The Q2 beat and Q3 guidance above consensus (implied Q3 revenue ~$243-252M vs $223M consensus) are positive catalysts, but supply constraints and capacity tightness create execution risk. Watch for updates on CPO mass production readiness and WiseEye smart glasses ramp in coming quarters. The proposed divestiture gain of $23-24M (expected Q4 close) provides a non-operating tailwind.
Price Chart
Executive Summary
Himax reported Q2 2026 revenue of $227.4M (above guidance of 10-13% QoQ growth), gross margin of 33.1% (above ~32% guidance), and EPS of $0.114 (above $0.086-0.103 guidance). Q3 guidance calls for 7-11% QoQ revenue growth, ~34% gross margin, and $0.08-0.10 EPS. The beat was driven by better-than-expected automotive IC sales, but the stock faces headwinds from industry-wide supply constraints and capacity tightness at mature process nodes. The strong Q2 beat and optimistic Q3 guidance are positive, but supply chain challenges and the sequential decline in large display drivers temper the outlook, making this a mixed but notable event for the semiconductor sector.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $227.4M exceeded guidance of 10-13% QoQ growth (actual 14.2% QoQ)
- Q2 gross margin of 33.1% substantially exceeded ~32% guidance
- Q2 EPS of $0.114 per diluted ADS exceeded guidance range of $0.086-$0.103
- Q3 2026 guidance: revenue +7-11% QoQ, gross margin ~34%, EPS $0.08-$0.10
- Automotive IC sales grew double-digits QoQ and remain >50% of total revenue
- Large display driver sales declined 21% QoQ due to pull-forward of high-end TV IC inventory
- Non-driver revenue (Tcon, WiseEye, CPO) grew 17.7% QoQ to $45.9M
- Operating margin improved to 10.8% from 5.1% QoQ and 8.4% YoY
- Cash and equivalents $298.7M; operating cash flow $17.5M in Q2
- Supply constraints at mature process nodes causing higher costs and extended lead times
Financial Impact
Q2 revenue beat guidance by ~$10M (14.2% QoQ vs 10-13% guided); EPS beat by ~$0.01-$0.028 vs guidance midpoint; Q3 guidance implies ~$243-252M revenue
Risk Factors
- Industry-wide supply constraints at mature process nodes limiting capacity and raising costs
- Large display driver sales declining 21% QoQ signals potential demand softness in TV/IT panels
- DSO increased to 93 days from 86 days QoQ, indicating slower cash conversion
- Inventory levels remain elevated at $151.5M vs $134.6M YoY
- Q3 guidance includes $11.8M employee bonus expense (6.8 cents per ADS) that may pressure margins
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3339987 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | Press Release | $14.71 | awaiting T+60 | — | $11.50 (−21.82%) |
Aug 6, 2026 11w ago | Press Release | $13.76 | awaiting T+60 | — | $11.50 (−16.42%) |
Jul 6, 2026 16w ago | Press Release | $14.31 $14.10 | ▼ −1.47% | ▼ −3.19% | $11.50 (−19.64%) |
Jul 1, 2026 16w ago | 6-K | $14.24 $14.12 | ▼ −0.84% | ▼ −3.80% | $11.50 (−19.24%) |
Jul 1, 2026 16w ago | Press Release | $14.24 $14.12 | ▼ −0.84% | ▼ −3.80% | $11.50 (−19.24%) |
Jun 12, 2026 19w ago | 6-K | $17.70 $14.12 | ▼ −20.23% | ▼ −23.49% | $11.50 (−35.03%) |
Jun 12, 2026 19w ago | Institutional Cluster | $17.70 $14.12 | ▼ −20.23% | ▼ −23.49% | $11.50 (−35.03%) |
May 7, 2026 24w ago | 6-K | $16.03 $12.78 | ▼ −20.27% | ▼ −24.11% | $11.50 (−28.26%) |
May 7, 2026 24w ago | Press Release | $16.03 $12.78 | ▼ −20.27% | ▼ −24.11% | $11.50 (−28.26%) |
May 7, 2026 24w ago | 6-K | $16.03 $12.78 | ▼ −20.27% | ▼ −24.11% | $11.50 (−28.26%) |
US Market Status
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