers in the semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Amkor delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 6.3%, and Teradyne reported a revenue decline of 10.7%, in line with consensus estimates. Amkor traded up 18.1% following the results.

Read our full analysis of Amkor’s results here and Teradyne’s results here.

There has been positive sentiment among investors in the semiconductors segment, with share prices up 4.6% on average over the last month. KLA Corporation is up 2.3% during the same time and is heading into earnings with an average analyst price target of $870.38 (compared to the current share price of $916.16).

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