Photronics Inc Q2 Revenue Dips 0.5%

By Bobby Samwell • Thursday, May 28 11:10 • Permanent Link

Photronics said second-quarter fiscal 2026 revenue slipped to $209.9 million, down 0.5% from a year earlier and down 6.7% from the first quarter.

Net income attributable to shareholders rose sharply from the prior-year quarter to $31.4 million, or $0.54 per diluted share, versus $8.9 million, or $0.15 per share, in the second quarter of 2025. But that was below the first quarter’s $42.9 million, or $0.74 per share.

On a non-GAAP basis, net income attributable to shareholders was $24.9 million, or $0.42 per diluted share, up from $24.3 million, or $0.40 per share a year ago, but down from $35.7 million, or $0.61 per share in the prior quarter.

The company’s IC revenue fell to $147.5 million, down 5% year over year and 11% sequentially. FPD revenue moved the other way, climbing to $62.4 million, up 13% from a year earlier and 4% from the first quarter.

Photronics ended the quarter with $637.7 million in cash, cash equivalents and short-term investments. Of that total, $477.3 million was tied to joint ventures in which it owns 50.01%.

Cash from operating activities came in at $47.0 million, while capital expenditures for organic growth were $45.8 million.

For the third quarter, Photronics guided for revenue of $207 million to $215 million, operating margin of 18% to 20%, and non-GAAP diluted EPS of $0.39 to $0.45. The market has reacted to these announcements by moving the company's shares -34.59% to a price of $35.0017. If you want to know more, read the company's complete 8-K report here.

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