MKSI earnings analysis
What we found in MKSI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
MKS Inc. reported Q1 2026 earnings with revenue of $1,078 million and diluted EPS of $2.30, both surpassing analyst estimates. The company experienced robust segment growth primarily in Semiconductor and Electronics & Packaging divisions, although they faced a slight decline in the Specialty Industrial segment. The outlook remains positive with management highlighting strong demand particularly driven by AI technologies.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeded Estimates
- Actual Q1 2026 revenue was $1,078 million, surpassing estimates of $1,046 million by 3.1%.
- Strong EPS Performance
- Reported diluted EPS was $2.30, exceeding consensus estimates of $2.04, reflecting a surprise of 12.8%.
- Segment Growth in Semiconductor
- Net revenues in the Semiconductor market increased by $53 million, or 13%, year-over-year.
- Electronics & Packaging Revenue Growth
- Net revenues grew by $68 million, or 27%, compared to the same period last year.
- Cash & Cash Equivalents Stability
- Cash and cash equivalents decreased to $569 million from $675 million quarter-over-quarter.
- Operational Cash Flow Improvement
- Net cash provided by operating activities was $53 million for Q1 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Dependence on AI Demand
- There's heightened risk stemming from reliance on the growing AI sector amidst economic fluctuations and demand shifts.
- Foreign Trade Risks
- Trade restrictions in key markets, particularly with regards to China, could impact revenue streams, especially in the Semiconductor sector.
- Debt Levels and Servicing
- The company reported a notable debt with total borrowings for Credit Facilities at $1.2 billion, creating refinancing risks.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.3
- Gross margin
- 47.0%
- Operating margin
- 13.8%
- Segment
- VSD
- Segment
- PSD
- Segment
- MSD
What they said about what is next.
Management anticipates revenue between $1,160 million and $1,240 million for Q2 2026, and EPS guidance is projected between $1.80 and $2.38.
The filing reads better than the one before it.
What came before.
- 10-K · February 24, 2026
- MKS Inc. reported strong performance in 2025, with revenue reaching $3.93 billion, up 9.6% year-over-year, driven primarily by growth in the semiconductor and electronics markets. However, a substantial increase in…
- 10-Q · November 6, 2025
- MKS Instruments (MKSI) reported an impressive third quarter, with revenue of $988 million, exceeding expectations and showing a 10.5% increase from the prior quarter. EPS for the quarter was $1.93, beating consensus…
- 10-Q · August 7, 2025
- MKS Instruments reported strong results in its Q2 2025 10-Q filing, with significant revenue growth and EPS surpassing estimates. Revenue for the quarter reached $973 million, a 9.2% increase from the prior quarter,…
- 10-Q · May 8, 2025
- MKS Instruments, Inc. reported solid performance for Q1 2025, with revenue of $936 million, a 7.7% increase from Q4 2024 and 7.8% from Q1 2024. Gross margin remained stable at 47.4%, while diluted EPS was $0.77, down…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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