Veeco updates Q4 and 2024 guidance
Veeco Instruments has updated its financial guidance for Q4 and the full year 2024 due to the market penetration of its SiC epitaxy technology, acquired in 2023 "not meeting expectations".
Q4 2024 will be between $175 to $185 million, compared to its prior guidance of $165 to $185 million. Full year 2024 revenue is now expected in the range of $710 to $720 million.
GAAP diluted earnings per share for the fourth quarter of 2024 is expected to be between $0.09 and $0.28, compared to prior guidance of $0.18 to $0.27, while non-GAAP diluted earnings per share is expected between $0.36 to $0.44, compared to prior guidance of $0.35 to $0.45.
Full year 2024 GAAP diluted earnings per share is expected in the range of $1.07 to $1.26, while Non-GAAP diluted earnings per share is expected in the range of $1.69 to $1.76.
