MKS earnings date
MKS (MKSI) Q3 2026 Earnings Report
MX:MKSI Q3 2026 EPS Results
- Actual EPS
- MXN 77.75
- Consensus EPS
- MXN 67.61
- Beat/Miss
- Beat by +MXN 10.14
- One Year Ago EPS
- MXN 35.90
MX:MKSI Q3 2026 Revenue Results
- Actual Revenue
- MXN 26.28B
- Expected Revenue
- MXN 25.37B
- Beat/Miss
- Beat by +MXN 915.04M
- YoY Revenue Growth
- +43.02%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/04/2026
- Time
- After Close
- Conference Call
- Wednesday, November 4, 2026
MKS's next earnings date is estimated for January 27, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly optimistic, with record or near-record growth across semiconductor and electronics and packaging markets, robust AI-driven demand, strong order visibility, expanding operating margins, substantial free cash flow, debt reduction, and a favorable fourth-quarter outlook. The company also highlighted capacity constraints, seasonal flex weakness, smartphone market softness, mix-related margin headwinds, and potential industry supply challenges, but these issues were presented as manageable or as opportunities to gain share. Highlights significantly outweighed lowlights.
For Q4 2026, MKS expects revenue of $1.49 billion, plus or minus $40 million, representing a 44% growth over the prior year, including semiconductor revenue of $700 million, plus or minus $15 million, electronics and packaging revenue of $430 million, plus or minus $15 million, and specialty industrial revenue of $360 million, plus or minus $10 million; semiconductor revenue points to accelerating year-over-year growth, electronics and packaging revenue is expected to increase over 40% year-over-year, and specialty industrial revenue is expected to remain at this level. The company estimates gross margin of 47.5%, plus or minus 100 basis points, operating expenses of $288 million, plus or minus $5 million, operating income of $420 million, plus or minus $29 million, operating margin of over 28%, adjusted EBITDA of $461 million, plus or minus $29 million, a fourth-quarter tax rate of approximately 19%, full-year tax rate of just over 16%, and fourth-quarter net earnings per diluted share of $5.00, plus or minus $0.38. Full-year capital spending is expected to remain within the targeted 3% to 5% range; chemistry equipment sales are expected to be more than $300 million, AI-related chemistry revenue is tracking towards the high end of the 15% to 20% range for 2026, approximately 25% of total E&P revenue is expected to represent AI exposure for the full year, and E&P is on track to grow nearly 40% in 2026.
- Revenue and EPS Exceeded GuidanceThird-quarter revenue was $1.41 billion, up 13% sequentially and 43% year-over-year, while net earnings were $292 million, or $4.18 per diluted share, more than doubling year over year and exceeding the high end of guidance.
- Strong Fourth-Quarter OutlookMKS expects fourth-quarter revenue of $1.49 billion, plus or minus $40 million, representing 44% growth over the prior year. Expected diluted EPS is $5.00, plus or minus $0.38, with operating margin expected to be over 28%.
- Operating Margin ExpansionThird-quarter operating income was $393 million, and operating margin improved approximately 700 basis points year over year to 27.8%, the company's highest quarterly operating margin in over 8 years. Adjusted EBITDA was $434 million, with a 30.7% margin.
- Semiconductor Market GrowthThird-quarter semiconductor revenue was $638 million, up 15% sequentially and 54% year over year, with growth broad based across vacuum, photonics, power, pressure, microwave, plasma, and reactive gas solutions.
- Strong Semiconductor Orders and VisibilitySemiconductor order activity remained very strong, providing rapid revenue growth and excellent visibility well into the new year. Customer visibility extends into the 2028 time frame, and MKS expects to continue outgrowing WFE during the period of elevated investment.
- Semiconductor Design WinsA major foundry selected MKS dissolved gas solutions for advanced logic. MKS also secured an important pulsed DC power win for a significant conductive etch application that is displacing the incumbent and is expected to be significant in the future.
- NAND Upgrade and Greenfield OpportunitiesNAND upgrades continued at a healthy pace, with upgrades expected to continue for most of 2027. Publicly announced greenfield NAND capacity is expected to come online in the late 2027 to early 2028 time frame, with RF power demand described as robust.
- Semiconductor Capacity ExpansionMKS is preparing for WFE approaching $300 billion in 2028. The Malaysia Supercenter will ramp over the coming quarters with room for further expansion, and the company plans to expand supercenter capacity in North America and Europe while maintaining CapEx intensity within its targeted 3% to 5% range.
- Electronics and Packaging GrowthThird-quarter electronics and packaging revenue was $415 million, up 9% sequentially and 43% year over year, with higher chemistry and chemistry equipment sales driving the sequential improvement.
