The Quarter in Brief
ASML Holding, the Dutch maker of the lithography machines that print the patterns on computer chips, reported its third quarter of 2026, the three months ended September 27, before the US market opened on October 14. Total net sales were a record €11.66 billion, up 55% from €7.52 billion a year earlier and near the top of the company's own range of €11.0 to €12.0 billion. Net income was €4.96 billion and earnings per share were €12.95, up 136% from €5.49. ASML reports in euros under US accounting rules (US GAAP) and gives no "adjusted" earnings figure, so these are the reported numbers.
Against expectations the picture was mixed. Financial Modeling Prep's consensus, kept in US dollars, was about $13.14 billion of revenue and $12.17 of earnings per share; converted to dollars, FMP puts the results at $12.97 billion and $14.52, so sales fell slightly short and earnings came in well ahead. Part of that earnings gain was a one-off: a €510 million increase in the value of ASML's stake in the AI company Mistral AI. What made the quarter different was demand. ASML now says that its planned output for 2027 and 2028 will not fully meet what customers want, and that some are asking to place orders for 2029 and 2030.