Veeco Instruments Inc. (VECO) Earnings
Veeco Instruments Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $0.26. VECO has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise -7.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.20 | $0.14 | -30.0% | $158M | -1.1% |
| Feb 25, 2026 | $0.25 | $0.02 | -92.6% | $165M | -0.5% |
| Nov 5, 2025 | $0.28 | $0.36 | +28.6% | $166M | -0.2% |
| Aug 6, 2025 | $0.22 | $0.36 | +63.6% | $166M | +4.5% |
| May 7, 2025 | $0.32 | $0.37 | +15.6% | $167M | +0.8% |
| Feb 12, 2025 | $0.40 | $0.41 | +2.5% | $182M | +3.3% |
| Feb 14, 2024 | $0.43 | $0.51 | +18.6% | $174M | +2.7% |
| Feb 15, 2023 | $0.35 | $0.38 | +8.6% | $154M | -4.7% |
| Feb 16, 2022 | $0.36 | $0.43 | +19.4% | $153M | +1.3% |
| Nov 2, 2021 | $0.35 | $0.40 | +14.3% | $150M | +2.6% |
| Aug 3, 2021 | $0.27 | $0.35 | +29.6% | $146M | +0.0% |
| May 4, 2021 | $0.22 | $0.25 | +13.6% | $134M | +6.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Ricoh executed well in the first quarter and is strategically positioned to benefit from the evolving semiconductor landscape driven by AI and high-performance computing. Top five key takeaways: poised to benefit from industry inflection driven by global build out of AI infrastructure; order activity accelerated into first quarter of 2026 with expanding pipeline; stronger than expected opportunity in compound semiconductor market for indium phosphide lasers; expanding manufacturing footprint and capacity to support customer demand; increased visibility with significant orders for delivery well into 2027. VECO's critical role in semiconductor manufacturing landscape: capital spending driven by AI investments, LSA platform is production tool of record at Tier 1 Logic customers, next generation nanosecond annealing platform progressing, expanding penetration in memory customers, Beco is market leader in ion beam deposition for EUV mass clients, advanced packaging is significant revenue driver. Stronger momentum in compound semiconductor market: industry transitioning from copper to optics, indium phosphide laser manufacturing a critical component, NICO plays critical role in indium phosphide laser manufacturing process, received over $250 million in orders for MOCBD, wet processing, and ion beam deposition tools to support manufacturing of indium phosphide lasers, projected served available market in compound semispace.
Guidance
Second quarter revenue is expected to be between $170 and $190 million. Gross margin is expected to be between 38 and 40 percent. Expect OPEX between $52 and $55 million, net income between $12 and $21 million, and diluted EPS between 20 and 32 cents on 64 million shares. Reiterating full-year 2026 revenue guidance between $740 and $800 million, with growth accelerating in the second half of the year, and reiterating diluted non-GAAP EPS between $1.50 and $1.85. Semiconductor market expected to have strong growth from Tier 1 customers driven by AI and high-performance computing, advanced packaging and wet processing systems to contribute. Compound semiconductor market sees strong growth in silicon photonics and emerging opportunities. Data storage secured orders and has strong customer engagement.
Segment performance
Revenue was $158 million. Semiconductor business reported $109 million, a 1% decline, comprising 69% of revenue. Compound semiconductor revenue totaled $19 million, a 6% decline from the prior quarter, totaling 12% of revenue. Data storage revenue was $10 million, flat to the prior quarter, representing 6% of revenue. Scientific and other revenue declined 16% to $20 million, comprising 13% of revenue. Revenue from Asia Pacific region, excluding China, was 57%, no change from the prior quarter. U.S. accounted for 20% of revenue, an increase from the previous quarter. China portion was 13% of revenue, a decrease from the previous quarter. EMEA and the rest of the world accounted for 10% of revenue. First quarter gross margin came in at 36%, operating expenses totaled $49 million, income tax expense was approximately $1 million, resulting in an effective tax rate of approximately 11%, net income was approximately $9 million, and diluted EPS was 14 cents on 62 million shares.
Analyst Q&A
Q: Dennis Hatchinan asked about the start of shipping against $250 million orders, lead times and capacity for systems, and gross margin decline.
A: Shipping starts in Q3, Spectre IBD capacity to increase 10x, wet processing looking to expand capacity, gross margin decline due to one less LSA system to China customer requiring BIS license.
Q: David Dooley asked about the $250 million order's tool volume, competitive dynamics, and GAN opportunity.
A: Three tools involved, laser facet coding has strong incumbent position, epitaxy is second source, wet processing has strong position, GAN opportunity is squarely targeted at AI data centers with pilot line tool order.
Q: Gus Richard asked about levers to hit full-year range, lead times for spectra, and evals for memory market.
A: Levers in semiconductor piece, spectra lead times around nine months, evals extended to end of 2026 with engineering work left.
Q: David Dooley asked about hard disk drive business growth profile and capacity expansion for 2027.
A: Looking to double disk drive business in 2026 with second half loaded, first system shipment planned in Q2, ramping in Q3 and Q4, taking steps to increase capacity for 2027.