Powerchip Semiconductor Manufacturing (6770) Q1 2026 earnings summary

Executive summary

• Operating revenue for Q1 2026 reached NT$13,572 million, up 22% year-over-year, driven by growth in specialty logic and memory products.

• Net income surged to NT$14,231 million, reversing a net loss in Q1 2025.

• EPS was NT$3.36, a significant turnaround from negative EPS in prior quarters.

• Gross margin improved to 10% from negative in Q1 2025, reflecting higher selling prices and reversal of inventory write-downs.

• Major one-time gain of NT$20,130 million from disposal of plant buildings and facilities.

Financial highlights

• Gross profit for Q1 2026 was NT$1,388 million, up 359% year-over-year.

• Operating expenses increased to NT$2,530 million, up 21% year-over-year.

• Cash and cash equivalents rose to NT$25,559 million, up 10% year-over-year.

• Total equity increased 10% year-over-year to NT$96,577 million.

• Basic EPS: NT$3.36, up from a loss per share of NT$0.26.

Segment performance

• Foundry wafer shipments were 415,000, up 12% year-over-year.

• Utilization rate improved to 88%, up from 73% in Q1 2025.

• Sales by geography: Taiwan 52%, Europe & America 27%, Asia 21% in Q1 2026.

• Sales by technology: 24/25/28nm accounted for 28%, 0.18um for 22%, and 30nm for 15%.

• Sales by customer: Fabless customers made up 83% of sales, IDM 17%.