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5N Plus Inc (TSE:VNP)
TSX:VNP
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.19Last Year’s EPS
0.15Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial momentum for FY2025: double-digit revenue growth, record adjusted EBITDA, high segment margins, substantial backlog, strategic customer contracts, capacity expansions, and an improved balance sheet. Management was cautious about near-term margin headwinds driven by accelerated maintenance, rising input costs, and the timing of client releases. Strategic investments (e.g., USD 18.1M germanium award) and multi-year contracts provide structural support, while several risks remain manageable and largely acknowledged. Overall the positive achievements and forward visibility materially outweigh the near-term operational and cost challenges.Company Guidance
Record Annual Financial Performance
Total revenue increased 35% year-over-year to $391.1 million in FY2025. Adjusted gross margin rose 44% to $131.8 million (33.7% of sales). Adjusted EBITDA was a record $92.4 million, up 73% versus prior year.
Specialty Semiconductors — Strong Growth and Profit Contribution
Specialty Semiconductors revenue reached $285.4 million for the year (up 41% YoY) and contributed $70.1 million of adjusted EBITDA (up 59%). Q4 revenue was up 47% YoY to $76.2 million. Backlog remains extended (265 days), providing multi-year visibility.
Performance Materials — High Margins and Improved Mix
Full-year Performance Materials revenue was $105.7 million (up 22% YoY). The segment delivered an exceptional adjusted gross margin of 42.4% of sales for FY2025. Q4 revenue rose 36% YoY to $25.8 million and Q4 adjusted gross margin improved to 40.9% (from 33.5% prior-year). Full-year adjusted EBITDA for the segment increased 59% to $35.1 million.
Major Customer Agreements and Capacity Expansion
A strategic thin-film semiconductor supply agreement increased volumes by 33% for 2025–26 and an additional ~25% for the subsequent term through 2028 (take-or-pay nature). AZUR solar cell production capacity was expanded by 30% in 2025, with a planned additional ~25% capacity coming online starting in H2 2026.
U.S. Government Support for Strategic Supply Chain
Received a USD 18.1 million award to expand germanium recycling and refining capacity at St. George, Utah — strengthening domestic supply chains for optics and SPACE Solar applications and supporting future upstream integration.
Stronger Balance Sheet and Cash Generation
Net debt dropped materially from $100.1 million at end-2024 to $50.3 million at end-2025. Net debt-to-EBITDA was 0.5x at year-end, reflecting strong cash flow generation and prudent balance sheet management.
Disciplined, Conservative 2026 Guidance
Management provided FY2026 adjusted EBITDA guidance of $100–$105 million (midpoint implies ~11% YoY growth), with a higher contribution expected in H2. Management emphasizes conservative assumptions and a measured approach to capacity investments.
Robust Multi-year Pipeline
Management reported a robust project pipeline extending beyond 2028 (SPACE Solar) and multi-year visibility in renewables (renewable backlog >3 years for certain customers), supporting long-term demand visibility.
TSE:VNP Earnings History
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
TSE:VNP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | C$29.28 | C$29.93 | +2.22% |
Nov 03, 2025 | C$20.76 | C$19.45 | -6.31% |
May 07, 2025 | C$6.66 | C$7.43 | +11.56% |
Feb 25, 2025 | C$6.93 | C$6.69 | -3.46% |
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.
FAQ
When does 5N Plus Inc (TSE:VNP) report earnings?
5N Plus Inc (TSE:VNP) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is 5N Plus Inc (TSE:VNP) earnings time?
5N Plus Inc (TSE:VNP) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:VNP EPS forecast?
TSE:VNP EPS forecast for the fiscal quarter 2026 (Q1) is 0.19.