Photronics, Inc. Earnings Recaps
Q1 2026
Feb 27, 2026
Photronics reported a solid first quarter for fiscal 2026 with revenue of $225 million, a 4% sequential increase, driven by strong demand in the high-end integrated circuit (IC) market, particularly ahead of the Chinese New Year.
Key takeaways
- High-end IC revenue reached a record $71 million, growing 19% year-over-year, contributing to overall IC revenue of $165 million (up 7% YoY).
- Gross margin improved to 35%, benefiting from increased revenue and a greater share of high-end products.
- Diluted GAAP EPS was $0.74, while non-GAAP diluted EPS came in at $0.61, reflecting robust operational cash flow of $97 million.
- Capital expenditures for the quarter totaled $48 million, reaffirming a full-year CapEx guidance of $330 million to support strategic expansions.
- Continued investment in technology and regionalization of semiconductor manufacturing positions Photronics to capture emerging high-end opportunities.
Q4 2025
Dec 10, 2025
Photronics reported strong Q4 results with $216 million in sales, driven by record high-end IC revenue, while capitalizing on operational strengths for future growth.
Key takeaways
- Q4 non-GAAP diluted EPS reached 60¢, surpassing guidance amid a 3% sequential sales increase.
- High-end IC revenue set a record at 42% of total IC revenue, reflecting robust demand, particularly in the U.S.
- The company is expanding production capabilities in Texas and Korea, targeting enhanced exposure to advanced semiconductor nodes.
- Gross margin improved to 35%, bolstered by a favorable product mix despite mainstream IC revenue challenges.
- Demand for FPD masks is rebounding, with expectations for strong performance in Q1 fiscal 2026.