Applied Materials FQ4 outlook lowered on export regulations impact
Applied Materials (NASDAQ:AMAT) dips 1.4% during market after hours after providing outlook for FQ4 2022 ending Oct 30, 2022.
Company estimates that the new regulations regarding export for US semiconductor technology will reduce its fourth-quarter net sales by ~$400M, plus or minus $150M.
Net sales to be ~$6.4B (vs. consensus $6.67B), plus or minus $250M, which compares to the prior outlook of $6.65B, plus or minus $400M.
Non-GAAP EPS to be in the range of $1.54 to $1.78 (vs. consensus 2.01), which compares to the prior range of $1.82 to $2.18.
The revised EPS outlook includes the impact of lower expected revenue along with a preliminary estimated impact of ~$0.23 primarily for inventory and remanufacturing charges related to the new export regulations.