Veeco Instruments (VECO) Beats Q1 Earnings and Revenue Estimates

By Zacks8 days ago

Veeco Instruments (VECO) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 13.64%. A quarter ago, it was expected that this precision manufacturing equipment maker would post earnings of $0.31 per share when it actually produced earnings of $0.30, delivering a surprise of -3.23%.

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Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Veeco, which belongs to the Zacks Electronics - Manufacturing Machinery industry, posted revenues of $133.71 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 6.94%. This compares to year-ago revenues of $104.5 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

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