ASM International (ASMIY) Q1 2026 Earnings Call Transcript
Date: April 22, 2026 | Source: ASM International (asm.com) / company press release
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Hichem M'Saad (President & CEO): We delivered a strong start to the year, with Q1 2026 revenue of €863 million reaching the high end of our guidance range of €830 million +/-4%. Revenue was up 16% year-over-year at constant currency, with equipment sales growing 14% year-over-year and spares & services growing 23% year-over-year at constant currency. We anticipate revenue in the second half of 2026 to be higher than in the first half.
CFO / management (results summary):
- Q1 2026 revenue: €863M (high end of guidance €830M ±4%); +16% YoY at constant currency
- Gross margin: 53.3% in Q1 2026, supported by a favorable product- and customer mix
- Adjusted operating result: €286M; adjusted operating result margin increased to a quarterly record of 33.1%
- Adjusted net earnings: €246M in Q1 2026 (vs €192M in Q1 2025), an increase of €54 million year-on-year, supported by improved operating performance
- Spares & services revenue: €186.8M, +23% YoY at constant currency (down ~11% QoQ constant currency)
- Capex: €38M in Q1 2026
- Q1 2026 was the first quarter reflecting the investment in ASMPT (22.7% stake)
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Key Q1 2026 Financials (from ASM press release / investor presentation)
- Revenue: €863M (high end of €830M ±4% guidance; +16% YoY cc); equipment sales +14% YoY; spares & services €186.8M (+23% cc YoY)
- Gross margin: 53.3% (favorable product/customer mix)
- Adjusted operating result: €286M; adjusted operating margin 33.1% (quarterly record)
- Adjusted net earnings: €246M (vs €192M Q1 2025, +€54M YoY)
- Capex: €38M; Q1 2026 includes first-time consolidation/investment in ASMPT (22.7%)
- Management: H2 2026 revenue anticipated higher than H1