Taiwan Semiconductor Manufacturing Company Limited (TSM)

NYSE:TSM

TSM

TSMC

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TSMC (TSM) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 16, 2026

TBA (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

3.76

Last Year’s EPS

2.61

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 6 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 16, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented multiple strong operational and financial positives: revenue and margin beats, robust AI/HPC demand, healthy cash generation, and an aggressive CapEx program targeting additional N3 and N2 capacity. Key risks and challenges were clearly articulated — ongoing supply tightness likely through 2027, margin dilution from N2 and overseas fab ramps (2%–3% near-term), rising inventory and liabilities, packaging capacity constraints, and potential input-cost pressure from geopolitical events. Management provided concrete mitigation actions (multi-site N3 expansion, converting tools, supplier diversification, safety stock) and reiterated technology leadership and commitment to profitability, which frames the challenges as manageable but real.

Company Guidance

TSMC guided a strong near-term outlook: Q1 revenue was USD 35.9B (up 6.4% sequential, 8.4% in NT), gross margin 66.2% (up 390 bps qoq), operating margin 58.1% (up 410 bps), EPS TWD 22.08 and ROE 40.5%; wafer revenue mix was N3 25% / N5 36% / N7 13% (advanced ≤7nm = 74%), platform mix HPC 61% (+20% qoq), smartphone 26% (-11%), IoT 6% (+12%), automotive 4% (-7%), DCE 1% (+28%); balance sheet showed cash & marketable securities TWD 3.4T (USD 106B) and a cash balance of TWD 3.0T, AR days 26 and inventory days 80 (up 6 days), cash from ops ~TWD 699B, Q1 CapEx TWD 351B (USD 11.1B) and a TWD 130B cash dividend distributed. For Q2 the company expects revenue USD 39.0–40.2B (≈10% sequential / ~32% YoY at midpoint), gross margin 65.5–67.5% and operating margin 56.5–58.5% (USD/TWD FX assumption USD1=TWD31.7) with a Q2 tax rate ~20% (full-year tax 17–18%); full‑year 2026 revenue is guided to grow above 30% in USD and 2026 CapEx is expected toward the high end of USD 52–56B. Management also flagged profitability headwinds and levers: N2 initial ramping is expected to dilute 2026 gross margin ~2–3% (N3 gross margin to cross corporate average in H2 2026), overseas fab ramp-up dilution of ~2–3% (early) widening to 3–4% later, potential but unquantified materials/energy cost pressure, and ongoing capacity expansions (new N3 fabs: Tainan H1’27, Arizona H2’27, Japan 2028) and productivity efforts to support demand.

Sequential and Dollar Revenue Growth

Q1 2026 revenue increased 8.4% sequentially in NT and 6.4% sequentially in USD to USD 35.9 billion, slightly ahead of company guidance.

Strong Margin Expansion

Gross margin improved by 3.9 percentage points sequentially to 66.2%; operating margin rose 4.1 percentage points to 58.1%.

Robust EPS and ROE

First quarter EPS of TWD 22.08 and return on equity (ROE) of 40.5%.

High Exposure to Leading-Edge Nodes

Advanced technologies (7 nm and below) accounted for 74% of wafer revenue; 3-nanometer contributed 25% of wafer revenue, 5-nanometer 36%, 7-nanometer 13%.

AI / HPC Demand Strength

HPC revenue grew 20% quarter-over-quarter and represented 61% of Q1 revenue; management states AI-related demand remains 'extremely robust' and raised full-year 2026 USD revenue growth target to above 30%.

Healthy Cash Generation and Dividend Commitment

Generated TWD 699 billion cash from operations in Q1; distributed TWD 130 billion dividend; cash and marketable securities reported at TWD 3.4 trillion (USD 106 billion) and cash balance increased by TWD 268 billion to TWD 3.0 trillion in the quarter. Company reiterated commitment to sustainable, steadily increasing cash dividends.

CapEx Increase to Support Demand

2026 capital budget guided toward the high end of USD 52–56 billion (implying ~USD 56 billion), with Q1 CapEx at USD 11.1 billion, reflecting stepped-up investment to expand N3/N2 capacity for AI/HPC.

Clear Multi‑Factory N3 & N2 Expansion Plan

Announced additional N3 capacity: new 3nm fab in Tainan (volume H1 2027), N3 volume in Arizona (H2 2027), N3 in Japan (2028); N2 HVM began in Q4 2025 and is ramping at Hsinchu and Kaohsiung with A14 (N2 derivative) targeted for 2028.

Productivity and Cost Improvements

Management cited cost improvement efforts, high capacity utilization and favorable FX as drivers of margin expansion; expects N3 gross margin to cross corporate average in H2 2026.

Advanced Technology Roadmap

A14 (second-generation nanosheet on N2 family) expected to deliver 10–15% speed improvement at same power or 25–30% power improvement at same speed and ~20% density gain; volume production scheduled for 2028.

TSMC (TSM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 16, 2026	2026 (Q2)	3.76 / -	2.612	―	―	―
Apr 16, 2026	2026 (Q1)	3.30 / 3.50	2.143	63.42% (+1.36)
Jan 15, 2026	2025 (Q4)	2.90 / 3.09	2.194	40.79% (+0.90)
Oct 16, 2025	2025 (Q3)	2.63 / 2.85	1.95	46.10% (+0.90)
Jul 17, 2025	2025 (Q2)	2.38 / 2.61	1.466	78.17% (+1.15)
Apr 17, 2025	2025 (Q1)	2.07 / 2.14	1.345	59.33% (+0.80)
Jan 16, 2025	2024 (Q4)	2.19 / 2.19	1.458	50.48% (+0.74)
Oct 17, 2024	2024 (Q3)	1.79 / 1.95	1.258	55.01% (+0.69)
Jul 18, 2024	2024 (Q2)	1.41 / 1.47	1.128	29.96% (+0.34)
Apr 18, 2024	2024 (Q1)	1.30 / 1.34	1.303	3.22% (+0.04)

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

TSM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 16, 2026	$375.10	$363.35	-3.13%
Jan 15, 2026	$326.38	$340.88	+4.44%
Oct 16, 2025	$303.42	$298.57	-1.60%
Jul 17, 2025	$235.96	$243.95	+3.38%

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.