Camtek slides after Q1 2026 earnings show softer margins despite upbeat outlook
Camtek reported Q1 2026 results today, with revenue of $121.7M (+2.5% YoY) but weaker profitability (GAAP operating income -17% YoY; GAAP EPS $0.63). It also issued Q2 2026 revenue guidance of $129–$131M and discussed a strong 2H 2026 growth outlook tied to orders/backlog.
1) What happened today (May 12, 2026)
Camtek released its first-quarter 2026 financial results today and filed the accompanying Form 6-K. The stock’s decline aligns with the earnings update, which showed modest revenue growth but a step-down in profitability and margins.
2) Key numbers and what the market may be reacting to
Q1 2026 revenue was $121.7 million (+2.5% year over year). Profitability softened: GAAP operating income fell 17% to $27.3 million and GAAP net income declined 8% to $31.6 million (GAAP EPS $0.63), alongside slight gross-margin compression versus the prior year period.
3) Outlook / guidance
For Q2 2026, Camtek guided revenue to $129–$131 million. Management also indicated expectations for second-half 2026 revenue to grow by over 25% versus the first half, citing strong backlog and an unusually high level of incoming orders.