- We expect Frencken to report 4Q23 earnings of S$7m (-52% y-o-y/+0% q-o-q). Its recent positive results and the outlook of its semiconductor customers ASML and AMAT indicate that demand for semiconductor equipment is expected to improve in 2024, driven by strong order wins and higher PC, cloud and AI data centre spendings.
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Expect 4Q23 earnings to be flat q-o-q but potential upside surprise given the strong results and outlook of key customers.
- Frencken (SGX:E28) will be reporting its 2023 results on 27 Feb 24. We expect Frencken to report 4Q23 earnings of S$7m (-52% y-o-y/+0% q-o-q), but there could be potential upside surprise given that two of its key semiconductors customer, Applied Materials (AMAT) and Advanced Semiconductor Materials Lithography (ASML), have reported better-than-expected results.
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- Meanwhile, ASML’s 4Q23 revenue increased 12% y-o-y and 7% q-o-q while EPS rose 13% y-o-y and 8% q-o-q.
AMAT and ASML both indicating positive outlook for 2024.
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