ASML Holding N.V. Q1 2026 Earnings Recap

ASML delivered a robust Q1 2026 with EUR 8.8 billion in revenues and a net income of EUR 2.8 billion, driven by strong Installed Base sales and high gross margins amidst record demand for advanced lithography solutions.

Key Takeaways

• Q1 revenue within guidance at EUR 8.8B, with Installed Base revenue exceeding expectations at EUR 2.5B, contributing to a 53% gross margin.
• Anticipated FY 2026 revenues revised upward to EUR 36–40B, supported by surging demand across EUV and non-EUV segments, and strong capacity additions.
• Market momentum remains solid, fueled by persistent AI-driven demand, with customers actively expanding capacity into 2027 and beyond.
• ASML plans to sustain capacity growth, targeting at least 60 EUV Low NA systems in 2026 and up to 80 units in 2027, alongside capacity enhancements in deep UV and immersion lithography.
• Technological progress includes demonstration of 1,000-watt EUV sources and throughput improvements, ensuring extendibility and capacity ramp-up through 2028+ amid advancing High NA platform development.