The strong Q1 beat and above-seasonal Q2 guidance confirm the demand recovery thesis in automotive, industrial, and AI infrastructure. With 5 consecutive quarters of double-digit YoY growth and expanding margins, the stock should re-rate higher. Monitor the Q2 earnings call for updates on fab utilization ramp (Scotland/South Portland) and further margin expansion toward the 3-year targets of $2B revenue and $4+ non-GAAP EPS.
Price Chart
Executive Summary
Diodes reported Q1 2026 results with revenue of $405.5M (+22.1% YoY) and non-GAAP EPS of $0.43, a 126% YoY increase from $0.19. The company guided Q2 2026 revenue to ~$435M (+/-3%) and non-GAAP EPS of $0.60 (+/-$0.10), implying 18.8% YoY revenue growth and continued margin expansion. The strong beat on the prior quarter's guidance and raised sequential outlook signal sustained demand recovery in automotive, industrial, and AI-server markets.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $405.5M, +22.1% YoY and +3.5% sequentially, above typical seasonal decline of 5%
- Non-GAAP EPS $0.43, up from $0.19 YoY (+126%) and $0.34 in Q4 2025
- GAAP gross margin 31.8%, up 70 bps sequentially and 30 bps YoY
- Q2 2026 guidance: revenue ~$435M (+/-3%), GAAP gross margin 32.8% (+/-1%), non-GAAP EPS $0.60 (+/-$0.10)
- Automotive + industrial combined 44% of product revenue, up 2 ppts sequentially
- Operating cash flow $64.3M, free cash flow $32.4M; cash + short-term investments $409M, total debt $55M
- Fifth consecutive quarter of double-digit YoY revenue growth; highest % increase since Q4 2021
Financial Impact
Revenue beat prior guidance midpoint of ~$422M by 3.5%; Q2 guidance midpoint of $435M implies 18.8% YoY growth and 7.3% sequential growth
Risk Factors
- Cyclical semiconductor downturn could reverse demand recovery
- Customer qualification timelines for new fabs may extend into 2027-2028, delaying utilization improvements
- Foreign currency losses ($3.4M in Q1) and equity investment impairments could persist
- Memory shortage and softer notebook/motherboard demand may weigh on computing segment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-219765 |
| Document: diod-20260507.htm | 0001193125-26-219765 |
| Document: 0001193125-26-219765-index-headers.html | 0001193125-26-219765 |
| Document: 0001193125-26-219765-index.html | 0001193125-26-219765 |
| Document: 0001193125-26-219765.txt | 0001193125-26-219765 |
| 8-K Data (Synthetic) | 0001193125-26-219765 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 18, 2026 6w ago | 8-K | $94.32 $90.27 | ▼ −4.29% | ▼ −2.78% | $104.74 (+11.05%) |
Aug 15, 2026 6w ago | Institutional Cluster | $107.56 $90.27 | ▼ −16.07% | ▼ −14.10% | $104.74 (−2.62%) |
Jul 28, 2026 9w ago | 8-K | $76.09 $90.54 | ▲ +18.99% | ▲ +13.97% | $104.74 (+37.65%) |
Jul 14, 2026 11w ago | 8-K | $95.13 $103.15 | ▲ +8.43% | ▲ +5.94% | $104.74 (+10.10%) |
Jun 1, 2026 17w ago | Insider Cluster | $101.96 $109.44 | ▲ +7.34% | ▲ +8.63% | $104.74 (+2.73%) |
May 27, 2026 18w ago | Insider Cluster | $109.89 $104.14 | ▲ +5.23% | ▲ +2.09% | $104.74 (+4.69%) |
May 27, 2026 18w ago | Insider Cluster | $109.89 $104.14 | ▼ −5.23% | ▼ −2.09% | $104.74 (−4.69%) |
May 21, 2026 19w ago | Insider Cluster | $96.30 $123.38 | ▲ +28.12% | ▲ +27.79% | $104.74 (+8.76%) |
May 19, 2026 19w ago | Insider Cluster | $93.75 $108.80 | ▼ −16.05% | ▼ −15.07% | $104.74 (−11.72%) |
May 12, 2026 20w ago | 8-K | $101.96 $106.84 | ▲ +4.79% | ▲ +5.40% | $104.74 (+2.73%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access