Q2 2026 ASML Holding NV Earnings Call Transcript
Key Points
- ASML Holding NV (ASML) reported total net sales of EUR9.3 billion for Q2 2026, exceeding the high end of their guidance.
- The company achieved a gross margin of 54%, surpassing their guidance due to high-margin components within their Installed Base Management business.
- ASML Holding NV (ASML) increased its full-year 2026 guidance, expecting total net sales between EUR43 billion and EUR45 billion, driven by strong customer demand.
- The company plans to ship around 65 low NA EUV systems in 2026, resulting in a year-over-year EUV net system sales growth of over 45%.
- ASML Holding NV (ASML) is seeing strong demand for advanced lithography solutions, with advanced logic/foundry-related net system sales expected to grow over 25% this year.
- Operating expenses were higher than guided due to estimated costs related to Technology and IT transformation, primarily in R&D.
- The effective tax rate for Q2 was 17.5%, slightly higher than the expected annualized rate of around 17% for the full year.
- There are concerns about the pricing of High NA systems, with some customers finding them too expensive compared to low NA systems.
- ASML Holding NV (ASML) faces challenges in balancing demand and supply, with ongoing discussions needed to align capacity with customer needs.
- The company is experiencing fluctuations in demand, particularly for 2027 and 2028, which requires continuous adjustments in capacity planning.
Good day, and thank you for standing by. Welcome to the ASML 2026 second quarter financial results conference call on July 15, 2026. (Operator Instructions) 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.
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 second quarter results.
The length of the call will be 60 minutes, and 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
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