Traders should expect a strong positive reaction as the beat-and-raise clears a high bar. Watch for any commentary on inventory normalization (H1 inventory build of $239M consumed cash) and execution on the UCT 3.0 expansion plan. The raised guidance suggests revenue momentum is accelerating alongside AI-driven semiconductor demand.
Price Chart
Executive Summary
Ultra Clean Holdings crushed Q2 2026 expectations with non-GAAP EPS of $0.70 (32% above $0.53 consensus) on revenue of $644.9M (10% above $587.6M estimate), driven by strong operational execution and rising semiconductor demand. Q3 guidance was raised sharply to revenue of $700M-$750M and non-GAAP EPS of $0.83-$1.03, signaling accelerating momentum. The stock is likely to gap up on the beat-and-raise combination.
Key Financial Metrics
Key Facts
- Q2 revenue $644.9M vs consensus $587.6M (beat by 9.7%)
- Q2 non-GAAP EPS $0.70 vs consensus $0.53 (beat by 32%)
- Q3 guidance: revenue $700M-$750M, non-GAAP EPS $0.83-$1.03 — midpoint $0.93 well above Q2's $0.70
- GAAP net income $8.7M vs prior quarter net loss of $(17.9)M
- Gross margin improved to 16.1% (GAAP) and 16.7% (non-GAAP) vs 15.8%/16.5% in Q1
- Total revenue grew 24.3% YoY from $518.8M
- Cash used in operations was $(74.4)M in H1 due to inventory build of $238.9M
Financial Impact
Q2 revenue exceeded consensus by $57.3M and non-GAAP EPS by $0.17; Q3 guidance midpoint of $725M revenue implies sequential growth of ~12%
Risk Factors
- Semiconductor capital equipment cyclicality could temper demand later in 2026
- Inventory build of $238.9M in H1 may pressure cash flow if not normalized
- Convertible note issuance and $600M in proceeds add debt ($599.4M total long-term debt)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302841520 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | 8-K | $84.93 $66.39 | ▲ +21.83% | ▲ +19.84% | $76.30 (+10.16%) |
Aug 14, 2026 7w ago | 424B5 | $84.93 $66.39 | ▲ +21.83% | ▲ +19.84% | $76.30 (+10.16%) |
Aug 3, 2026 8w ago | Press Release | $84.54 $65.11 | ▼ −22.98% | ▼ −21.75% | $76.30 (−9.75%) |
Jun 9, 2026 16w ago | Insider Cluster | $90.90 $106.19 | ▲ +16.82% | ▲ +13.20% | $76.30 (−16.06%) |
Jun 9, 2026 16w ago | Insider Cluster | $90.90 $106.19 | ▲ +16.82% | ▲ +13.20% | $76.30 (−16.06%) |
Jun 8, 2026 16w ago | Insider Cluster | $91.88 $90.78 | ▼ −1.20% | ▼ −2.64% | $76.30 (−16.96%) |
Jun 4, 2026 17w ago | Insider Cluster | $82.07 $105.53 | ▲ +28.59% | ▲ +26.72% | $76.30 (−7.03%) |
May 27, 2026 18w ago | 144 | $87.29 $118.82 | ▲ +36.12% | ▲ +39.27% | $76.30 (−12.59%) |
May 19, 2026 19w ago | Insider Cluster | $76.98 $111.61 | ▲ +44.99% | ▲ +44.00% | $76.30 (−0.88%) |
May 1, 2026 21w ago | 10-Q/A | $73.11 $84.70 | ▲ +15.85% | ▲ +10.21% | $76.30 (+4.36%) |
US Market Status
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