Semiconductor company ASML Holding NV (NASDAQ:ASML) is expected to report a year-over-year decline in both its profits and sales when it hands down its first quarter earnings on Wednesday, April 17.
Wall Street analysts, on average, see the Dutch chipmaker's earnings per share decreasing by a whopping 46.3% to US$2.85 as sales are seen dropping more than 20% to US$5.73 billion.
The company itself has guided to Q1 sales in the range of €5.0 billion (US$5.34 billion) and €5.5 billion (US$5.84 billion), with gross margins between 48% and 49% compared to 50.6% in the year-ago quarter.
Back in January, the company said it expects 2024 to be a “transition year” as the semiconductor industry continues to work through the bottom of the cycle.
Shares of ASML traded hands at about $971.50 on Tuesday, having gained about 35% in the year to date.