INFICON raised its full-year guidance. Against a backdrop of demand for semiconductor manufacturing equipment and the AI investment boom, it raised its outlook for full-year 2026 revenue and operating margin, sending its share price up more than 6%.
INFICON raised its full-year 2026 revenue outlook from the previous range of $750 million-$780 million to $820 million-$850 million. It also raised its operating margin outlook from the previous 19%-20% to 21%-22%.
Third-quarter revenue was $233.3 million, up 42.4% year on year and 17.7% quarter on quarter, while operating income surged to $59.5 million. Net income was $47.4 million, operating cash flow was $77.6 million, and cash and short-term investments increased to $220.5 million.
The semiconductor and vacuum coating segment posted revenue of $135.4 million, up 74.7% year on year, accounting for 58% of total group revenue. By region, revenue was $73.2 million in China, $65.4 million in Asia-Pacific, $50.1 million in the Americas and $43.4 million in Europe, with all regions increasing from the same period a year earlier.
Jefferies, the brokerage, viewed INFICON's share price at CHF170 as having 18% upside and set a price target of CHF200. Orders exceeded the previous quarter's record high, while the book-to-bill ratio was well above 1, indicating resilient demand.
INFICON stated that it would expand production capacity, while supply chain disruption and rising logistics and materials costs were flagged as risks to its earnings outlook.