KLA Corporation (KLAC) Earnings
KLA Corporation is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $9.97. KLAC has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +3.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $9.17 | $9.40 | +2.5% | $3.4B | +1.2% |
| Jan 29, 2026 | $8.79 | $8.85 | +0.7% | $3.3B | +1.5% |
| Oct 29, 2025 | $8.63 | $8.81 | +2.1% | $3.2B | +1.2% |
| Jul 31, 2025 | $8.56 | $9.38 | +9.6% | $3.2B | +3.1% |
| Apr 30, 2025 | $8.09 | $8.41 | +4.0% | $3.1B | +1.8% |
| Jan 30, 2025 | $7.75 | $8.20 | +5.8% | $3.1B | +4.4% |
| Jul 24, 2024 | $6.15 | $6.60 | +7.3% | $2.6B | +1.8% |
| Apr 25, 2024 | $5.01 | $5.26 | +5.0% | $2.4B | +2.1% |
| Jan 25, 2024 | $5.88 | $6.16 | +4.8% | $2.5B | +1.0% |
| Oct 25, 2023 | $5.41 | $5.74 | +6.1% | $2.4B | +1.5% |
| Jul 27, 2023 | $4.85 | $5.40 | +11.3% | $2.4B | +4.3% |
| Jan 26, 2023 | $7.10 | $7.38 | +3.9% | $3.0B | +5.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Rick noted Haley delivered strong results across the board, with AI as a core driver. KLA achieved number one position in process control for advanced wafer-level packaging in 2025. Service business has strategic importance with rising customer expectations. KLA held investor day in March, introduced new long-term revenue growth targets, 2030 financial model, increased capital allocation, and announced 17th consecutive dividend increase and $7 billion share repurchase authorization. Brent discussed financial highlights, revenue above guidance midpoint, gross margin 62.2% above guidance midpoint, operating expenses higher than expected, and industry outlook with wafer equipment market expected to exceed $140 billion in 2026 and strong business momentum leading into 2027.
Guidance
For 2026, expect sequential revenue growth to accelerate, leading to high teen revenue growth year-over-year and semiconductor process control systems business to grow over 20%. June quarter guidance is for revenue of $3.575 billion, plus or minus $200 billion. Gross margin for the quarter is forecasted to be 61.75% plus or minus one percentage point. Operating expenses are forecasted to be approximately $665 million in the June quarter. Non-GAAP diluted EPS is expected to be $9.87 plus or minus $1, and GAAP diluted EPS is expected to be $9.66 plus or minus $1.
Segment performance
KLA's March quarter revenue was $3.415 billion, up 4% sequentially and 11% year-over-year. Service business was $775 million, up 16% year-over-year but down 1% sequentially. Semiconductor process control product portfolio revenue for advanced packaging is expected to grow from ~$635 million in 2025 to ~$1 billion in 2026. Foundry logic revenue from semiconductor customers is forecasted to increase to approximately 82% and memory is expected to be approximately 18% of semi-process control systems revenue to semiconductor customers. In memory, DRAM is expected to account for roughly 84%, with NAND accounting for the remaining 16%.
Risks & headwinds
Comments today are subject to risks and uncertainties reflected in the disclosure of risk factors in SEC filing. Forward-looking statements are subject to those risks, and actual results may differ significantly from projected in forward-looking statements. The impact of news flow about bans for certain entities on the company is fairly immaterial and contemplated in the guidance provided. Broader thoughts on China: overall spending in China is more or less flat, and China growth rate is probably lower than overall WFE growth rate.
Analyst Q&A
Q: CJ Muse asked about extended lead times and visibility into 2027,
A: TJ said it's broad-based with backlogs building and strong customer engagement.
Q: Stacey Rasgun asked about 2030 model and China trajectory,
A: Rick and Brent discussed semi-revenue growth driven by pricing and China spending being flat.
Q: Harlan Suhr asked about 2026 WFE better outlook and services growth,
A: Brent said it's broad-based across segments and service trending in line with target range.
Q: Chris Senker asked about demand being real vs anticipation,
A: Mariano said customers are opening fabs and support resources are in place.
Q: Joe Quattrochi asked about process control sales vs service,
A: Brent said it drives both process control sales and service.
Q: Timothy Arcuri asked about outgrowing WFE and high NA,
A: Brent and Rick discussed alignment with WFE growth and no change in INA forecast.
Q: Charles Shi asked about metrology technology debate,
A: Rick said industry moves to highest capability tool and x-ray adoption is slow.
Q: Srini Pajuri asked about WFE number and China WFE,
A: Brent parsed out end markets and China grows at slower rate than overall WFE.
Q: Shane Brett asked about margin and advanced packaging,
A: Brent said pricing is based on value and advanced packaging market growing.
Q: Edward Yang asked about DRAM gross margin headwind and AI CapEx assumptions,
A: Brent said supply is secured and there's massive semiconductor capacity shortage.
Q: Chris Caso asked about supply cap and gross margins,
A: Brent said demand is ahead of supply and gross margin guidance is consistent with factors like memory pricing and tariff dynamics.