ASM reports first quarter 2026 results
Summary by AI BETAClose X
Almere, The Netherlands
April 21, 2026, 6 p.m. CET
Q1 revenue at high end of guidance; record operating margin
ASM International N.V. (Euronext Amsterdam: ASM) today reports its first quarter 2026 results (unaudited).
- Revenue of €863 million in Q1 2026 reached the high end of the guidance of €830 million +/-4%. Revenue was led by logic/foundry, with continued strength in the leading-edge segment and a sequential strong rebound in mature logic/foundry sales in China.
- AI-led demand accelerated further in the quarter, underpinned by strong customer investments in capacity to drive long-term AI infrastructure expansion.
- Gross margin came in at 53.3% in Q1 2026, supported by a favorable product- and customer mix.
- Adjusted operating result margin increased to a quarterly record of 33.1% in Q1 2026, reflecting strong revenue growth and expanded gross margin, and continued cost control.
- Adjusted net earnings in Q1 2026 increased by €54 million year on year, supported by improved operating margin and a positive currency translation result.
- Outlook: at constant currency, revenue is projected to increase to €980 million +/-5% in Q2 2026. H2 is expected to be stronger than H1.
Financial highlights
| € million | Q1 2026 | Q4 2025 | Q1 2025 |
| Revenue | 862.5 | 698.3 | 839.2 |
| yoy change % as reported | 3% | (14%) | 31% |
| yoy change % at constant currency | 16% | (7%) | 26% |
| Gross profit | 459.9 | 347.7 | 447.8 |
| Gross margin % | 53.3% | 49.8% | 53.4% |
| Operating result | 278.2 | 170.5 | 266.2 |
| Operating margin % | 32.2% | 24.4% | 31.7% |
| Adjusted operating result 1 | 285.9 | 175.2 | 271.0 |
| Adjusted operating margin %1 | 33.1% | 25.1% | 32.3% |
| Net earnings (loss) | 238.5 | 166.1 | (28.9) |
| Adjusted net earnings 1 | 246.0 | 169.6 | 191.9 |
1 Adjusted figures are non-IFRS performance measures. Refer to Annex 3 for a reconciliation of non-IFRS performance measures.
Comment
“We delivered a strong start to the year, with Q1 2026 revenue of €863 million reaching the high end of our guidance range of €830 million +/-4%,” said Hichem M’Saad, CEO of ASM. “This performance was led by logic/foundry customers, reflecting sustained strength in the leading-edge nodes and a sequential strong rebound in the mature node segments. Gross margin was strong at 53.3%, supported by a favorable mix, and we achieved a quarterly record operating margin of 33.1%, reflecting solid gross margin performance and disciplined cost management while continuing to increase investment in R&D.
End‑market demand continues to be primarily driven by AI, even as the broader backdrop has become more uncertain amid the Middle East conflict, rising energy prices, and potential implications for global GDP growth. With AI adoption broadening and workloads for new use cases scaling up rapidly, compute capacity is increasingly becoming the main constraint, driving accelerated investment in AI infrastructure. Within semiconductors, this is translating into tighter capacity requirements for advanced logic/foundry and memory devices, increasing both customer investments and the urgency for tool deliveries. In this environment, our priority is to continue supporting our customers’ expansion plans, even as the surge in demand is putting increasing pressure on the supply chain.
Momentum in advanced logic/foundry remained strong. In memory, demand was solid, largely for the most advanced DRAM device technologies used in HBM‑related applications. Demand in China accelerated, primarily in the mature logic/foundry segment.
Customer R&D engagements continue to expand, spanning additional ALD and Epi layers for upcoming logic/foundry nodes, continued development of ALD and Epi applications for 4F² DRAM technology, and progress toward wins in advanced packaging.”
Outlook
At constant currency, we project revenue to increase to €980 million +/-5% in Q2 2026, and we continue to anticipate revenue in the second half of 2026 to be higher than in the first half. Our view is unchanged that advanced logic/foundry will be the main driver of our business this year, as customers are stepping up spending at today’s leading-edge nodes, in addition to pilot-line investments for the 1.4nm node which are expected to start in the second half of the year. Furthermore, we expect year-on-year growth from China. Memory sales are projected to show healthy growth in 2026, even though with a smaller share than logic/foundry. In the power/analog/wafer segment, we still anticipate a gradual recovery in 2026 from a low base.
Annual General Meeting
On March 27, 2026, ASM published the agenda, convocation, and other materials for the 2026 Annual General
Meeting (AGM), to be held on May 11, 2026, in Almere, which as also earlier announced, includes, amongst other
things, approvals of:
• the annual accounts of 2025;
• the remuneration report 2025;
• the proposal to declare a regular dividend of €3.25 per common share;
• the reappointment of Mr. M'Saad (for four years) as a member of the Management Board (CEO);
• the reappointment of Mr. De Jong as a member of the Supervisory Board;
• a change of the remuneration policy for the Management Board;
• a change of the remuneration policy and remuneration for the Supervisory Board;
• the reappointment of EY Accountants B.V. as auditor and assurance provider for the financial year 2027.
About ASM
ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM's common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM's website at www.asm.com.
Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, pandemics, epidemics and other risks indicated in the company's reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Quarterly earnings conference call details
ASM will host the quarterly earnings conference call and webcast on Wednesday, April 22, 2026, at 3:00 p.m. CET.
Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.
A simultaneous audio webcast and replay will be accessible at this link.
| Contacts | |
| Investor and media relations | Investor relations |
| Victor Bareño | Huiying Jing |
| T: +31 88 100 8500 | T: +31 88 100 8124 |
| E: investor.relations@asm.com | E: investor.relations@asm.com |
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