Ultra Clean Holdings, Inc. (UCTT) Earnings Call Transcripts

Ultra Clean Holdings, Inc.'s Latest Earnings Call - Q1 FY2026

Ultra Clean Holdings, Inc. (UCTT) reported strong financial results for Q1 2026, with revenue of $533.7 million, surpassing the prior quarter's $506.6 million. Earnings per share (EPS) increased to $0.31 from $0.24 in the previous quarter. The company provided Q2 guidance with projected revenue between $565 million and $605 million and EPS ranging from $0.44 to $0.60, indicating continued growth momentum. Management highlighted the AI-driven expansion in the semiconductor industry as a key driver for future growth.

Reported metrics

Guidance from management

For Q2 2026, UCTT projects revenue between $565 million and $605 million and EPS in the range of $0.44 to $0.60, indicating continued growth momentum.

What management said

Yes. As we previously discussed, the percentage of our China business -- domestic China business is less than 5% of our overall revenue. We maintain that kind of range. And what we see is that gradually, the domestic Chinese WFE customers will increase their share within the China WFE market. And we see also the growth opportunity as we grow the share with those Chinese customers.

Yes. Great question. So we -- as you can see that in our forecast, we're seeing close to double-digit growth quarter-over-quarter from Q1 to Q2. We expect similar range of growth going forward and for the second half.

What analysts pressed on

Analysts questioned the sustainability of WFE growth and the potential impact of customer requests on future capacity. There were also inquiries about the margin profile and product mix, with a focus on understanding the variability in gross margins across different product lines.

Main topics on the call

• AI-Driven Growth — Management emphasized the role of AI infrastructure expansion in driving demand across the semiconductor ecosystem. CEO James Xiao noted, 'The rapid expansion of AI infrastructure is fueling increased investment across t...
• WFE Demand — The company sees strong demand in wafer fabrication equipment (WFE), with expectations of 18% to 20% YoY growth in 2026. Xiao stated, 'We see the similar momentum. The customers are talking about 15% and above for 2027.'
• Revenue and Margin Improvement — Revenue increased to $533.7 million, with gross margin improving to 16.5% from 16.1% in the previous quarter. CFO Sheri Brumm attributed margin improvement to 'better product mix and higher volumes, driving factory effic...
• Financial Flexibility — The company improved its financial flexibility by refinancing its credit facility and reducing its weighted average borrowing rate from 6.2% to 1.4%.

Read the full Ultra Clean Holdings, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 Ultra Clean Holdings, Inc. earnings call transcripts on record, spanning February 19, 2020 to August 3, 2026. Based on this history, Ultra Clean Holdings, Inc. reports quarterly. The most recent call on file is dated August 3, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

UCTT

Exchange

NasdaqGS

Country

US

Sector

Information Technology

Industry

Semiconductors and Semiconductor Equipment

Calls on record

30

First call

February 19, 2020

Most recent

August 3, 2026

Reporting cadence

quarterly