ACM Research Raises 2024 Outlook

Dow Jones

01-14

By Dean Seal

ACM Research lifted its 2024 revenue guidance and forecast more topline growth in the new year.

The developer of wet processing technology and products for the semiconductor industry said it now expects $755 million to $770 million in full-year revenue, up from an outlook of $725 million to $745 million that it gave in November.

ACM is also projecting $850 million to $950 million in revenue for 2025. Analysts surveyed by FactSet had been forecasting $897.9 million.

Shares rose 4.5% to $16.19 in premarket trading.

Chief Executive David Wang said the company expects its customers in mainland China to keep investing in production capacity, and for new U.S. component export restrictions to be manageable.

ACM is set to provide final fourth-quarter and 2024 financial results in late February.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 14, 2025 06:35 ET (11:35 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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