The sequential decline in guidance suggests near-term headwinds despite strong Q1 results. Traders should monitor the upcoming earnings call for commentary on demand sustainability and the impact of Chinese New Year on Q2 performance.
Price Chart
Executive Summary
Photronics reported strong first quarter fiscal 2026 results with record high-end IC revenue, achieving $225.1 million in revenue (up 6.1% YoY) and $0.74 in GAAP EPS. However, the company issued lower-than-expected guidance for Q2, forecasting revenue of $212-220 million and non-GAAP EPS of $0.49-0.55, signaling a sequential decline.
Key Financial Metrics
Key Facts
- Revenue of $225.1 million, up 6.1% YoY and 4.3% QoQ
- GAAP EPS of $0.74, flat YoY but down 31% from Q4 2025
- Non-GAAP EPS of $0.61, up 17% YoY but down from $0.60 in Q4 2025
- Q2 guidance calls for revenue of $212-220 million (down 2.2-4.4% from Q1) and non-GAAP EPS of $0.49-0.55
- Record high-end IC revenue for second consecutive quarter at $165.3 million
- Operating cash flow of $97.3 million and capex of $47.6 million
Financial Impact
Revenue expected to decline 2.2-4.4% sequentially in Q2, with non-GAAP EPS guidance down 10-19% from Q1
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| IC | $165.3M | +7.0% |
| FPD | $59.8M | +3.0% |
Risk Factors
- Sequential revenue and earnings decline in Q2 guidance
- Potential over-reliance on seasonal demand for high-end IC revenue
- Increased capex of $47.6 million could pressure margins if demand softens
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (PLAB) — Batch item 1 | 0001140361-26-006717 |
| Document: ef20066395_ex99-2.htm | 0001140361-26-006717 |
| Document: ef20066395_8k.htm | 0001140361-26-006717 |
| Document: 0001140361-26-006717-index-headers.html | 0001140361-26-006717 |
| Document: 0001140361-26-006717-index.html | 0001140361-26-006717 |
| Document: 0001140361-26-006717.txt | 0001140361-26-006717 |
| 8-K Filing (PLAB) — Batch item 7 | 0001140361-26-006717 |
| CONTEXT: Previous Earnings (2026-02-25) | 0001140361-26-006717 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 24d ago | Insider Cluster | $31.49 | awaiting T+60 | — | $27.87 (+11.50%) |
Oct 1, 2026 24d ago | Insider Cluster | $31.49 | awaiting T+60 | — | $27.87 (+11.50%) |
Sep 29, 2026 26d ago | Insider Cluster | $30.78 | awaiting T+60 | — | $27.87 (+9.45%) |
Aug 26, 2026 8w ago | 8-K | $30.25 | awaiting T+60 | — | $27.87 (−7.87%) |
Aug 12, 2026 10w ago | Press Release | $33.48 | awaiting T+60 | — | $27.87 (−16.76%) |
May 28, 2026 21w ago | 8-K | $34.02 $30.51 | ▲ +10.32% | ▲ +12.05% | $27.87 (+18.08%) |
May 14, 2026 23w ago | Press Release | $50.02 $32.99 | ▼ −34.05% | ▼ −38.56% | $27.87 (−44.28%) |
May 13, 2026 23w ago | Press Release | $51.86 $32.65 | ▼ −37.04% | ▼ −41.48% | $27.87 (−46.26%) |
Apr 17, 2026 27w ago | 144 | $48.38 $29.47 | ▼ −39.09% | ▼ −45.23% | $27.87 (−42.39%) |
Apr 13, 2026 27w ago | Insider Cluster | $45.71 $29.90 | ▲ +34.59% | ▲ +43.30% | $27.87 (+39.03%) |
US Market Status
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