April 15, 2026

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ASML Holding N.V. (NASDAQ: ASML) reported first-quarter 2026 results above expectations, supported by strong semiconductor equipment demand, AI-related infrastructure spending, and continued customer capacity expansion.
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ASML is a Dutch semiconductor equipment company that supplies lithography systems used by chipmakers to manufacture advanced semiconductors. The company is a key supplier to the global chip industry, especially for advanced-node production.
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The dashboard showed EPS of $8.81, above estimates of $7.98, representing a 10.4% earnings surprise. Revenue came in at $10.84 billion, above estimates of $10.28 billion, with revenue growth of 24.2%.
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One note before publishing: ASML reports its official results in euros. The company reported first-quarter total net sales of €8.8 billion and basic EPS of €7.15, while the dashboard appears to show U.S. dollar-based figures.

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Results Beat Expectations

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ASML reported total net sales of €8.8 billion, compared with €9.7 billion in the fourth quarter of 2025.
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Gross profit was €4.6 billion, with gross margin of 53.0%, at the high end of the company’s guidance.
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Net income was €2.8 billion, compared with €2.8 billion in the prior quarter.
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Basic EPS was €7.15.
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Installed Base Management sales, which include service and field option sales, increased to €2.5 billion from €2.1 billion in the fourth quarter.
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ASML sold 67 new lithography systems and 12 used lithography systems during the quarter.

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AI Demand Supported the Outlook

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Management said the semiconductor industry’s growth outlook continues to strengthen, driven by AI-related infrastructure investments.
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CEO Christophe Fouquet said demand for chips is outpacing supply, leading customers to accelerate capacity expansion plans for 2026 and beyond.
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The company said customers have increased their expected short- and medium-term demand for ASML products in recent months.
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ASML also said order intake remains very strong, supported by demand for new systems and performance upgrades across its installed base.

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Guidance Raised for 2026

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For the second quarter of 2026, ASML expects total net sales of €8.4 billion to €9.0 billion, with gross margin of 51% to 52%.
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The company expects R&D costs of around €1.2 billion and SG&A costs of around €0.3 billion.
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For full-year 2026, ASML now expects total net sales of €36 billion to €40 billion, with gross margin between 51% and 53%.
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Management said the outlook includes potential outcomes from ongoing export control discussions.

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Dividend and Buyback

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ASML intends to declare a total dividend of €7.50 per ordinary share for 2025, representing a 17% increase from 2024.
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The company also repurchased about €1.1 billion worth of shares during the first quarter under its 2026 to 2028 share buyback program.

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Market Focus

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Investors are likely watching AI-driven chip demand, customer capacity expansion, EUV and lithography system orders, installed base sales, gross margin, export control risk, capital returns, and whether ASML can deliver on its higher 2026 revenue outlook.
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The earnings beat was positive, but the bigger signal was management’s confidence that chip demand and customer expansion plans can support another growth year.

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The Bigger Picture

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ASML’s quarter showed continued strength in the AI semiconductor supply chain.
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Revenue and earnings beat expectations, gross margin came in at the high end of guidance, and management raised its full-year revenue outlook. The company also pointed to stronger short- and medium-term customer demand, driven by chipmakers expanding capacity for AI-related infrastructure.
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The key question is whether export controls or timing of customer capacity plans could limit how much of that demand converts into shipments.
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