Ichor Holdings Reports Third Quarter Profit Growth Amid Increasing Cash Burn
Ichor Holdings (ICHR) reported a significant turnaround in its fiscal third quarter, swinging to a GAAP profit of $20.9 million compared to a loss of $22.9 million in the prior year. This performance was driven by a 37% year-over-year increase in revenue, reaching $328.7 million, as higher sales volumes helped spread fixed manufacturing costs across more units. Despite the earnings beat, the company faces challenges with liquidity. Free cash flow dropped to negative $39.5 million due to rising inventory levels and a surge in unpaid customer receivables. While management expects continued sales growth in the fourth quarter, GAAP earnings guidance remains flat at a midpoint of $0.55 per share, suggesting that future profitability may depend heavily on adjusted figures rather than GAAP metrics.
Coverage
- EuroDry swings to profit as shipping rates surge, beating estimates
- Bitgo Holdings, Inc. GAAP EPS of $0.36 beats by $0.40, revenue of $2.85B
- Unity shares surge after first GAAP profit since IPO
- Ichor Holdings Reports Third Quarter Profit Growth Amid Increasing Cash Burn
- Roku Reports Third Quarter Profit Surge Driven by Advertising Growth