- Record Chemistry GrowthChemistry revenue grew 26% year over year excluding the impact of FX and Palladium pass through, described as the strongest growth in the history of the company. Chemistry equipment sales increased more than 75% year over year in the third quarter, and full-year sales are expected to exceed $300 million, over 50% above the historic annual peak.
- AI-Related Electronics and Packaging DemandAI-related chemistry revenue is tracking toward the high end of the 15% to 20% range discussed for 2026. Across chemistry equipment, chemistry, and laser systems, AI exposure is expected to represent approximately 25% of total electronics and packaging revenue for the full year, an approximately 180% annual increase in dollar terms. At the midpoint of fourth-quarter guidance, approximately one-third of E&P revenue is expected to come from AI.
- Chemistry Installed-Base OpportunityMKS's proprietary chemistries have an attach rate of greater than 85% to its equipment installed base, generating years of steady revenue and gross margins well above the corporate average. Chemistry revenue from equipment shipped several quarters ago is beginning to contribute and is expected to accelerate as more equipment is qualified.
- Chemistry Equipment Capacity ExpansionCurrent chemistry equipment capacity is sold out through 2027, with bookings extending into 2028. Capacity expansion in Guangzhou, China, is targeted for the third quarter of 2027 and is expected to double overall capacity when completed.
- Rigid PCB Laser Drilling OpportunityMKS reported considerable new order volume for laser systems used in rigid PCB applications, including optical modules, with deliveries expected to accelerate significantly in 2027. The company stated that the rigid drilling market is multiple times larger than the flex market and expects this business to accelerate through 2027.
- Specialty Industrial Market GrowthThird-quarter specialty industrial revenue was $360 million, up 15% sequentially and 27% year over year, led by strength in datacom and improvement in general industrial markets. Automotive posted modest growth despite soft vehicle production.
- Strong Cash Flow and LiquidityMKS generated $243 million of free cash flow, approximately 17% of revenue, and ended the quarter with over $1.6 billion of liquidity, including $676 million of cash and cash equivalents and an undrawn $1 billion revolving credit facility.
- Debt Reduction and Improved LeverageMKS made a €50 million principal prepayment on its euro term loan in the third quarter and another $100 million prepayment on the USD term loan in October, bringing total year-to-date prepayments to over $450 million. Net leverage was 2.4x, down 1.5 turns from a year ago and within the company's 2.5x target.
- Share Repurchase Authorization and DividendThe Board approved a $500 million share repurchase program to provide flexibility for opportunistic repurchases. MKS also paid a dividend of $0.25 per share, or $17 million.
- Ophir Optics DivestitureMKS entered into an agreement to sell its Ophir Optics business to TTM Technologies at an attractive valuation. Management stated that the transaction provides balance sheet flexibility and demonstrates how specialty industrial activities enhance shareholder value creation.
- Supply Chain Execution and Potential Share GainsManagement said the supply chain has remained relatively in control, with suppliers investing and hiring to support demand. Reported shortfalls in certain commodities, including some commodities MKS also makes, were described as share gain opportunities.
- Value-Based Pricing OpportunityManagement stated that pockets of inflation are present but not widespread and that value-based pricing discussions are more conducive because customers understand constraints, inflation, and the value of suppliers that can deliver.
MX:MKSI Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 27, 2027 | 2026 (Q4) | 94.25- | 45.94 | ― | ― |
| Nov 04, 2026 | 2026 (Q3) | 67.6177.75 | 35.9 | 116.58% (+41.85) | |
| Aug 05, 2026 | 2026 (Q2) | 54.0561.38 | 32.92 | 86.44% (+28.46) | |
| May 06, 2026 | 2026 (Q1) | 38.0242.78 | 31.81 | 34.50% (+10.97) | |
| Feb 17, 2026 | 2025 (Q4) | 45.6845.94 | 39.99 | 14.88% (+5.95) | |
| Nov 05, 2025 | 2025 (Q3) | 34.4835.90 | 31.99 | 12.21% (+3.91) | |
| Aug 06, 2025 | 2025 (Q2) | 30.4732.92 | 28.46 | 15.69% (+4.46) | |
| May 07, 2025 | 2025 (Q1) | 27.0631.81 | 21.95 | 44.92% (+9.86) | |
| Feb 12, 2025 | 2024 (Q4) | 36.3639.99 | 21.76 | 83.76% (+18.23) | |
| Nov 06, 2024 | 2024 (Q3) | 26.9131.99 | 27.16 | 17.81% (+4.84) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
