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Veeco Instruments Inc. (VECO)
NASDAQ:VECO
Earnings Data
Report Date
May 11, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.19Last Year’s EPS
0.37Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call delivered a cautiously optimistic tone: 2025 showed mixed results with overall revenue down 7%, but the company reported record semiconductor revenue, a 35% backlog increase, doubled advanced packaging sales, strong product traction (LSA, IBD300, Propel, Lumina), a solid cash position, and a bullish 2026 guide (midpoint +16%). Key near-term risks include product-mix margin pressure, tariff headwinds (~100 bps), segment declines (compound semi, data storage in 2025), rising inventory, and pending regulatory clearance in China for the Axcelis merger. Overall, the momentum in orders, backlog, product wins, and 2026 guidance outweigh the 2025 weaknesses.Company Guidance
Record Semiconductor Revenue and Strong FY Financials
Full-year 2025 revenue was $664 million (down 7% YoY), while semiconductor revenue reached a record $477 million, up 2% YoY and representing 72% of total revenue. Full-year non-GAAP gross margin was 41%, operating income was $84 million, net income was $80 million, and diluted EPS was $1.33.
Substantial Backlog Increase Supporting 2026 Growth
Order backlog ended 2025 at $555 million, up $145 million (35% growth) year-over-year, providing strong visibility and positioning revenue growth primarily in the second half of 2026.
Aggressive 2026 Guidance Reflecting Momentum
Management guided full-year 2026 revenue to $740–$800 million (midpoint $770M, ~16% growth vs. 2025). Gross margin guide is 41–43% with diluted EPS of $1.50–$1.85, indicating management expects meaningful recovery and margin expansion.
Product Wins and Customer Traction (LSA, IBD, Propel, Lumina)
Notable product milestones include LSA evaluation system shipped to a second Tier 1 DRAM customer, two IBD300 evaluations extended into 2026, orders for the new Propel 300mm GaN-on-silicon system, and Lumina+ arsenide phosphide orders — all driving expected revenue growth in H2 2026 and beyond.
Advanced Packaging Surge
Advanced packaging revenue doubled to $150 million in 2025 from $75 million in 2024 (100% increase), driven by wet processing and lithography tool demand related to AI and heterogeneous integration.
Strong Cash Position and Operational Cash Flow
Cash and short-term investments totaled $390 million at year-end (up $21M sequentially). Cash flow from operations for the year was $69 million, and CapEx for 2025 totaled $16 million.
Market Exposure Aligned with AI and HPC Trends
Management highlighted secular growth opportunities: annealing SAM projected to $1.3B by 2029, IBD/EUV and pellicle SAM to $500M by 2029, and advanced packaging SAM to $650M by 2029. Leadership positions (e.g., production LSA at 3 Tier 1 logic customers and IBD EUV leadership) support these opportunities.
Shareholder Approval of Axcelis Merger
Shareholders approved the all-stock merger with Axcelis on February 6, 2026. Management expects to complete the transaction in H2 2026 subject to final regulatory clearance (China remains an outstanding approval).
VECO 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
VECO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $28.46 | $30.67 | +7.77% |
Nov 05, 2025 | $29.45 | $29.15 | -1.02% |
Aug 06, 2025 | $19.94 | $22.94 | +15.05% |
May 07, 2025 | $18.89 | $19.90 | +5.35% |
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 Veeco Instruments Inc. (VECO) report earnings?
Veeco Instruments Inc. (VECO) is schdueled to report earning on May 11, 2026, Before Open (Confirmed).
What is Veeco Instruments Inc. (VECO) earnings time?
Veeco Instruments Inc. (VECO) earnings time is at May 11, 2026, Before Open (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 VECO EPS forecast?
VECO EPS forecast for the fiscal quarter 2026 (Q1) is 0.19.