Ultra Clean Holdings (UCTT) Company Report

Ultra Clean Holdings (UCT) reported Q3 2025 revenue of $510 million and earnings per share (EPS) of $0.28, with a notable improvement in gross margins to 17%.
For Q4 2025, the company projects revenue to be between $480 million and $530 million and EPS in the range of $0.11 to $0.31.
New CEO James Xiao, in his first 60 days, is focusing on strengthening profitability, optimizing the global footprint, and positioning UCT for long-term growth, including migrating non-Chinese customer manufacturing out of China.
UCT renewed its share repurchase program for an additional three-year term, authorizing up to $150 million in repurchases with a maximum of $50 million per year, and repriced its Term B loan, lowering the interest rate margin by 50 basis points.
The company anticipates outgrowing wafer fab equipment (WFE) growth in calendar 2026, driven by strong long-term semiconductor market fundamentals, despite near-term volatility and reduced visibility.

Oct 28, 2025, 8:45 PM

Transcript

UCT Reports Q3 2025 Results, Provides Q4 Guidance, and Announces Leadership Transition

UCTT

Earnings

Guidance Update

CEO Change

UCT reported Q3 2025 non-GAAP revenue of $510 million and earnings per share (EPS) of $0.28, with gross margins improving to 17%.
For Q4 2025, the company projects revenue between $480 million and $530 million and EPS in the range of $0.11 to $0.31.
James Zhao has assumed the role of CEO, succeeding Clarence Granger, who is stepping down as Chairman.
UCT renewed its share repurchase program for up to $150 million over three years and repriced its Term B loan to optimize its capital structure.
The company is implementing a comprehensive transformation to enhance agility and profitability, including organizational flattening, business system streamlining, and tariff recovery efforts, and expects to outgrow Wafer Fab Equipment (WFE) growth in 2026.

Oct 28, 2025, 8:45 PM

Transcript

Ultra Clean Holdings Inc. Reports Q3 2025 Results and Provides Q4 Guidance

UCTT

Earnings

Guidance Update

Share Buyback

Ultra Clean Holdings Inc. (UCT) reported Q3 2025 revenue of $510 million and earnings per share (EPS) of $0.28, and provided Q4 2025 revenue guidance between $480 million and $530 million with EPS guidance in the range of $0.11 to $0.31.
The company renewed its share repurchase program for an additional three-year term, authorizing up to $150 million in repurchases with a maximum of $50 million per year, and repriced its Term B loan, lowering the interest rate margin by 50 basis points.
James Zhao, the new CEO, emphasized strengthening profitability and optimizing the global footprint. UCT substantially completed organizational flattening and integrated its SAP business system into the Fluid Solutions group, while also migrating non-Chinese customer manufacturing out of China.
Despite near-term volatility and reduced visibility, UCT anticipates outgrowing WFE growth in calendar 2026, driven by long-term semiconductor market demand from AI and high-performance computing.

Oct 28, 2025, 8:45 PM

Transcript

Ultra Clean Holdings Reports Q3 2025 Results and Announces Share Repurchase Program

UCTT

Earnings

Guidance Update

Share Buyback

Ultra Clean Holdings, Inc. reported Q3 2025 total revenue of $510.0 million, with a GAAP net loss of $(10.9) million or $(0.24) per diluted share, and non-GAAP net income of $12.9 million or $0.28 per diluted share.
For Q4 2025, the company anticipates revenue in the range of $480 million to $530 million, GAAP diluted net income (loss) per share between $(0.11) and $0.09, and non-GAAP diluted net income per share between $0.11 and $0.31.
The Board of Directors approved a share repurchase program on October 23, 2025, authorizing the purchase of up to $150 million of common stock over a three-year period.

Oct 28, 2025, 8:43 PM

8-K

Ultra Clean Holdings Reports Third Quarter 2025 Financial Results and Provides Q4 2025 Outlook

UCTT

Earnings

Guidance Update

Ultra Clean Holdings, Inc. reported total revenue of $510.0 million for the third quarter ended September 26, 2025, with a GAAP net loss of $(10.9) million or $(0.24) per diluted share.
On a non-GAAP basis, the company achieved net income of $12.9 million and $0.28 per diluted share for Q3 2025, driven by its highest gross margins for the year at 17.0%.
CEO James Xiao stated that AI-enabled high-performance computing remains the central force behind semiconductor innovation despite near-term volatility.
For the fourth quarter of 2025, the company expects revenue in the range of $480 million to $530 million and non-GAAP diluted net income per share between $0.11 and $0.31.

