Asml Holding N.v Stock Earnings Reports

ASML reported strong Q2 2026 results with total net sales of EUR 9.3bn (above guidance) driven by higher Installed Base Management (IBM) sales (EUR 2.8bn). Net system sales were EUR 6.6bn (EUV EUR 3.8bn, including one High-NA), split ~51% logic / 49% memory. Gross margin came in at ~54% (above guidance). Q2 free cash flow was EUR 1.3bn and cash/short-term investments EUR 7.6bn. Management raised full-year 2026 guidance: sales now expected EUR 43–45bn and gross margin 54–56%. Key demand drivers are aggressive capacity additions from customers across advanced logic and DRAM, rising lithography intensity (more EUV and DUV layers), and stronger upgrade/service demand. ASML expects ~65 Low-NA EUV shipments in 2026 (EUV system sales +45% YoY) and ~130 immersion DUV shipments. Non-EUV system sales are expected to grow ~25%, IBM sales >30%. ASML plans to increase Low-NA EUV capacity ~30% for 2027 and is investigating a further ~30% for 2028 (targeting ~85 units in 2027 and ~110 units in 2028 for Low-NA EUV), and similar +30% steps for immersion systems. High-NA is progressing (4–5 systems revenue-recognized in 2026) and ASML announced Intel Foundry is using High-NA for production on Intel 18A — a sign of readiness. Management emphasized continued focus on extracting more output from existing footprint (clean-room/cycle-time optimization), close customer alignment, maintaining R&D investment/maturity, and value-based pricing flexibility over time. They reiterated strong multi-year visibility but noted order lead times and that some capacity expansions are still under investigation.