United Microelectronics (UMC) Q1 2026 earnings summary

Executive summary

• Operating revenues for Q1 2026 reached NT$61,038 million (TWD 61.04 billion), up 5.5% year-over-year and nearly flat sequentially.

• Net income attributable to shareholders surged 108.1% year-over-year to NT$16,171 million, with EPS at NT$1.29 per share.

• Gross margin improved to 29.2% from 26.7% a year ago, reflecting stronger profitability.

• Wafer shipments increased 2.7% sequentially, driven by robust consumer segment demand, raising utilization to 79%.

• 22 nm logic and specialty process revenue reached a record high, accounting for 14% of total Q1 revenue.

Financial highlights

• Operating income for Q1 2026 was NT$11,276 million, up 15.2% year-over-year but down 7.8% sequentially.

• Net non-operating income reached NT$5,367 million, a significant turnaround from a loss in Q1 2025.

• Total equity reached NT$406,736 million, with cash and cash equivalents at NT$109,019 million as of March 31, 2026.

• Total assets were NT$599,932 million.

• Total comprehensive income increased 115.2% year-over-year to NT$26,322 million.

Outlook and guidance

• Q2 2026 wafer shipments expected to increase by high single digits; ASP in USD to rise by low single digits.

• Gross margin projected at approximately 30%, with utilization in the low 80% range.

• Full-year 2026 outlook remains optimistic, with expectations to outperform addressable market growth.

• Price adjustments planned for the second half of 2026 to support long-term operational health.

• 2026 foundry capital expenditure plan set at $1.5 billion USD, with 90% allocated to 12" and 10% to 8".