ASMI lifts 2027 outlook, forecasts third-quarter revenue above estimates
ASM International's Upgraded Revenue Forecast and Market Drivers
By Ozan Ergenay
July 28 (Reuters) - ASM International on Tuesday forecast third-quarter revenue above market expectations and upgraded its 2027 sales outlook, buoyed by continued demand from customers investing in artificial intelligence infrastructure.
Third-Quarter Revenue Projections
The Dutch semiconductor equipment maker expects third-quarter revenue of about 1.1 billion euros ($1.25 billion) at constant exchange rates, plus or minus 5%, compared with analysts' average estimate of 994.5 million euros.
Impact of AI-Related Spending
AI-related spending has helped offset weakness in automotive, PC and memory markets.
Executive Commentary on Market Demand
"The demand environment remained highly favorable in the second quarter, driven by sustained investment in AI infrastructure to support rapidly expanding compute workloads," Chief Executive Hichem M'Saad said in a statement.
2027 Revenue Outlook and Analyst Reactions
ASMI said it now expects 2027 revenue to exceed the top end of its previously projected 3.7 billion to 4.6 billion euro range, citing higher wafer fab equipment spending and strong order growth.
Analyst Perspectives
"While the H2 outlook is above expectations, there is unlikely to be material upside to 2027 consensus estimates," analysts at Jefferies said.
Growth Expectations for the Second Half
Europe's second-largest semiconductor equipment maker also expects revenue to grow by more than 20% at constant currency in the second half of the year from 1.86 billion euros in the first half of 2026.
Key Growth Drivers
It said second-half growth is expected to be driven by strong demand for leading-edge logic and foundry services, solid memory growth and a recovery in power, analog and wafer markets.
Currency Exchange Rate
($1 = 0.8773 euros)
Reporting Details
(Reporting by Ozan Ergenay in Gdansk, editing by Matt Scuffham)
