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MKS Instruments (NASDAQ:MKSI) easily beat market estimates in its fourth quarter 2023 financial results, but fell during post-market trading Wednesday.
It reported earnings per share of $1.17 and revenue of $893M, which shattered the consensus estimates of $0.84 per share on revenue of $844.48M.
MKS shares were down 3% to $105 following the release of its financial results.
Earnings per share for the quarter in progress were $0.09 below analysts estimates.
Looking ahead to the first quarter, MKS expects revenue of $840M, give or take $40M, compared to the consensus estimate of $852M, and earnings per share of $0.72 versus the expectation of $0.81.
“We believe our broad portfolio of proprietary and foundational solutions puts us in pole position to capture a wide array of opportunities when end market conditions improve,” said MKS CEO John T.C. Lee.
MKS produces semiconductors for a range of applications spanning from health care to defense.
On Tuesday, MKS Instruments declared a $0.22 per share quarterly dividend. It’s payable for shareholders of record on Feb. 26 and others on March 8.