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ASML Q3 profit falls 7.9% YOY but beats estimates

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Investment Banking Essentials: February 21

ASML Q3 profit falls 7.9% YOY but beats estimates

ASML Holding NV said its third-quarter net income totaled €626.8 million, a decrease of 7.9% from €680.4 million in the year-earlier period.

EPS came in at €1.49, down 6.9% from the year-ago €1.60 but exceeding the S&P Global Market Intelligence consensus estimate of €1.45.

Net sales increased 7.6% on an annual basis to €2.99 billion from €2.78 billion, compared with the company's previous projection. Income from operations totaled €685.6 million, compared with €817.8 million in the year-earlier period.

On a quarterly basis, ASML reported bookings of €5.11 billion in the third quarter, up from €2.83 billion in the second quarter.

For the nine months through September, ASML's net income amounted to €1.46 billion, down from €1.80 billion on a yearly basis.

In reporting results, the company said it forecasts net sales of approximately €3.9 billion and a gross margin between 48% and 49% for the fourth quarter. The company also expects research and development costs to reach €500 million.

ASML also revised its capital return policy, with future dividend payments to be paid on a semiannual basis. An interim dividend of €1.05 per ordinary share for 2019 will be paid Nov. 15, the company said.