Q3 25 EPS
$0.07
MISS 40.98%
Est. $0.12
Q3 25 Revenue
$239.3M
BEAT +1.77%
Est. $235.1M
vs S&P Since Q3 25
+389.3%
BEATING MARKET
ICHR +397.9% vs S&P +8.6%
Market Reaction
Did ICHR Beat Earnings? Q3 2025 Results
Ichor Holdings delivered a split verdict in Q3 2025, beating on revenue while falling well short on earnings, as a $17.59 million restructuring charge tied to the company's newly initiated Consolidation Restructuring Plan weighed heavily on the botto… Read more Ichor Holdings delivered a split verdict in Q3 2025, beating on revenue while falling well short on earnings, as a $17.59 million restructuring charge tied to the company's newly initiated Consolidation Restructuring Plan weighed heavily on the bottom line. Revenue of $239.30 million came in above the $235.14 million consensus estimate, rising 13.3% year-over-year on accelerating gas panel integration deliveries to primary etch and deposition customers, but GAAP EPS of $0.07 missed the $0.12 consensus by 40.98%, with GAAP gross margin collapsing to 4.6% from 13.2% a year earlier as inventory impairments and facility exit costs tied to operations in Scotland and Korea cut deep. Non-GAAP gross margin held more steadily at 12.1%, reflecting the one-time nature of the charges. Looking ahead, management guided Q4 revenue to a midpoint of $220.00 million, characterizing the quarter as a trough driven by demand pull-ins from core customers in Q3, while expressing confidence that a recovery in non-core served markets and continued etch and deposition strength would restore earnings leverage through 2026.
Key Takeaways
- • Acceleration of gas panel integration deliveries driven by strengthened customer demand for etch and deposition
- • Year-to-date revenues of $724 million representing 18% growth year-over-year, outpacing overall WFE growth
- • Further softening in other served markets pressured gross margin and profitability
- • Inventory impairment of $16.7 million related to Consolidation Restructuring Plan
- • Recovery in operating cash flow to $9.2 million from negative $7.5 million in Q2
ICHR YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“The customer demand environment for etch and deposition strengthened during the third quarter, resulting in an acceleration of gas panel integration deliveries and total revenues at the upper end of our expectations.”
— Jeff Andreson, Q3 2025 Earnings Press Release
ICHR Earnings Trends
ICHR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ICHR EPS Trend
Earnings per share: estimate vs actual
ICHR Revenue Trend
Quarterly revenue: estimate vs actual
ICHR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.13 | $0.15 | +14.16% | $256.1M | +1.89% |
| Q4 25 BEAT FY | $-0.06 | $0.01 | +117.51% | $223.6M | +1.25% |
| FY Full Year | $0.17 | $0.23 | +35.29% | $947.7M | +0.29% |
| Q3 25 MISS | $0.12 | $0.07 | -40.98% | $239.3M | +1.77% |
| Q2 25 MISS | $0.14 | $0.03 | -79.01% | $240.3M | +2.46% |
| Q1 25 MISS | $0.26 | $0.12 | -54.09% | $244.5M | -0.20% |