TOELF - Tokyo Electron: Q1 2024 Recovery After 2 Years Of Underperformance
2024-06-03 12:47:45 ET
Summary
- Tokyo Electron showed it is on its way to a recovery in 2024 following two years of underperforming peers.
- TEL held a dominant share of Dielectric Etch, a 90% share of resist coating systems, and is the #3 company in the global semiconductor industry.
- Tokyo Electron demonstrated significant QoQ growth in Q1 2024 and is expected to see double-digit growth in the wafer fabrication equipment market in 2025.
For the fiscal year ending March 31, 2024, Tokyo Electron Limited ( OTCPK:TOELY ) ("TEL") reported consolidated net sales of ¥1,830.5 billion ($16.6 billion USD), reflecting a decline from the previous year's net sales of ¥2,553.3 billion. Despite this reduction, the company maintained strong profitability. The operating income for the same period was ¥422.1 billion ($3.8 billion USD), reflecting a solid operating margin of 23%....
Tokyo Electron: Q1 2024 Recovery After 2 Years Of Underperformance