Axcelis Technologies (ACLS) stock surged 10.75% in pre-market trading on Tuesday, following the release of its impressive second-quarter financial results and optimistic third-quarter guidance.
The company reported Q2 adjusted earnings per share of $1.13, significantly beating the IBES estimate of $0.73. Revenue for the quarter came in at $194.544 million, surpassing the expected $185.1 million. Axcelis also posted strong profitability metrics, with a net income of $31.376 million and a gross profit of $87.343 million for the quarter.
Adding to the positive sentiment, Axcelis provided an upbeat outlook for the third quarter. The company anticipates Q3 revenue of $200 million, exceeding the consensus estimate of $186.47 million. Additionally, Axcelis projects Q3 earnings per share of $0.87, further fueling investor optimism and contributing to the stock's pre-market rally.