MKSI
MKS Inc.
Price as of Jul 20, 2026
MKSI earnings
MKS Inc. earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $2.00 | $2.30 | +15.0% | $1.1B | +3.1% |
| Feb 17, 2026 | $2.51 | $2.47 | -1.6% | $1.0B | +2.4% |
| Nov 5, 2025 | $1.85 | $1.93 | +4.3% | $988M | +2.1% |
| Aug 6, 2025 | $1.61 | $1.77 | +9.9% | $973M | +2.8% |
| Feb 12, 2025 | $1.92 | $2.15 | +12.0% | $935M | +2.3% |
| Nov 7, 2024 | $1.45 | $1.72 | +18.6% | $896M | +2.5% |
| Feb 7, 2024 | $0.89 | $1.17 | +31.5% | $893M | +5.7% |
| Nov 1, 2023 | $1.00 | $1.46 | +46.0% | $932M | +0.0% |
| Aug 2, 2023 | $1.14 | $1.32 | +15.8% | $1.0B | +2.0% |
| May 3, 2023 | $-0.28 | $0.48 | +271.4% | $794M | -22.0% |
| Feb 27, 2023 | $1.31 | $2.00 | +52.7% | $1.1B | +9.3% |
| Nov 2, 2022 | $2.38 | $2.74 | +15.1% | $954M | +0.8% |
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• 2026 is an outstanding start for MKS with first quarter revenue, gross margin, and EPS at high end or above guidance ranges. • Semiconductor market well positioned to capitalize on Chipmaker's AI-driven CapEx plans. • Electronics and Packaging's leading position in chemistries and equipment sets up long-term growth. • Specialty Industrial portfolio expected to continue steady performance. • MCAS's strong position due to broad portfolio and design wins. • Prioritize investing in collaborative development programs with customers. • MPS teams' dedication and execution, customers' and suppliers' partnership, and shareholders' support
Guidance
• Expect revenue of $1.2 billion +/- $40M in Q2. • Semiconductor revenue expected to be $550M +/- $15M. • Electronics and Packaging revenue expected to be $350M +/- $15M. • Specialty Industrial revenue expected to be $300M +/- $10M. • Q2 gross margin estimated at 47% +/- 100 basis points. • Q2 operating expenses expected to be $275M +/- $5M. • Q2 adjusted EBITDA estimated at 328M +/- 26M. • CapEx for the year expected to be 4%-5% of revenue. • Second quarter net earnings per diluted share expected to be $2.90 +/- 30 cents
Segment performance
Semiconductor: Q1 revenue just above high end of expectations, grew 13% YOY and 7% sequentially; Electronics and Packaging: Revenues surpassed high end of expectations, up 6% sequentially and 27% YOY; Specialty Industrial: Performance steady, modest sequential decline but 8% growth YOY. Semiconductor Q2 expected to accelerate, growing high seams sequentially and over 25% YOY; Electronics and Packaging expected to grow in high single digits eventually and over 30% YOY; Specialty Industrial anticipated to be a steady contributor with attractive margins and incremental cash flows
Analyst Q&A
Q: About CENI business, are you shipping to build inventory ahead of stronger cycle?
A: Best to ask customers, but assume some is to build inventory as supply chain has revved up.
Q: Strength in laser drilling business despite smartphone unit demand concerns?
A: Driven by high-end smartphones and AI.
Q: Non-NAND opportunities for upgrades?
A: Most shipments for new tools for advanced DRAM and Logic Foundry applications, some upgrade business but not at past rate.
Q: Visibility from PCB and substrate makers?
A: Strong chemistry equipment orders indicate good visibility.
Q: Supply side metrics for WFE?
A: Fine for 2026, already planning to expand capacity for 2027.
Q: AI-related trends in packaging architectures and EMP business?
A: Boards for AI bigger with more layers, glass cores and stronger bonding are areas of opportunity, and MKS is a market leader in chemistry for bonding.
Q: SEMI conversations and outgrowing WFE?
A: Communications with customers close, MKS has historically outgrown WFE and expects to continue.
Q: Gross margin drivers and seasonality?
A: Volume, cost structure, mix including equipment and VSD business, and inflation on palladium are drivers; Q2 guide accounts for these.
Q: Consumer electronics exposure in E&P chemistry business?
A: AI is a tailwind, more levered to high-end smartphones and PCs, AI expected to make up for potential consumer electronics unit declines.
Q: Fiber alignment stage business in Datacom?
A: Part of specialty industrials, driven by AI, growing nicely.
Q: AI's size in chemistry portfolio?
A: Currently in 15% range.
Q: Updated gross margin goal?
A: Goal is 47% plus, ongoing programs to improve gross margin.
Q: Semi-market outperformance vs prior cycles?
A: Broader-based supplier now, less swing in certain markets, and denominator bigger due to less Chinese equipment OEMs.
Q: Leverage in PC maker base and electroplating market share?
A: Top 30 PCD makers are customers, broad portfolio strategy for gaining share.
Q: Tariffs impact on Q2 guide?
A: Still seeing about 30-40 bps impact included in Q2 guide.
Q: LEO market opportunity and MKSI content?
A: LEO market growing, MKS benefits from being process tool record in this growing market
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-08-05.