Today ASML Holding NV (ASML) has published its 2022 third-quarter results.
Q3 net sales of EUR5.8 billion, gross margin of 51.8%, net income of EUR1.7 billion
Record quarterly net bookings in Q3 of EUR8.9 billion2
ASML expects Q4 2022 net sales between EUR6.1 billion and EUR6.6 billion and a gross margin around 49%
Expected sales for the full year EUR21.1 billion at the midpoint of the Q4 guidance
The value of fast shipments in 2022 leading to delayed revenue recognition into 2023 is expected to be around EUR2.2 billion
CEO statement and outlook
'Our third-quarter net sales came in at EUR5.8 billion with a gross margin of 51.8% - above our guidance. There is uncertainty in the market due to a number of global macro-economic concerns including inflation, consumer confidence and the risk of a recession. While we are starting to see diverging demand dynamics per market segment, the overall demand for our systems continues to be strong. This resulted in record bookings in the third quarter of around EUR8.9 billion of which EUR3.8 billion is EUV, including High-NA systems.
We are continuing to assess and follow the new US export control regulations. Based on our initial assessment, the new restrictions do not amend the rules governing lithography equipment shipped by ASML out of the Netherlands and we expect the direct impact on ASML's overall 2023 shipment plan to be limited.
'ASML expects fourth-quarter net sales between EUR6.1 billion and EUR6.6 billion with a gross margin around 49%. ASML expects R&D costs of around EUR880 million and SG&A costs of around EUR265 million. For the full year, we expect revenue of EUR21.1 billion with a gross margin approaching 50%,' said ASML President and Chief Executive Officer Peter Wennink.
Products and business highlights
In our DUV business, we shipped the first TWINSCAN NXT: 2100i to a customer. This newest immersion scanner enables over 20% improvement of on-product overlay.
Several customers have adopted Alignment Optimization 12 Color as process-of-record for their leading nodes. It improves wafer alignment by generating and measuring twelve wavelengths (or colors) instead of just four, ensuring a more robust alignment that reduces wafer-to-wafer overlay variation by over 20% when combined with scanner modeling improvements and alignment optimization software.
In our EUV High-NA business, we received additional orders for the TWINSCAN EXE:5200; all current EUV customers have now submitted orders for High-NA.
Update share buyback program and quarterly dividend
In the third quarter we purchased around EUR1.0 billion worth of shares under the current 2021-2023 share buyback program. Details of this program as well as transactions pursuant thereto are published on ASML's website (www.asml.com/investors). We completed our current share buyback program.
On November 11, 2022 we will hold our Investor Day where we will provide an update on our long-term business plan, including any new share buyback program.
An interim dividend of EUR1.37 per ordinary share will be made payable on November 14, 2022. Full details are published on ASML's website.
Contact:
Skip Miller
Tel: +1 480 235 0934
ASML HOLDING N.V. 
