Q4 26 EPS
$1.82
BEAT +8.10%
Est. $1.68
Q4 26 Revenue
$6.72B
BEAT +0.76%
Est. $6.67B
vs S&P Since Q4 26
+18.0%
BEATING MARKET
LRCX +22.6% vs S&P +4.7%
Full Year 2026 Results
FY 26 EPS
$5.76
BEAT +1.15%
Est. $5.69
FY 26 Revenue
$23.23B
BEAT +0.13%
Est. $23.20B
Market Reaction
Did LRCX Beat Earnings? Q4 2026 Results
Lam Research delivered a strong fiscal fourth quarter, posting non-GAAP diluted EPS of $1.82 against a consensus estimate of $1.68, an 8.10% beat that extended the company's streak of topping Wall Street expectations to five consecutive quarters. Rev… Read more Lam Research delivered a strong fiscal fourth quarter, posting non-GAAP diluted EPS of $1.82 against a consensus estimate of $1.68, an 8.10% beat that extended the company's streak of topping Wall Street expectations to five consecutive quarters. Revenue of $6.72 billion edged past the $6.67 billion consensus by 0.76% and climbed 30.0% year over year, reflecting the accelerating AI-driven demand that CEO Tim Archer described as fundamentally reshaping the semiconductor equipment landscape. Systems revenue of $4.25 billion, up from $3.44 billion a year ago, served as the primary engine behind the quarter's momentum, while gross margin expanded 190 basis points sequentially to 51.7% on a GAAP basis. With peers in the semiconductor equipment space navigating cautious investor sentiment around hyperscaler spending and export controls, Lam's broad geographic diversification and technology positioning helped underpin the results. Looking ahead, the company guided September quarter revenue to approximately $8.10 billion, plus or minus $400 million, with non-GAAP EPS of roughly $2.15, signaling continued acceleration into the back half of calendar 2026.
Key Takeaways
- • AI-driven demand reshaping the semiconductor industry
- • Rising manufacturing complexity driving equipment needs
- • Strategic investments and technology leadership
- • Strong systems revenue growth across deposition, etch and other wafer fabrication markets
- • Customer support and spares revenue growth
LRCX Forward Guidance & Outlook
For the September 2026 quarter, Lam guided revenue of approximately $8.10 billion, plus or minus $400 million. GAAP gross margin is expected at 52.0% +/- 1%, with non-GAAP gross margin also at 52.0% +/- 1%. GAAP and non-GAAP operating margin are both guided at 39.5% +/- 1%. GAAP and non-GAAP net income per diluted share are both expected at approximately $2.15, plus or minus $0.15. Diluted share count is expected at approximately 1.255 billion. CEO Tim Archer indicated Lam is positioning for a third consecutive year of outperformance in 2026 as AI-driven demand continues to reshape the semiconductor industry.
LRCX YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
LRCX Revenue by Segment
With YoY comparisons, source: SEC Filings
LRCX Revenue by Geography
With YoY comparisons, source: SEC Filings
“Lam delivered record revenue, operating margin and earnings per share in the June quarter as AI-driven demand continues to reshape the semiconductor industry.”
— Tim Archer, Q4 2026 Earnings Press Release
LRCX Earnings Trends
LRCX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LRCX EPS Trend
Earnings per share: estimate vs actual
LRCX Revenue Trend
Quarterly revenue: estimate vs actual
LRCX Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.68 | $1.82 | +8.10% | $6.72B | +0.76% |
| FY Full Year | $5.69 | $5.76 | +1.15% | $23.23B | +0.13% |
| Q3 26 BEAT | $1.36 | $1.47 | +7.87% | $5.84B | +1.49% |
| Q2 26 BEAT | $1.17 | $1.27 | +8.70% | $5.34B | +2.01% |
| Q1 26 BEAT | $1.22 | $1.26 | +3.27% | $5.32B | +1.79% |
| Q4 25 BEAT FY | $1.21 | $1.33 | +10.35% | $5.17B | +3.34% |
| FY Full Year | $4.02 | $4.15 | +3.29% | $18.44B | +0.87% |
| Q3 25 BEAT | $1.00 | $1.04 | +4.05% | $4.72B | +1.72% |