PLAB earnings call summary

Prepared Highlights

• Q1 FY2026 revenue $225M, +4% sequentially, +6% YoY, exceeding expectations (CEO, CFO)
• IC segment revenue $165M, +7% YoY; high-end IC $71M (record), +19% YoY (CEO, CFO)
• Mainstream IC $94M, flat YoY (CFO)
• FPD segment revenue $60M, +3% YoY; mainstream China IT display mix shift (CFO)
• Gross margin 35% (high end of expectations) (CFO)
• Operating margin 24% (Q1) (CFO)
• GAAP diluted EPS $0.74；Non-GAAP diluted EPS $0.61 (CEO, CFO)
• Operating cash flow $97M (second highest in company history), 43% of revenue (CFO)
• CapEx $48M in Q1; reaffirmed FY2026 CapEx guidance $330M, focused on U.S./Korea expansions and end-of-life tool upgrades (CFO)
• Total cash & short-term investments $637M, including $459M held in JVs (50.1% ownership) (CFO)
• Backlog visibility limited to 1–3 weeks; demand inherently variable (CFO)

Official Guidance (Fiscal Q2 2026)

• Revenue: $212M–$220M (CFO)
• Operating margin: 22%–24% (CFO)
• Non-GAAP diluted EPS: $0.49–$0.55 (CFO)

Management Quotes

• "Accelerating demand during fiscal Q4 continued throughout fiscal Q1 with sales increasing 4% sequentially to $225 million, exceeding expectations." (CEO)
• "In our IC business, revenue of $165 million increased 7% year-over-year with our high-end business growing 19%." (CEO)
• "We achieved the second highest quarter of operating cash flow in the company's history at $97 million, equating to 43% of revenue." (CFO)
• "We are reiterating our fiscal 2026 CapEx guidance of $330 million with elevated CapEx focused on special project investments in the U.S. and Korea along with accelerated end-of-life tool upgrades." (CFO)

Prepared Metrics