Key Highlights

  • Q1 net profit reached €2.76 billion with revenue totaling €8.77 billion, exceeding Wall Street forecasts
  • Company increased 2026 revenue projections to €36–€40 billion from previous €34–€39 billion estimate
  • Chief executive highlights that semiconductor demand continues outstripping manufacturing capacity, prompting customers to accelerate facility buildouts
  • Company targets delivery of 60 low-NA EUV systems in 2026, representing a 25% jump from 2025 shipments
  • Congressional legislation in the US threatens potential restrictions on Chinese equipment purchases, adding uncertainty to revenue mix

ASML delivered robust first-quarter financial results and enhanced its annual revenue forecast, citing accelerating demand for advanced lithography equipment fueled by artificial intelligence infrastructure development.

The company posted €2.76 billion in net profit during the opening quarter, with revenue hitting €8.77 billion. Wall Street consensus had anticipated €2.55 billion in profit alongside €8.63 billion in sales, according to FactSet data.

Management at the Netherlands-based firm updated its 2026 revenue expectations to a range spanning €36 billion to €40 billion. This represents an upgrade from the prior €34 billion to €39 billion outlook, marking approximately 4% growth at the range’s center point.


ASML Stock Card
ASML Holding N.V., ASML

Chief Executive Christophe Fouquet highlighted that customer demand currently exceeds available production capacity. “Our customers are accelerating their capacity expansion plans for 2026 and beyond, supported by long-term agreements with their customers,” he stated.

ASML maintains dominance in the EUV lithography sector — producing the specialized machinery essential for manufacturing cutting-edge semiconductors. Individual systems can command prices reaching $400 million.

Expanded Equipment Deliveries Planned

Chief Financial Officer Roger Dassen indicated the company anticipates delivering 60 units of its popular low-NA EUV technology throughout this year. This volume represents a 25% increase compared to 2025 shipments. Dassen further mentioned production capacity will support 80 unit deliveries in 2027.

TSMC disclosed substantial capital investments in manufacturing expansion recently, boosting investor confidence in ASML’s growth trajectory. Memory chip manufacturers Samsung and SK Hynix are similarly committing significant resources to production facilities.

ASML shares have climbed approximately 40% year-to-date. American depositary receipts advanced 0.7% during Tuesday’s extended trading session.

Management announced the discontinuation of quarterly order book disclosures, eliminating a metric investors historically relied upon for assessing business momentum.

Chinese Market Dynamics Remain Under Scrutiny

ASML’s revenue concentration in China continues drawing attention. A bipartisan coalition of US lawmakers recently put forward the MATCH Act, legislation aimed at tightening semiconductor equipment export controls targeting China.

Company guidance projects China contributing 20% of 2026 revenue. This forecast mirrors the estimate provided for 2025, though actual Chinese revenue ultimately represented roughly one-third of total sales that year.

Jefferies analyst Janardan Menon observed that the upgraded guidance appears partially driven by immersion lithography segment strength, where management had previously anticipated declines linked to reduced Chinese demand. He suggested this development “could partially reflect MATCH Act-related accelerated buying” as Chinese firms stockpile equipment ahead of potential new restrictions.

CFO Dassen explained the revised guidance incorporates “potential outcomes of the export control discussions that are currently ongoing.”

ASML shares showed modest declines during Wednesday’s pre-market session following the earnings announcement.