Ichor Holdings, Ltd. (ICHR) Earnings
Ichor Holdings, Ltd. is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $0.31. ICHR has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -13.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 4, 2026 | $0.13 | $0.15 | +15.4% | $256M | +1.9% |
| Feb 4, 2025 | $0.27 | $0.08 | -70.4% | $233M | -4.8% |
| Feb 7, 2023 | $0.71 | $0.72 | +1.4% | $302M | +0.3% |
| Feb 8, 2022 | $0.91 | $0.90 | -1.1% | $287M | -1.3% |
| Nov 2, 2021 | $0.85 | $0.81 | -4.7% | $263M | -14.1% |
| Aug 3, 2021 | $0.85 | $0.90 | +5.9% | $282M | -0.9% |
| May 4, 2021 | $0.72 | $0.76 | +5.6% | $265M | +5.9% |
| Feb 2, 2021 | $0.69 | $0.81 | +17.4% | $245M | +16.4% |
| Nov 2, 2020 | $0.60 | $0.62 | +3.3% | $228M | +3.3% |
| May 4, 2020 | $0.58 | $0.52 | -10.3% | $220M | -13.3% |
| Feb 5, 2020 | $0.49 | $0.48 | -2.0% | $189M | -4.0% |
| Aug 6, 2019 | $0.24 | $0.23 | -4.2% | $139M | -4.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 4, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Phil noted Q1 revenues at upper end of expectations, gross margins approached high end of guidance, early investments in labor and inventory paying off. Strategic initiatives like global footprint realignment are progressing with equipment moves in Mexico ahead of schedule. Greg mentioned Q1 financials: revenues $256.1 million, gross margin 12.8%, operating income more than tripled, EBITDA nearly $14 million. Q2 guidance on revenues, gross margin, and operating expenses, with focus on disciplined cost management.
Guidance
Q2 revenues expected in range of $290 to $310 million. Gross margin guidance for Q2 is 13% to 14%. Continue to expect gross margin improvement of 100 basis points per quarter through second half of 2026. Operating expenses guidance for full year largely unchanged, targeting 5 to 6% OPEX growth. EPS range for Q2 is 25 to 35 cents.
Segment performance
First quarter revenues were $256 million, up 15% from Q4. Gross margins were 12.8%. Q2 forecast reflects unconstrained demand exceeding $300 million. Within strategic initiatives, Q2 is a major step in global footprint realignment. Half of planned equipment moves in Mexico installed and qualified ahead of schedule. Valve product line achieved full customer qualification in Q1 and will be at full production by end of Q2. Malaysia ramp will drive richer mix of machining revenues. Revenue contribution %: Core markets' demand has strengthened, with I-Corps expected to be a top performer in growth and earnings leverage.
Risks & headwinds
Forward-looking statements subject to number of risks and uncertainties, including those in earnings press release, annual report on Form 10-K for fiscal year 2025, and subsequent SEC filings.
Analyst Q&A
Q: Brian Chin from Stiefel asked about second half growth and gross margin composition.
A: Phil said visibility stronger now than a quarter ago, gross margin growth from volume leverage and cost reductions about equally weighted.
Q: Craig Ellis from B. Reilly Securities asked about business execution and capacity.
A: Phil said team making good progress, on track or ahead of schedule in initiatives, and capacity related to supply chain and headcount.
Q: Christian Schwab from Craig Hallam Capital Group asked about capacity potential and gross margin goal.
A: Phil said brick and mortar capacity in place for above 2 billion, gross margin goal for 2027 not drawn out yet.
Q: Charles Shi from Needham and Company asked about capacity and demand signal.
A: Phil said good visibility for about six months, hard PO coverage for full quarter, and litho business has inventory headwind in Q3 and tailwind in Q4.
Q: Krish Sankar from TD Cowan asked about aerospace defense demand and mix shift.
A: Phil said aerospace and defense growing well, commercial space R&D converting to POs, silicon carbide light.
Q: Edward Yang from Oppenheimer asked about 2026 growth outlook and innovation pipeline.
A: Phil said double-digit sequential growth expected in second half, and making progress in flow control with open window for qualification.