Oct 28, 2025, 8:05 PM

Press Release

Ultra Clean Holdings, Inc. Amends Credit Agreement

UCTT

Debt Issuance

Ultra Clean Holdings, Inc. (UCTT) executed an Eighth Amendment to its Credit Agreement on September 15, 2025.
Barclays Bank PLC serves as the administrative agent for the amended Credit Agreement, with HSBC Securities (USA) Inc. and Sumitomo Mitsui Banking Corporation acting as joint lead arrangers and bookrunners.
The amendment specifically addresses SeventhEighth Amendment Replacement Term Loans and SeventhEighth Amendment Replacement Term B Commitment, which constitute the sole class of Term Loans and Term B Lenders as of the amendment's effective date.
The Credit Agreement includes financial covenants, such as the Consolidated Total Gross Leverage Ratio and Consolidated Fixed Charge Coverage Ratio, with specified targets for various fiscal quarters through December 31, 2024.

Sep 16, 2025, 8:08 PM

8-K

Ultra Clean Technology Reports Q2 2025 Financial Results and Provides 2025 Guidance

UCTT

Earnings

Guidance Update

Layoffs

For Q2 2025, Ultra Clean Technology reported total revenue of $518.8 million compared to $518.6 million in the prior quarter, and earnings per share (EPS) of $0.27 on net income of $12.1 million.
The company projects total revenue for 2025 to be between $480 million and $530 million, with EPS in the range of $0.14 to $0.34.
Operating expenses decreased to $56.1 million in Q2 2025 from $59.4 million in Q1 2025, reflecting cost reduction initiatives including significant workforce reductions in April and July.
The company repurchased 182,000 shares at a cost of $3.4 million during the quarter as part of its repurchase program.
A goodwill impairment charge was recorded due to the company's stock price decline, which lowered the carrying value of goodwill below the market capitalization.

Jul 30, 2025, 4:55 PM

Ultra Clean Holdings Reports Q1 2025 Financial Results

UCTT

Earnings

Demand Weakening

Guidance Update

Q1 2025 Revenue & Breakdown: Total revenue reached $518.6M (down from $553.3M in the prior quarter) with $457.0M from products and $61.6M from services .
EPS & Earnings: GAAP EPS declined to $0.28 from $0.51 with a GAAP net loss of $(0.5)M; on a non-GAAP basis, the company generated $12.7M net income (or $0.28 per diluted share) .
Guidance: Q2 expected revenue is forecasted between $475M and $525M .
Tariff & Supply Chain Impact: The company is managing uncertain tariff impacts causing order pushouts, with significant tariff costs on customer-specified components expected to be passed on to customers .
Cost Optimization: In response to a prolonged downturn, Ultra Clean is reducing costs—including headcount and footprint reductions—to adjust from an anticipated $4B run rate to $2B, aiming to protect profitability .

Apr 28, 2025, 8:46 PM

Transcript Press Release

[Ultra Clean Announces CEO Transition, Interim Appointment and Strategic Focus]

UCTT

CEO Change

Management Change

Jim Scholhamer resigned as CEO effective March 4, 2025 due to personal health reasons, triggering an immediate leadership change
Clarence Granger, Chairman and founding CEO, has been named Interim CEO while the board launches a search for a permanent replacement, considering both internal and external candidates
The leadership team remains committed to operational excellence and ensuring business continuity during the transition
The company will maintain its China for China strategy by continuing operations at its Shanghai facility despite near-term equipment challenges

Mar 5, 2025, 9:05 PM

Transcript Press Release 8-K

Ultra Clean Holdings Inc Q4 & Full Year 2024 Financial Results and Q1 2025 Guidance

UCTT

Earnings

Guidance Update

Revenue Acceleration/Inflection

Demand Weakening

Q4 2024 Financial Highlights: Total revenue of $563.3M, GAAP net income of $16.3M, with non-GAAP net income of $22.9M and EPS of $0.51 .
Full Year 2024 Performance: Revenue reached $2,097.6M and GAAP net income of $23.7M, reversing prior losses .
Q1 2025 Guidance: Revenue expected between $505M–$555M and EPS guidance of $0.22–$0.42, alongside ongoing cost and capital structure reviews .
Product & Services Breakdown: Products generated $503.5M at a 15.2% gross margin while Services contributed $59.8M at a 29.8% gross margin .
Operational Efficiency: Operating expenses declined as a percentage of revenue despite a slight contraction in product gross margins due to shipment mix .
China Market Exposure: Approximately $40M in Q4 and $215M for the full year, with near-term softness expected in Q1 and Q2 .

Feb 24, 2025, 9:05 PM

Transcript Presentation Press Release 8-K

Earnings Transcripts

Quarterly earnings call transcripts for Ultra Clean Holdings.

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