FormFactor (FORM) To Report Earnings Tomorrow: Here Is What To Expect

FormFactor (FORM) To Report Earnings Tomorrow: Here Is What To Expect

Semiconductor testing company FormFactor (NASDAQ:FORM) will be reporting earnings tomorrow afternoon. Here's what to look for.

FormFactor beat analysts' revenue expectations by 1.7% last quarter, reporting revenues of $168.7 million, flat year on year. It was a decent quarter for the company, with optimistic revenue guidance for the next quarter but a miss of analysts' EPS estimates.

Is FormFactor a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting FormFactor's revenue to grow 25.1% year on year to $195 million, a reversal from the 23.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 per share.

FormFactor Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FormFactor has missed Wall Street's revenue estimates twice over the last two years.

Looking at FormFactor's peers in the semiconductor manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Amkor posted flat year-on-year revenue, meeting analysts' expectations, and Teradyne reported revenues up 6.6%, topping estimates by 4.1%. Teradyne traded down 13.2% following the results.

Read our full analysis of Amkor's results here and Teradyne's results here.

Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. 2024 has been a bumpier ride as the market switches between optimism and pessimism around rate cuts thanks to mixed inflation data, and while some of the semiconductor manufacturing stocks have fared somewhat better, they have not been spared, with share prices down 4.1% on average over the last month. FormFactor is down 14.6% during the same time and is heading into earnings with an average analyst price target of $59.9 (compared to the current share price of $52.05).

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