Outbreak of the epidemic! ASML cuts first quarter financial estimates and suspends second quarter stock repurchase program
On March 30, ASML, a leading global lithography machine manufacturer, announced that the first quarter revenue was much lower than expected due to the global outbreak of new crown pneumonia. It is expected that the first quarter revenue will be between 2.4 billion and 2.5 billion euros (26.7 US $ 2 billion to US $ 2.78 billion), lower than previously expected revenue of between 3.1 billion and 3.3 billion euros. In addition, ASML will also suspend the second quarter stock repurchase program.
ASML also said that due to some delivery issues, some unrecognized revenue in the first quarter will be transferred to the second and third quarters of this year. ASML said it will not make any share buybacks in the second quarter of 2020, after the company repurchased approximately 507 million euros in the first quarter.
"Despite the challenges, we are still able to continue ASML's operations. Due to the uncertainty of New Crown Pneumonia, ASML has decided not to conduct any stock repurchases in the second quarter of 2020." ASML mentioned.
An ASML spokesperson said, "The current pandemic of new pneumonia affects all of us. Our main goal is to do our best to ensure the safety of our employees and their families, and our second goal is to ensure our business and our Business continuity of our customers, suppliers and partners so that we can all continue to serve the end market. We will continue to closely monitor the situation and will publish a detailed first quarter 2020 earnings report on April 15. "
ASML also said that due to some delivery issues, some unrecognized revenue in the first quarter will be transferred to the second and third quarters of this year. ASML said it will not make any share buybacks in the second quarter of 2020, after the company repurchased approximately 507 million euros in the first quarter.
"Despite the challenges, we are still able to continue ASML's operations. Due to the uncertainty of New Crown Pneumonia, ASML has decided not to conduct any stock repurchases in the second quarter of 2020." ASML mentioned.
An ASML spokesperson said, "The current pandemic of new pneumonia affects all of us. Our main goal is to do our best to ensure the safety of our employees and their families, and our second goal is to ensure our business and our Business continuity of our customers, suppliers and partners so that we can all continue to serve the end market. We will continue to closely monitor the situation and will publish a detailed first quarter 2020 earnings report on April 15. "