KLA Corporation (KLAC) Q4 2023 Earnings Call Transcript

For the period ending June 30, 2023

July 27, 2023 6:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon. My name is Chelsea, and I will be your conference operator today. At this time, I would like to welcome everyone to the KLA Corporation June Quarter 2023 Earnings Conference Call and Webcast. All participant lines have been placed in a listen-only mode to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. And I will now turn the call over to Kevin Kessel, Vice President of Investor Relations and Market Analytics. Please go ahead, sir.

Kevin Kessel

Thank you for joining us for our earnings call to discuss the results of the June 2023 quarter and our September quarter outlook. Joining me is our CEO, Rick Wallace; and our CFO, Bren Higgins.

During this call, we will discuss our results released today after the market close along with supplemental materials that are all available on our IR website. Today’s discussion is presented on a non-GAAP financial basis unless otherwise specified. Whenever we make full-year references, they relate to calendar years.

A detailed reconciliation of GAAP to non-GAAP results is in the earnings materials posted on our website. Our IR website also contains future investor events as well as presentations, corporate governance information and links to our SEC filings, including our most recent Annual Report and Quarterly Reports on Forms 10-K and 10-Q. Our comments today are subject to risks and uncertainties reflected in the Risk Factors disclosure in our SEC filings.

Any forward-looking statements, including those we make on the call today, are subject to those risks, and KLA cannot guarantee those forward-looking statements will come true. Our actual results may differ significantly from those projected in our forward-looking statements.

Rick, will begin the call with some comments and quarterly highlights. Bren, will conclude with our financial highlights, including our guidance and outlook.

I will now turn the call over to our CEO, Rick Wallace. Rick?

Rick Wallace

Thank you, Kevin. Let’s start with a summary of KLA’s performance in the quarter, along with a few highlights. Further color and detail on my comments and the semiconductor demand environment can be found in our shareholder letter released earlier today. KLA’s June quarter results exceeded expectations and demonstrated consistent execution, despite a challenging marketplace.