AMAT
Applied Materials, Inc.258.84
-2.43-0.93%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Q&A details AI, memory durability
Q&A reinforced the scripted optimism on AI-driven WFE but added granular color: DRAM leading memory recovery over slower NAND rebalance, with HBM fueling advanced packaging growth. Foundry-logic stays healthy at leading nodes; regional momentum builds in US, Taiwan, and Korea. Management dismissed major concerns, noting no cancellations despite timing shifts, improving lead times, and mixed China demand under regs. Pricing rational, competition stable. Supply resiliency advances steadily. Demand endures. Investors track HBM execution and tech ramps like GAA.
Key Stats
Market Cap
206.20BP/E (TTM)
29.85Basic EPS (TTM)
8.67Dividend Yield
0.01%Recent Filings
8-K
Shareholders back board, pay
Applied Materials shareholders at the March 12, 2026 annual meeting elected all ten director nominees, including Gary E. Dickerson and Scott A. McGregor, with over 95% votes for most. Say-on-pay for 2025 executive compensation passed with 552M for votes. KPMG's appointment as auditor for 2026 was ratified overwhelmingly. Strong support signals board continuity.
10-Q
Q1 FY2026 results
Applied Materials posted Q1 FY2026 revenue of $7.0B, down 2% y/y yet steady q/q, with gross margin ticking up to 49.0% from 48.8% on higher selling prices and lower costs. Operating income fell to $1.8B (26.1% margin) from $2.2B (30.4%), hit by a $253M legal settlement over export controls and $12M restructuring, but net income soared to $2.0B ($2.54 diluted EPS) from $1.2B ($1.45) thanks to $566M in interest/other income (equity gains) and a 13.0% tax rate versus 44.1%. Cash holds firm at $7.2B, $1.7B operating cash flow less $646M capex yields $1.0B FCF; $6.5B long-term debt, revolver fully available. Taiwan revenue jumped 46% y/y. Export regulations crimp China sales.
8-K
BIS settlement: $252.5M paid
Applied Materials settled BIS export controls inquiry on February 11, 2026, over China shipments from Nov. 2020 to July 2022, paying $252.5 million in one-time cash while committing to audits and training. DOJ and SEC closed probes without action. Matter closed. This clears overhangs, freeing focus on semiconductor innovation amid AI demand.
8-K
Q1 revenue dips, EPS surges
Applied Materials reported Q1 revenue of $7.01 billion, down 2% year over year, yet GAAP EPS soared 75% to $2.54 on AI-driven demand. Semiconductor Systems hit record DRAM revenue while Applied Global Services set spares records; a $253 million legal settlement hit operations. Q2 guides $7.65 billion revenue, up sharply. Capacity doubled.
10-K
FY2025 results
Applied Materials posted FY2025 revenue of $28.4B, up 4% y/y, with Semiconductor Systems at $20.8B (up 4%) fueled by foundry/logic strength while AGS hit $6.4B (up 3%) on service demand. Q4 restructuring slashed 4% of workforce, triggering $181M charges, yet operating income climbed to $8.3B (29.2% margin). Backlog swelled to $15B. Debt sits at $6.5B; $14B remains for buybacks after $4.9B repurchases, plus $1.4B dividends. Q4 accelerated capex to $2.3B. Export controls to China threaten momentum.
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