Ichor Holdings (ICHR) Q3 2026 Earnings
Non-GAAP EPS excludes share-based compensation of $2.8 million, intangible amortization of $1.9 million, a $0.8 million loss accrual for expected settlements of employment-related legal matters, and related tax adjustments of $(2.3) million; GAAP diluted EPS was $0.55
How Did ICHR Stock React to Q3 2026 Earnings?
Did ICHR Beat Earnings? Q3 2026 Results
Yes. Ichor Holdings reported Q3 2026 earnings of $0.63 a share on Nov 2, 2026, beating the $0.45 consensus estimate by 38.8%. Revenue was $328.7M against a $330.1M estimate.
Ichor Holdings delivered a sharply profitable third quarter of 2026, posting adjusted non-GAAP EPS of $0.63 against a consensus estimate of $0.45, a beat of 38.83%, even as revenue of $328.70 million came in just fractionally below the $330.10 million estimate. The top line still represented 37.4% growth from a year ago, and the earnings strength traced directly to three consecutive quarters of gross margin expansion driven by two structural changes: a realignment of the global manufacturing footprint toward high-volume sites and a steady increase in proprietary Ichor content. GAAP gross margin reached 15.8%, compared with just 4.6% in Q3 2025, when the year-ago quarter absorbed a $16.71 million inventory impairment charge. GAAP net income came in at $20.95 million, against a loss of $22.85 million a year prior. Cash flow remained a watch item, with operating activities consuming $28.83 million as inventories and receivables expanded alongside rapid growth. Looking ahead, Ichor guided Q4 2026 revenue of $345 million to $365 million and non-GAAP EPS of $0.65 to $0.75, citing robust customer demand with visibility extending well into 2027.
- Revenue of $328.7 million, up 12% from Q2 2026 and up 37% from Q3 2025
- GAAP gross margin of 15.8% vs 13.9% in Q2 2026 and 4.6% in Q3 2025; non-GAAP gross margin of 16.0%
- GAAP operating margin of 6.9% vs 2.4% in Q2 2026; non-GAAP operating margin of 8.6% vs 5.5%
- Realignment of global footprint into volume manufacturing sites
- Steady increase in proprietary Ichor content
- Lower operating expenses sequentially ($29.2 million vs $33.8 million) and lower interest expense
“We are pleased to report another quarter of strong growth and expanding profitability, as the strategic priorities we laid out a year ago continue to translate into results.”
Ichor Holdings CEO, on the earnings call
What Is Ichor Holdings's Outlook?
For Q4 2026, Ichor expects revenue of $345 million to $365 million (midpoint $355 million). It guides GAAP diluted EPS of $0.50 to $0.60 (midpoint $0.55) and non-GAAP diluted EPS of $0.65 to $0.75 (midpoint $0.70). The non-GAAP outlook excludes about $1.9 million of intangible amortization and about $4.0 million of share-based compensation, plus related tax effects. Management expects continued sequential growth in revenue, gross margin, and EPS, cites customer demand visibility extending well into 2027, and expects structural operating model improvements to drive further earnings leverage.
ICHR YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $328.7M | $239.3M | +37.4% |
| Gross Profit | $52.0M | $28.1M | +85.0% |
| Operating Income | $22.8M | $7.2M | +217.4% |
| Net Income | $20.9M | $7.2M | +191.7% |
Figures from SEC filings and company reports. Not investment advice.