Financial PerformanceICHR reported a mixed 1Q24, with revenue largely in line with estimates, while NG GM and EPS both fell short of the Street's expectations.
Management GuidanceManagement guided 2Q24 slightly below the Street's estimates for both the top and bottom line due to softness in the SiC gas panel business and the slower than expected EUV build rate through mid-year.
Market OutlookThe recovery of NAND, to which Ichor Holdings is overindexed, is expected to only start in mid-2025.