ASML Holding N.V. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Date: July 15, 2026 | Participants: CEO Christophe Fouquet, CFO Roger Dassen, IR Head Jim Kavanagh

Key Financial Highlights (Q2 2026)

  • Total Net Sales: EUR 9.3 billion (exceeded high end of guidance; driven by stronger-than-expected Installed Base Management sales)
  • Net System Sales: EUR 6.6 billion (EUV: EUR 3.8 billion including 1 High-NA system; non-EUV: EUR 2.8 billion). Split: Logic 51%, Memory 49%
  • Installed Base Management Sales: EUR 2.8 billion (~EUR 300 million above guidance; primarily from upgrades)
  • Gross Margin: 54% (above guidance; boosted by high-margin components in Installed Base Management)
  • Operating Expenses: R&D EUR 1.3 billion; SG&A EUR 0.3 billion (higher than guided due to technology/IT transformation costs)
  • Net Income: EUR 2.9 billion (31.3% of sales); EPS EUR 7.59
  • Balance Sheet: Cash & short-term investments EUR 7.6 billion; Free cash flow EUR 1.3 billion
  • Shareholder Returns: Final 2025 dividend EUR 2.70/share (total 2025 dividend EUR 7.50); Q1 2026 interim dividend EUR 1.88/share payable Aug 5; EUR 1.1 billion in share buybacks under 2026-2028 program

Q3 2026 Guidance

  • Total net sales: EUR 11-12 billion

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Operator: Good day. Thank you for standing by. Welcome to the ASML 2026 Second Quarter Financial Results Conference Call on July 15th, 2026. At this time, all participants are in a listen-only mode. After the speakers' introduction, there'll be a question and answer session. To ask a question during the session, you will need to press star one and one on your telephone. You will hear an automated message advising your hand is raised. To withdraw your question, please press star one and one again. Please be advised that today's conference is being recorded. I would now like to hand the conference 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 CEO, Christophe Fouquet, and our CFO, Roger Dassen. The subject of today's call is ASML's 2026 second quarter results. The length of the call will be 60 minutes. Questions will be taken in the order they are received. This call is also being broadcast live over the internet on 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

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