ASM stock faces new growth test after record third quarter

ASM International reported record third-quarter revenue on October 27, 2026, and lifted its medium-term growth outlook as demand for advanced chipmaking equipment accelerated. The company said revenue reached EUR 1,159 million, while the board authorized a new share buyback of up to EUR 300 million. The results were published in a company press release carried by GlobeNewswire.

Record quarter strengthens growth case

Third-quarter revenue increased 45 percent year over year as reported and 44 percent at constant currencies. The result was at the upper end of ASM's guidance and compared with EUR 1,003.1 million in the second quarter and EUR 800.0 million a year earlier.

Advanced logic and foundry sales led the quarter, supported by customer investment in 2nm and increased activity at 3nm to 5nm. ASM also reported a first solid contribution from 1.4nm investments, strong memory sales linked to high-bandwidth memory-related DRAM demand and robust mature logic and foundry sales.

Gross margin held at 52.0 percent. Adjusted operating margin rose to 33.4 percent from 30.9 percent a year earlier, while adjusted net earnings increased to EUR 315.4 million from EUR 206.2 million. CEO Hichem M'Saad said the industry demand environment remained very strong, with customers moving quickly to expand output as capacity stayed tight.

2027 outlook moves ahead

ASM expects fourth-quarter 2026 revenue of EUR 1,230 million, plus or minus 5 percent, at constant currencies. Based on that forecast, full-year 2026 revenue is expected to increase by about 35 percent, with equipment revenue growing by more than 40 percent.

For 2027, management projects revenue above EUR 5.7 billion at constant currencies. ASM said that level would deliver the revenue target set for 2030 at its 2025 Investor Day three years ahead of plan. The company expects advanced logic and foundry to be the strongest growth driver, supported by further 2nm-related sales and momentum in 1.4nm.

ASM also expects strong memory growth. Mature logic and foundry sales are expected to remain relatively stable, while recovery in power, analog and wafer segments is expected to strengthen. The outlook assumes no material changes in the regulatory environment.

Buyback adds shareholder-return support

The previous EUR 150 million buyback was completed on September 14 after the company repurchased 185,522 shares at an average price of EUR 808.53. On October 27, the management board authorized a new program of up to EUR 300 million, with further details to be announced before it begins.

ASM stock traded at 728.90 euros on Lang & Schwarz at 09:12 CET on Monday, November 2, 2026. Investors are weighing stronger semiconductor demand and higher forward expectations against tight supply chains and the execution risk attached to a rapid capacity ramp. The real-time quote of ASM stock is available separately.

Broader conditions for Dutch technology shares can be followed through the AEX market overview.

ASM's next scheduled earnings milestone is its fourth-quarter and full-year 2026 reporting, while the company is expected to provide more information on the new buyback before its commencement. More news and analyses on ASM stock remain available for investors tracking the semiconductor equipment cycle.