The earnings call presented a mix of positive strategic initiatives, such as share repurchases and high-end revenue growth, along with challenges in mainstream revenue and cautious future guidance. The company is leveraging its geographic footprint and operational efficiency despite facing revenue decline and market uncertainty.

Company Guidance -

Q3 2025

During the second quarter of fiscal 2025, Photronics reported sales of $211 million, aligning with the midpoint of their guidance range, and non-GAAP diluted EPS was $0.40. The company repurchased 3.6 million shares for $72 million, aiming for future earnings leverage. In the IC market, revenue was $156 million, a 3% year-over-year decline, with high-end revenue increasing by 2% and representing 38% of IC revenue. Gross margin stood at 37%, and operating margin was 26%, exceeding guidance by 180 basis points. The third-quarter guidance projects revenue between $200 and $208 million, and non-GAAP EPS between $0.35 and $0.41, with an operating margin of 20% to 22%. Photronics aims to address ongoing tariff uncertainties and plans to capitalize on opportunities in the high-end node market, particularly in the US amidst reshoring trends.

Strategic Share Repurchase Program

Photronics spent $72 million to repurchase 3.6 million shares, indicating confidence in the company's long-term health.

High-End Revenue Growth

High-end revenue increased 2% year over year, representing 38% of IC revenue, with strong demand for 22 and 28 nanometer automax products in Asia.

Geographic Footprint as a Strategic Asset

Photronics operates eleven cleanroom production facilities globally, allowing rapid response and mitigating potential tariff costs for customers.

Gross and Operating Margins Above Historical Levels

Gross margin was 37%, and operating margin improved 180 basis points sequentially to 26%, driven by elevated operational controls.

Photronics (PLAB) Earnings, Revenues Date & History

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PLAB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 27, 2025	2025 (Q3)	0.38 / -	0.51	―	―	―
May 28, 2025	2025 (Q2)	0.48 / 0.40	0.46	-13.04% (-0.06)
Feb 26, 2025	2025 (Q1)	0.47 / 0.52	0.48	8.33% (+0.04)
Dec 11, 2024	2024 (Q4)	0.52 / 0.59	0.6	-1.67% (-0.01)
Aug 29, 2024	2024 (Q3)	0.56 / 0.51	0.51	0.00% (0.00)
May 22, 2024	2024 (Q2)	0.55 / 0.46	0.54	-14.81% (-0.08)
Feb 21, 2024	2024 (Q1)	0.49 / 0.48	0.4	20.00% (+0.08)
Dec 13, 2023	2023 (Q4)	0.53 / 0.60	0.6	0.00% (0.00)
Sep 06, 2023	2023 (Q3)	0.52 / 0.51	0.51	0.00% (0.00)
May 24, 2023	2023 (Q2)	0.44 / 0.54	0.49	10.20% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PLAB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 28, 2025	$20.06	$16.94	-15.55%
Feb 26, 2025	$20.70	$21.10	+1.93%
Dec 11, 2024	$25.32	$28.06	+10.82%
Aug 29, 2024	$24.08	$24.92	+3.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.