Q1 2026 ASML Holding NV Earnings Call Transcript
Key Points
- ASML Holding NV (ASML) reported strong financial results for Q1 2026, with total net sales of EUR8.8 billion, aligning with their guidance.
- The company achieved a gross margin of 53%, at the high end of their guidance, driven by high-margin components within their installed base business.
- ASML Holding NV (ASML) is experiencing strong demand for its EUV systems, with significant contributions from both logic and memory sectors.
- The company is expanding its capacity, planning to produce at least 80 low-NA EUV systems in 2027, reflecting strong customer demand.
- ASML Holding NV (ASML) is benefiting from the growth in AI-related infrastructure investments, which are driving increased demand for advanced logic and memory chips.
- ASML Holding NV (ASML) reported a negative free cash flow of EUR2.6 billion in Q1 2026, primarily due to the timing of down payments.
- The company faces challenges in increasing its move rate, which involves hiring and training new personnel, impacting short-term costs.
- Despite strong demand, ASML Holding NV (ASML) is constrained by supply chain limitations, particularly in immersion systems.
- The gross margin guidance for the full year remains unchanged at 51% to 53%, despite increased immersion sales, due to additional costs associated with ramping up production.
- ASML Holding NV (ASML) is navigating uncertainties related to export controls, which could impact future revenue outcomes.
Good day, and thank you for standing by. Welcome to the ASML 2026 first quarter financial results conference call on April 15, 2026. (Operator Instructions) 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.
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 Fouquet; and our CFO, Roger Dassen. The subject of today's call is ASML's 2026 first quarter results.
The length of the call will be 60 minutes, and questions will be taken in the order in which 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
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