ACM Research Guides 3Q Revenue to $360M-$365M
ACMR sits 88% above its 52-week low of $28.46.
Summary
ACM Research guided third-quarter revenue to $360M-$365M, a step up from the $292.9M it posted in Q2, and sees total shipments for the quarter at $335M-$340M. The revenue guidance implies roughly 23-25% sequential growth if the midpoint holds, well above the 36% year-over-year pace the company ran in Q2. The guidance lands after the subsidiary disclosed a $2.5 billion backlog as of September 29, which supports the higher top line, and preliminary third-quarter revenue topped forecasts. Watch the full Q3 release for gross margin, guided at 42-48% by ACM Shanghai, since net income and EPS fell in Q1 despite revenue growth.
At the time of this announcement, ACMR was trading at $53.55 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $28.46 to $127.19. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.