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← Dashboard / ASML / Apr 15, 2026
📊 View earnings presentation
📄 Source: Investing.com
⚡ Q/Q Change Highlights
  • Total net sales €8.77B vs €9.72B Q4 (-9.8% QoQ, +13% YoY) — within guidance; seasonal Q1 step-down
  • GM 53.0% (high end of guide) vs ~52% Q4; IBM sales €2.5B vs €2.13B Q4 (+17% QoQ)
  • FY26 outlook raised: sales €36–40B, GM 51–53%; Q2 guided €8.4–9.0B / GM 51–52%
  • EPS €7.15 basic; net income €2.8B (31.4% of sales); OM 36.0%
  • New systems 67 (vs 94 Q4) — fewer but higher-value EUV mix; buybacks ~€1.1B in Q1

🎙️ ASML — Apr 15, 2026

📄 Original Transcript

ASML Q1 2026 Earnings Call Transcript

Date: April 15, 2026 | Source: ASML (asml.com) / company press release

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Christophe Fouquet (President & CEO): Thank you, Jim. Welcome everyone and thank you for joining us for our first-quarter 2026 results conference call. Before we begin the Q&A session, Roger and I would like to provide an overview and some commentary on the first-quarter 2026 results as well as provide some additional comments on the current business environment and on our future business outlook. Roger?

Roger Dassen (CFO): Thank you, Christophe, and welcome everyone. I will first review the first-quarter 2026 financial accomplishments and then provide guidance on the second quarter of 2026. Let me start with our first-quarter accomplishments. In the first quarter of 2026, total net sales were €8.8 billion, which is within our guidance, and gross margin came in at 53.0%, at the high end of our guidance. Q1 total net sales of €8.8 billion, gross margin of 53.0%, net income of €2.8 billion. Net system sales were €6.3 billion, with Installed Base Management (IBM) sales of €2.5 billion. Operating margin came in at 36.0%, and net income as a percentage of total net sales was 31.4%, with basic earnings per share of €7.15. In the first quarter, we sold 67 new lithography systems and 12 used lithography systems.

On operating expenses, we came in as guided. R&D costs were approximately €1.2 billion. Turning to the balance sheet: we ended the first quarter with cash, cash equivalents and short-term investments at a level of €8.4 billion. In Q1 2026 we purchased shares for a total amount of around €1.1 billion.

Christophe Fouquet: Thank you, Roger. As Roger highlighted, we finished the first quarter with good financial results. We continue to see a strong year ahead and expect ASML to grow in 2026. Given the demand dynamics we are seeing, we now expect total net sales for 2026 to be between €36 billion and €40 billion, with a gross margin between 51% and 53%. For the second quarter of 2026, we expect total net sales between €8.4 billion and €9.0 billion, and a gross margin between 51% and 52%. With that we would be happy to take your questions.

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Key Q1 2026 Financials (from ASML press release)

  • Total net sales: €8.767B (within guidance; +13% YoY); Q4 2025 was €9.718B
  • Net system sales: €6.3B; Installed Base Management sales: €2.5B (Q4: €2.134B)
  • Gross margin: 53.0% (high end of guidance); operating margin 36.0%; net income €2.8B (31.4% of sales); EPS €7.15 basic
  • New lithography systems sold: 67 (Q4: 94); used systems sold: 12 (Q4: 8)
  • R&D costs ~€1.2B; cash & short-term investments €8.4B; ~€1.1B of shares purchased in Q1
  • Q2 2026 guidance: net sales €8.4–9.0B; gross margin 51–52%
  • FY26 outlook raised: total net sales €36–40B; gross margin 51–53%

📝 Summary

ASML — Q1 2026 (Apr 15, 2026). Sales €8.8B within guidance, GM 53.0% at high end; FY26 outlook raised to €36–40B on strong demand.

Results

  • Total net sales: €8.77B (within guidance; +13% YoY); net system sales €6.3B; IBM €2.5B (Q4 €2.13B)
  • GM 53.0% (high end); OM 36.0%; net income €2.8B (31.4% of sales); EPS €7.15 basic
  • New systems 67 (vs 94 Q4); used 12 (vs 8); R&D ~€1.2B; cash €8.4B; ~€1.1B share buybacks in Q1
  • Demand environment strong; lithography remains at the heart of customer innovation; AI-driven demand dynamics cited

Guidance

  • Q2 2026: Total net sales €8.4–9.0B; GM 51–52%
  • FY26 (raised): Total net sales €36–40B; GM 51–53%; continued growth expected in 2026
  • Expectation of increasing critical lithography exposures and IBM growth through the year

Capex / Capacity

  • ~€1.1B share buybacks in Q1 (dividend + buyback capital return program); cash €8.4B
  • Capacity expansion plans (EUV/DUV, High-NA) progressing per 2024 Investor Day model

Key Q&A

  • Management: "We continue to see a strong year ahead and expect ASML to grow in 2026" — outlook raised to €36–40B on demand dynamics
  • Strong execution: sales within guidance, GM at the high end, net income €2.8B despite the seasonally lower quarter

Notes

  • A clean, in-line-to-high-end quarter: GM 53% (high end), strong profitability (31.4% net margin) on seasonally lower sales; IBM (+17% QoQ) an important stabilizer
  • FY26 outlook raised to €36–40B (GM 51–53%) — the demand/order environment supports a second-half-weighted year
  • Watch: Q2 GM guide dip (51–52%), system-unit mix (fewer, higher-value EUV), and the trajectory toward the raised FY26 range
Auto-generated by 9 research agents · Aug 30, 2026 19:45 UTC · For informational purposes only, not investment advice.