LONDON, UK / ACCESSWIRE / July 20, 2018 / If you want access to our free earnings report on ASML Holding N.V. (NASDAQ: ASML) ("ASML"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ASML. The Company reported its financial results on July 18, 2018, for the second quarter of the fiscal year 2018, ended July 01, 2018. The Company’s sales and gross margin were above expectations for Q2 FY18, including higher than forecasted EUV sales. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
It must be noted that ASML’s primary accounting standard for quarterly earnings releases and annual reports is US GAAP. However, the Company also reports financial figures in accordance with IFRS for statutory purposes. The most significant differences between US GAAP and IFRS that affect ASML concern the capitalization of certain product development costs and the accounting of income taxes. In this earnings summary, we have covered the financial statements on a US GAAP basis.
For Q2 FY18, ASML’s net sales reached €2.74 billion, reflecting an increase of 30.41% from €2.10 billion in Q2 FY17, led by strong sales across the Company’s full product portfolio. During the quarter under review, ASML’s net system sales increased 50.75% to €2.09 billion on a y-o-y basis, while its net service and field option sales fell 8.84% to €653.90 million on a y-o-y basis.
During Q2 FY18, ASML’s cost of sales was €1.55 billion, 34.51% higher than €1.15 billion in Q2 FY17. The Company’s gross profit advanced 25.40% to €1.19 billion in the reported quarter from €946.50 million in the previous year’s comparable quarter.
ASML incurred selling, marketing, and administrative expenses of €117.40 million in Q2 FY18, up 15.10% from €102 million in Q2 FY17. For the reported quarter, the Company’s research and development (R&D) expenses jumped 21.55% to €380.10 million on a y-o-y basis. ASML’s income from operations was €689.40 million in Q2 FY18 compared to €555.80 million in Q2 FY17, reflecting an increase of 24.04%.
ASML’s net income was €584 million in Q2 FY18, up 25.24% from €466.30 million in Q2 FY17. The Company’s net income per share also advanced 26.85% to €1.37 in Q2 FY18 from €1.08 in Q2 FY17.
ASML had cash and cash equivalents of €2.33 billion as on July 01, 2018, 21.50% higher than €1.91 billion as on July 02, 2017. The Company had a long-term debt of €3 billion at the end of Q2 FY8, reflecting a slight increase of 0.39% from Q2 FY17.
For the quarter ended July 01, 2018, ASML’s cash flow from operating activities were €759.10 million, representing an increase of 43.15% from €530.30 million in the comparable period of last year. The Company spent €125.60 million on the purchase of property, plant, and equipment in Q2 FY18 compared to €56.30 million in Q2 FY17, reflecting an increase of 123.09%.
ASML distributed dividends of €597.10 million in Q2 FY18, 15.56% higher than €516.70 million in Q2 FY17.
In January 2018, as part of ASML’s financial policy to return excess cash to shareholders through dividends and regularly-timed share buybacks, ASML announced its intention to purchase up to €2.50 billion of shares, to be executed within the 2018 – 2019 time frame. The Company now intends to cancel these shares after repurchase, with the exception of up to 2.40 million shares, which will be used to cover employee share plans. Through July 01, 2018, ASML has acquired 2.60 million shares under this program for a total consideration of €439 million.
For the third quarter of the fiscal year 2018, ASML expects net sales to be between €2.70 billion and €2.80 billion, and its gross margin to be between 47% and 48%. The Company anticipates R&D costs of about €395 million and SG&A costs of about €120 million for Q3 FY18.
Stock Performance Snapshot
July 19, 2018 - At Thursday’s closing bell, ASML’s stock fell 1.21%, ending the trading session at $215.26.
Volume traded for the day: 840.37 thousand shares, which was above the 3-month average volume of 838.95 thousand shares.
Stock performance in the last month – up 4.40%; previous three-month period – up 10.33%; past twelve-month period – up 42.91%; and year-to-date – up 23.84%
After yesterday’s close, ASML’s market cap was at $90.94 billion.
Price to Earnings (P/E) ratio was at 36.01.
The stock has a dividend yield of 0.80%.
The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry.
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