Ultra Clean reports Q4 adjusted EPS 19c, consensus 12c

Reports Q4 revenue $444.8M, consensus $444.84M. “UCT executed well in the fourth quarter with results coming in as expected despite a dynamic business environment,” said Jim Scholhamer, CEO. “As the semiconductor equipment inventory adjustment cycle remains fluid, we will continue to implement measures to synchronize our worldwide operations with our customers’ forecasts to ensure we have the flexibility and capacity to meet future demand. These efforts are creating long-lasting value to our customers and will increase UCT’s leading position within the industry over the long-term.” “We are pleased with the execution of our plan to optimize our capital deployment strategy throughout 2023,” said Sheri Savage, CFO. “Generating $136 million in cash from operations enabled us to invest for future growth, pay down $39 million in debt, spend $29 million re-purchasing shares, and complete the strategic acquisition of HIS Innovations Group.”