Q1 2026 SK Hynix Inc Earnings Call Transcript
Key Points
- SK Hynix Inc (FRA:HY9H) reported a record high quarterly revenue of RMB52.6 trillion, marking a 60% increase quarter-over-quarter and a 198% increase year-over-year.
- The company achieved an all-time high operating margin of 72%, with operating profit reaching 37.6 trillion won, nearly doubling from the previous quarter.
- Strong demand for high-performance memory products, particularly in AI infrastructure, drove significant price increases for both DRAM and NAND.
- SK Hynix Inc (FRA:HY9H) plans to ramp up production of HBM4 in collaboration with major customers, maintaining its market leadership in high-performance memory.
- The company is strategically increasing its CapEx to prepare for long-term demand growth, focusing on infrastructure and key equipment procurement, ensuring supply stability and financial soundness.
- NAND shipments declined by approximately 10% quarter-over-quarter due to a high base from the previous quarter and longer production lead times.
- There are concerns about potential demand softening in the PC and mobile markets due to cost pressures from higher memory prices.
- The company faces challenges in accommodating all customer requests for multi-year long-term agreements due to current supply constraints.
- Despite robust demand, the supply-demand imbalance persists, with suppliers struggling to increase supply in the short term.
- There are concerns about potential oversupply issues in the future, although the company is monitoring demand changes closely to mitigate this risk.
Good morning, afternoon, and evening.
Thank you for joining SK Hynix's 2026 Q1 earnings release conference call. Following SK Hynix's presentation, there will be a Q&A session.
If you have a question, please press star and 1 on your phone.
Please note that presentations will be interpreted simultaneously and a Q&A session with consecutive interpretation. With that, we are now ready to begin.
Good morning, afternoon, and evening. This is Park Sung-hwan, Head of IR at SK Hynix. Welcome to the SK Hynix 2026 First Quarter Earnings Release Conference Call.
Allow me to introduce the executives present here with me today. We are joined by CFO Kim Woo-hyun, Head of DRM Marketing, Park Joon-deok, Head of NAND Marketing, Song Chang-seok, and HBM Sales and Marketing Head, Kim Gi-tae.
Let me issue a disclaimer that our first quarter results included in this conference call are consolidated figures and provisional in nature as the external
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