ASML Holding N.V. Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Date: October 14, 2026 | Participants: CEO Christophe D. Fouquet, CFO Roger J. Dassen, IR Head Jim Kavanagh

Key Financial Highlights (Q3 2026 vs. Prior Periods)

  • Total Net Sales: €11.7 billion (record high, at high end of guidance; strong capacity execution). Full-year 2026 expected at €44-45 billion (+36% YoY).
  • Net System Sales: €8.4 billion (€4.1B EUV incl. 1 High-NA system; €4.3B non-EUV). Split: Logic 54%, Memory 46%.
  • Installed Base Management (IBM) Sales: €3.3 billion (exceeded guidance by ~€400M due to productivity upgrades in EUV/DUV).
  • Gross Margin: 57.5% (above guidance; driven by high-margin IBM components). Q4 guidance ~57%; full-year ~56%.
  • Operating Expenses: R&D ~€1.2B, SG&A ~€0.4B (as guided).
  • Net Income: €5.0 billion (incl. ~€500M Mistral AI valuation gain); EPS €12.95 (42.5% of sales).
  • Cash & Liquidity: €12.7B cash/short-term investments; Free cash flow €11.4B.
  • Shareholder Returns: Q1 interim dividend €1.88/share paid; €4.1B shares bought back under 2026-2028 program; Q2 dividend €1.88/share payable Nov 4, 2026.

Full-Year 2026 Expectations (vs. 2025)

  • Total sales +36% YoY.
  • EUV systems sales +45% YoY; non-EUV +20% YoY; IBM +50% YoY.

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Operator: Good day, and thank you for standing by. Welcome to the ASML 26 Third Quarter Financial Results Conference Call on 10/14/2026, After the speakers' introduction, there will be a question-and-answer session. To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press *11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference call over to Mr. Jim Kavanagh, please go ahead. Jim Kavanagh: Thank you, operator. Welcome, everyone. This is Jim Kavanagh, Head of Investor Relations at ASML. Joining me today on the call are ASML's CEO, Christophe D. Fouquet, and our CFO, Roger J. Dassen. The subject of today's call is ASML's third quarter 2026 results. Length of the call will be 60 minutes, and questions will be taken in the order that they are received. This call is also being broadcast live over the Internet at www.asml.com. A transcript of management's opening remarks and a replay of the call will be available on our website shortly following the conclusion of this call. Before we begin, I would like to caution listeners that comments made by management during this conference call will include forward-looking statements. Within the meaning of the federal securities laws. These forward-looking statements involve material risks and uncertainties. For a discussion of risk factors, I encourage y

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