Shares of semiconductor equipment maker Axcelis Technologies Inc. (ACLS) plummeted 11.53% in intraday trading on Tuesday, following the company's disappointing revenue guidance for the first quarter of 2025.
Axcelis expects revenue of around $185 million for Q1 2025, significantly lower than analysts' consensus estimate of $221.59 million. The company's earnings per share guidance of $0.38 for the current quarter also missed market expectations, raising concerns about its near-term performance.
While Axcelis reported solid earnings for Q4 2024, beating estimates on the bottom line, its weak revenue outlook for Q1 2025 rattled investors. Despite posting a year-over-year decline in Q4 revenue, the company's CFO expressed optimism about Axcelis' long-term prospects, citing secular growth opportunities in the semiconductor industry.
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