Ichor Holdings sees Q4 revenue $300M-$302M, consensus $335M

Commenting on the announcement, Jeffrey Andreson, chief executive officer, said "As we progressed through the fourth quarter, it became evident that the areas of weakness in wafer fab equipment, particularly those related to memory spending, have resulted in further reductions in near-term demand from our customers. As a result, we are currently witnessing quarter-over-quarter revenue declines that are modestly higher than what we were expecting a couple of months ago. With our current visibility, we expect first quarter 2023 revenues to be in the range of $210 to $240 million. At this time, we do not expect similar levels of sequential declines beyond the first quarter. During this period, we will continue to demonstrate our ability to manage the cost structure of the business through the cycles and deliver solid financial results and cash flow generation. We look forward to providing an update on our Q4 earnings call in early February."