TES Co (095610) Q1 2026 earnings summary

Executive summary

• Core business is manufacturing semiconductor process equipment, with over 95% of sales from this segment.

• Q1 2026 consolidated revenue was KRW 97.2 billion, operating income KRW 22.2 billion, and net income KRW 24.6 billion.

• Domestic sales accounted for 96% and overseas 4%; main customers are large Korean semiconductor firms.

Financial highlights

• Q1 2026 revenue: KRW 97.2 billion, up from KRW 84.5 billion in Q1 2025.

• Operating income: KRW 22.2 billion (Q1 2025: KRW 16.3 billion); net income: KRW 24.6 billion (Q1 2025: KRW 15.9 billion).

• Gross margin improved to 30.5% from 27.2% year-over-year.

• Basic EPS: KRW 1,382 (Q1 2025: KRW 904).

• Cash and cash equivalents at period end: KRW 67.2 billion.

Outlook and guidance

• The semiconductor equipment industry is expected to grow with ongoing demand from AI, big data, and automotive sectors.

• Company expects continued growth driven by R&D and customer diversification.