KLAC Q2 2023 Earnings Report — KLA Corporation Revenue & Financial Results | Market Cap Arena

KLA CorporationKLAC

Q2 2023 Earnings

Reported January 27, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$3.0B	$2.7B	$2.4B	9.5%	26.8%
Op. Income	$1.2B	$1.1B	$966M	8.0%	24.1%
Gross Margin	59.5%	61.8%	61.4%	-2.3pp	-1.9pp
Net Margin	32.8%	37.7%	30.5%	-4.9pp	2.3pp
EPS (Diluted)	$6.89	$7.20	$4.71	-4.3%	46.3%
Free Cash Flow	$595M	$927M	$746M	-35.9%	-20.3%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.8B
R&D Expenses	$333M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$243M
Other Expenses	$0
Operating Expenses	$576M
Cost & Expenses	$1.8B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$74M
Other Income/Expenses	-$56M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$164M
Net Income from Continuing Ops	$979M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$979M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$979M
D&A	$104M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.8B
R&D Expenses	$333M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$243M
Other Expenses	$0
Operating Expenses	$576M
Cost & Expenses	$1.8B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$74M
Other Income/Expenses	-$56M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$164M
Net Income from Continuing Ops	$979M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$979M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$979M
D&A	$104M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$979M
Depreciation & Amortization	$104M
Stock-Based Compensation	$38M
Deferred Income Tax	-$99M
Other Non-Cash Items	-$20M
Change in Working Capital	-$314M
OPERATING CASH FLOW	$688M
Capital Expenditure	-$94M
Acquisitions (Net)	$0
Purchases of Investments	-$319M
Sales/Maturities of Investments	$172M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$241M
Net Debt Issuance	-$200M
Common Stock Repurchased	-$355M
Common Dividends Paid	-$184M
Other Financing Activities	-$5M
NET CASH FROM FINANCING	-$711M
FREE CASH FLOW	$595M
Net Change in Cash	-$248M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$1.3B
Net Receivables	$2.4B
Inventory	$2.5B
Other Current Assets	$165M
TOTAL CURRENT ASSETS	$8.1B
PP&E (Net)	$1.1B
Goodwill	$2.3B
Intangible Assets	$1.1B
Long-Term Investments	$0
Tax Assets	$765M
Other Non-Current Assets	$391M
TOTAL NON-CURRENT ASSETS	$5.6B
TOTAL ASSETS	$13.7B
Account Payables	$530M
Short-Term Debt	$0
Deferred Revenue	$1.5B
Other Current Liabilities	$727M
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$6.1B
Deferred Revenue NC	$379M
Deferred Tax Liabilities	$559M
Other Non-Current Liabilities	$510M
TOTAL NON-CURRENT LIABILITIES	$7.6B
TOTAL LIABILITIES	$11.1B
Common Stock	$2.0B
Additional Paid-In Capital	$0
Retained Earnings	$670M
Treasury Stock	$0
Accum. Other Comp. Income	-$49M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$0
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$13.7B
Total Debt	$6.2B
Net Debt	$4.7B