ASML Holding N.V. (ASML) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to ASML's Q1 twenty twenty six results video. Welcome Christophe and Roger. Roger, if I could start with you and ask you to give us a summary of our Q1 twenty twenty six results. For the quarter, total net sales came in at CHF8.8 billion. That was within guidance. Included in the CHF8.8 billion was CHF2.5 billion for installed base revenue. That was a little bit above the guidance. If you look at the gross margin for Q1, 53%. That was at the high end of the gross margin that we guided. If you look at the installed base business, as I just mentioned, the installed base business was higher than we anticipated. But also, if you look at the components in the installed base business, there were components in there that actually commanded quite some strong gross margins. As a result of that, pretty high gross margins, 53%. Net income for the quarter, CHF2.8 billion. Can you also provide us with a guide for Q2 twenty twenty six results, please? For Q2, we CHF8.4 billion to CHF9 billion of total net sales included in there, again CHF2.5 billion of installed base business. We expect the gross margin to be between 5152%. Christoph, I can switch to you and can I ask you to give us an outlook on the market and how you're seeing things at the moment? Well, think we see that the semiconductor industry growth continued to solidify. This is still very much driven by investment in AI infrastructure. So this translates into a lot of demand for advanced memory, for advanced logic and we expect in fact that the supply will not meet the demand for the foreseeable future. So this is creating a strong constraint in the end markets from AI to mobile and PC and as a result our customer is strongly invited to create more capacity. So if we look at memory, what our customer t...