Ichor Holdings (ICHR) Q2 2025 Earnings
How Did ICHR Stock React to Q2 2025 Earnings?
S&P 500 over the same 30 days: +3.07%.
Did ICHR Beat Earnings? Q2 2025 Results
No. Ichor Holdings reported Q2 2025 earnings of $0.03 a share on Aug 4, 2025, missing the $0.14 consensus estimate by 79.0%. Revenue was $240.3M against a $234.5M estimate.
Ichor Holdings delivered a mixed second quarter for 2025, beating on revenue while falling well short on earnings as one-time restructuring costs weighed heavily on the bottom line. The company posted revenue of $240.28 million, clearing the $234.51 million consensus estimate by 2.46% and marking 18.2% growth year over year, yet non-GAAP diluted EPS of $0.03 missed the $0.14 consensus by 79.01%, sending shares sharply lower. The primary culprit was $4.30 million in operating-level charges tied to the exit of Ichor's Scotland facility, which included inventory write-offs, lease impairments, accelerated depreciation, and severance, compressing GAAP gross margins to 11.3% and widening the net loss to $9.41 million. Free cash flow swung to negative $14.80 million as accounts payable declined and capital spending continued. Looking ahead, management guided Q3 revenue of $225 million to $245 million with non-GAAP EPS of $0.06 to $0.18, projecting improved profitability as Scotland-related costs fade, while CEO Jeff Andreson expressed confidence that Ichor will outperform wafer fab equipment industry growth for the full year.
- Revenue above midpoint of prior guidance range
- 18.2% year-over-year revenue growth driven by semiconductor capital equipment demand
- Expansion of proprietary product portfolio
- Non-GAAP operating margin expanded to 2.6% from 2.2% year-over-year
“Within a relatively steady customer demand environment year-to-date, we continue to make progress driving the expansion of our proprietary product portfolio.”
Ichor Holdings CEO, on the earnings call
What Was Ichor Holdings's Outlook in Q2 2025?
For Q3 2025, Ichor guided revenue of $225 million to $245 million (midpoint $235 million), GAAP diluted EPS of $(0.12) to $0.00 (midpoint $(0.06)), and non-GAAP diluted EPS of $0.06 to $0.18 (midpoint $0.12). The non-GAAP outlook excludes approximately $2.1 million in amortization of intangible assets and approximately $4.4 million in share-based compensation expense. Management expects 2025 to be a solid revenue growth year and anticipates outperforming the expected growth of the wafer fab equipment industry.
ICHR YoY Financials
| Metric | Q2 2025 | Q2 2024 | Year over year |
|---|---|---|---|
| Revenue | $240.3M | $203.2M | +18.2% |
| Gross Profit | $27.2M | $25.6M | +6.4% |
| Net Income | −$9.4M | −$58.9M | −84.0% |
Figures from SEC filings and company reports. Not investment advice.