ASML Holding N.V. Q1 2026 Earnings Recap

ASML delivered a robust Q1 2026 with EUR 8.8 billion in revenue and a record-high gross margin of 53%, supported by strong Installed Base performance amid rising demand for EUV and immersion lithography. The company maintains its optimistic outlook, targeting EUR 36–40 billion in 2026, driven by expanding capacity investments from semiconductor OEMs.

Key Takeaways

• Q1 net sales hit EUR 8.8 billion, with EUR 2.5 billion from Installed Base, exceeding expectations and boosting gross margin to 53%.
• Full-year 2026 guidance raised to EUR 36–40 billion, reflecting strong EUV/Deep UV demand and increasing non-EUV sales.
• Customer investments in memory and logic are accelerating, with strong capacity expansion plans for 2026 and beyond to meet AI-driven semiconductor demand.
• Capex focus on increasing EUV Low NA output to at least 80 units in 2027, with continued upgrades to existing systems for capacity and efficiency.
• Technology advancements include a 1,000-watt EUV source demo, securing Low NA EUV extendibility to 2031, alongside throughput improvements for short-term capacity.