ASML reported first-quarter 2026 net sales of 8.77 billion euros and net income of 2.76 billion euros, beating analyst estimates on both measures. The results exceeded the 8.5 billion euro revenue consensus and the 2.54 billion euro profit forecast.
Why it matters: ASML is the sole manufacturer of extreme ultraviolet (EUV) lithography machines, making it a bottleneck for every advanced chipmaker. Its order book is a real-time gauge of how much the semiconductor industry is investing in AI capacity.
AI spending sustains demand
The company raised its full-year 2026 revenue guidance to between 36 billion and 40 billion euros, up from a prior range of 34 billion to 39 billion euros. Management said the upgrade reflected continued strong demand from customers building out AI training and inference infrastructure.
Gross margin for the quarter came in at 53%, above the midpoint of ASML’s own guidance range. The company guided second-quarter sales between 8.4 billion and 9 billion euros with a gross margin of 51% to 52%.
The monopoly advantage
No other company makes the EUV machines required to produce the most advanced chips. TSMC, Samsung, and Intel all depend on ASML’s equipment. This gives the Dutch firm unusual visibility into global semiconductor capital spending plans months or years ahead.
Order intake remains strong, according to CEO Christophe Fouquet, who said the company is working closely with customers to support demand through new system deliveries and upgrades to its installed base.
Export controls loom
ASML flagged ongoing uncertainty around export restrictions, particularly on shipments to China. The Dutch government tightened controls on advanced lithography exports in 2023 under US pressure, and further restrictions remain possible. ASML said it continues to comply with all applicable regulations.
Shares traded higher in Amsterdam following the results.