ASM International (ASM) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached €1,003 million, surpassing guidance and marking a new quarterly record, driven by strong demand in leading-edge logic/foundry, robust HBM DRAM growth, and solid mature logic/foundry sales in China.

• Maintains over 55% ALD market share and expanding Epi presence, supported by R&D and global investments.

• Strong sustainability progress with 100% renewable electricity since 2024 and industry-leading ESG performance.

• Company maintains a positive outlook for 2027, expecting revenue to exceed the previous €4.6 billion guidance.

Financial highlights

• Q2 revenue up 24% year-over-year and 15% sequentially; equipment sales rose 22% year-over-year at constant currency.

• Gross margin reached 51.9% in Q2, with adjusted operating margin at 33.0%.

• Adjusted net earnings rose to €292.9 million, up €120 million year-over-year.

• Free cash flow hit a record €355 million; cash position at €1,180 million.

• Spares & Services grew 34% year-over-year; Logic Foundry accounted for 77% of H1 equipment sales, Memory 15%.

Outlook and guidance

• Q3 2026 revenue projected at €1,100 million +/- 5% at constant currency.

• H2 2026 revenue expected to rise over 20% versus H1, driven by leading-edge logic/foundry, memory, and initial 1.4nm node contributions.

• 2027 revenue now expected to exceed previous €4.6 billion guidance, driven by strong demand in advanced nodes and memory.