KLA Corporation Reports Fiscal 2026 First Quarter Results

Core Insights - KLA Corporation reported strong financial results for Q1 FY 2026, with GAAP net income of $1.12 billion and revenues of $3.21 billion, reflecting double-digit year-over-year growth [1][2][4]. Financial Performance - Total revenues for Q1 FY 2026 were $3,210 million, exceeding the guidance midpoint of $3,150 million +/- $150 million [4]. - GAAP net income was $1,121 million, with a diluted EPS of $8.47, compared to $946 million and $7.01 in Q1 FY 2025, marking a significant increase [2][4][12]. - Non-GAAP net income for Q1 FY 2026 was $1,167 million, with a non-GAAP diluted EPS of $8.81, also showing substantial growth from the previous year [2][12]. Segment Performance - The Semiconductor Process Control segment generated revenues of $2,899 million, up from $2,575 million in the same quarter last year [11]. - The Specialty Semiconductor Process segment reported revenues of $120 million, while PCB and Component Inspection segment revenues were $189 million, both showing year-over-year growth [11]. Cash Flow and Capital Returns - Cash flow from operating activities for the quarter was $1.16 billion, with free cash flow of $1.07 billion [4][10]. - Capital returns for the quarter included $799 million in share repurchases and $254 million in dividends paid to stockholders [4][10]. Guidance for Q2 FY 2026 - KLA expects total revenues for Q2 FY 2026 to be in the range of $3.225 billion +/- $150 million, with GAAP gross margin projected at 60.8% +/- 1.0% [5][14]. - The company anticipates GAAP diluted EPS to be in the range of $8.46 +/- $0.78 for the upcoming quarter [5][14].