KLAC Q1 2023 Earnings Report — KLA Corporation Revenue & Financial Results | Market Cap Arena

KLA CorporationKLAC

Q1 2023 Earnings

Reported October 28, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$2.7B	$2.5B	$2.1B	9.6%	30.7%
Op. Income	$1.1B	$972M	$819M	14.3%	35.7%
Gross Margin	61.8%	60.6%	61.0%	1.1pp	0.8pp
Net Margin	37.7%	32.4%	51.3%	5.3pp	-13.6pp
EPS (Diluted)	$7.20	$5.40	$6.96	33.3%	3.4%
Free Cash Flow	$927M	$746M	$795M	24.3%	16.7%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.7B
R&D Expenses	$319M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$254M
Other Expenses	$0
Operating Expenses	$572M
Cost & Expenses	$1.6B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$74M
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$44M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$102M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.7B
R&D Expenses	$319M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$254M
Other Expenses	$0
Operating Expenses	$572M
Cost & Expenses	$1.6B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$74M
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$44M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$102M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$102M
Stock-Based Compensation	$35M
Deferred Income Tax	-$156M
Other Non-Cash Items	$3M
Change in Working Capital	$2M
OPERATING CASH FLOW	$1.0B
Capital Expenditure	-$84M
Acquisitions (Net)	$44M
Purchases of Investments	-$276M
Sales/Maturities of Investments	$259M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$58M
Net Debt Issuance	-$369M
Common Stock Repurchased	-$90M
Common Dividends Paid	-$188M
Other Financing Activities	-$55M
NET CASH FROM FINANCING	-$701M
FREE CASH FLOW	$927M
Net Change in Cash	$234M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$1.1B
Net Receivables	$2.0B
Inventory	$2.4B
Other Current Assets	$180M
TOTAL CURRENT ASSETS	$7.6B
PP&E (Net)	$1.0B
Goodwill	$2.3B
Intangible Assets	$1.1B
Long-Term Investments	$0
Tax Assets	$662M
Other Non-Current Assets	$368M
TOTAL NON-CURRENT ASSETS	$5.5B
TOTAL ASSETS	$13.1B
Account Payables	$480M
Short-Term Debt	$0
Deferred Revenue	$1.4B
Other Current Liabilities	$657M
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$6.3B
Deferred Revenue NC	$434M
Deferred Tax Liabilities	$558M
Other Non-Current Liabilities	$498M
TOTAL NON-CURRENT LIABILITIES	$7.9B
TOTAL LIABILITIES	$11.0B
Common Stock	$1.0B
Additional Paid-In Capital	$0
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$59M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$13.1B
Total Debt	$6.4B
Net Debt	$4.6B