Intevac (NASDAQ:IVAC) Updates Q2 2024 Earnings Guidance

Intevac (NASDAQ:IVAC) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of -0.220–0.200 for the period, compared to the consensus earnings per share estimate of -0.050. The company issued revenue guidance of $7.5 million-$8.5 million, compared to the consensus revenue estimate of $15.0 million.

Intevac Stock Up 7.3 %

Shares of IVAC stock opened at $4.39 on Friday. Intevac has a 52-week low of $3.07 and a 52-week high of $6.48. The company has a 50-day simple moving average of $3.83 and a two-hundred day simple moving average of $3.89.

Intevac (NASDAQ:IVAC) last released its earnings results on Thursday, April 25th. The electronics maker reported ($0.10) earnings per share for the quarter. Intevac had a negative net margin of 19.52% and a negative return on equity of 8.17%. The company had revenue of $9.63 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Intevac from a hold rating to a sell rating in a research report on Friday.

Intevac Company Profile

Intevac, Inc, together with its subsidiaries, engages in the designing, developing, and manufacturing thin-film processing systems in the United States, Europe, and Asia. It designs, develops, and markets vacuum process equipment solutions for manufacturing small substrates with precise thin-film properties, such as hard disk drive, advanced coatings, and other adjacent thin-film markets.