Photronics Projects $217M–$225M Q1 Sales, 51–59¢ EPS; G8.6 AMOLED Shipments Begin
Photronics forecasts first-quarter fiscal 2026 revenue of $217 million to $225 million and non-GAAP EPS of $0.51 to $0.59, implying 4.4% sales growth and 3.9% earnings growth year-over-year. Strength in 22–28nm high-end IC sales and initial G8.6 AMOLED orders may fuel upside, while mainstream IC softness and geopolitical uncertainty pose risks.
1. Q1 Fiscal 2026 Guidance
Photronics expects revenue between $217 million and $225 million and non-GAAP earnings of $0.51 to $0.59 per share for its fiscal first quarter ending February. The company’s guidance sits near the consensus $221.39 million revenue estimate and the EPS consensus of $0.54, reflecting anticipated year-over-year increases of roughly 4.4% in sales and 3.9% in earnings.
2. Segment Highlights
High-end IC revenues likely benefited from record shipments in 22–28 nanometer nodes to the United States and Asia, which comprised 42% of IC sales in Q4 FY25. Flat panel display mask sales dipped sequentially but rebounded, supported by the first two G8.6 AMOLED orders shipped and expected additional demand for advanced AMOLED and G8.6 technologies.
3. Risks and Backlog Visibility
Mainstream IC softness has weighed on order visibility, while ongoing geopolitical uncertainty continues to challenge supply chain planning. Photronics faces a relatively short backlog heading into the quarter, increasing sensitivity to order timing and market fluctuations.
4. Historical Performance and Ranking
Photronics has beaten earnings estimates in two of its past three quarters, with an average surprise of 13.9%. However, an Earnings ESP of 0.00% combined with a Zacks Rank #3 suggests neutral upside potential from consensus expectations.