Shares declined 2.6% following earnings despite revenue growth, reflecting investor concerns over cautious outlook nuances and margin pressures implied in the commentary.
- Semiconductor revenue grew 28% year-over-year and 19% sequentially, driven by broad-based strength in deposition, etch, RF power, and vacuum subsystems.
- Electronics and Packaging revenue surged 44% year-over-year and 19% sequentially, with AI-driven demand boosting both laser drilling systems and proprietary chemistry sales.
- Specialty Industrial segment improved 14% year-over-year and 8% sequentially, led by datacom and defense end markets.
- Management emphasized capacity expansions and working capital increases to meet accelerating demand, signaling potential margin headwinds.
- Q3 Semiconductor and Electronics and Packaging outlook remains positive but includes caution on flex market seasonality and ongoing elevated investment levels.
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