ASM stock gets fresh growth boost from record quarter and buyback

ASM International reported a record third quarter on Tuesday, October 27, as demand for semiconductor manufacturing equipment accelerated across advanced logic, foundry and memory applications. In its release carried by GlobeNewswire, ASM said third-quarter revenue reached 1,159.4 million euros.

Revenue rose 45 percent from the year-earlier quarter on a reported basis and 44 percent at constant currencies. The result exceeded the 1,003.1 million euros recorded in the second quarter and reached the upper end of management's guidance. Advanced logic and foundry led growth, supported by investment in 2nm technology, higher activity at 3nm to 5nm and an initial solid contribution from 1.4nm. Memory sales also increased strongly, particularly in high-bandwidth-memory-related DRAM.

Gross margin held at 52.0 percent, compared with 51.9 percent in both the second quarter and the year-earlier period. Adjusted operating profit increased 56 percent year on year to 386.7 million euros, producing an adjusted operating margin of 33.4 percent. Adjusted net earnings rose by 109 million euros to 315.4 million euros. ASM identifies adjusted figures as non-IFRS performance measures; reported net earnings were 308.1 million euros.

Revenue targets move forward

ASM expects fourth-quarter 2026 revenue of 1,230 million euros, plus or minus 5 percent, at constant currencies. On that basis, full-year revenue is expected to rise by approximately 35 percent at constant currencies, while equipment revenue is projected to grow by more than 40 percent.

The more significant change is the 2027 outlook. ASM now projects revenue above 5.7 billion euros at constant currencies, a level that matches the revenue target set for 2030 at its 2025 Investor Day. Management therefore expects to reach that former target three years ahead of plan. Advanced logic and foundry are expected to remain the strongest growth drivers, with additional 2nm-related sales and momentum in 1.4nm.

Management also expects a solid double-digit increase in the served available market for 1.4nm compared with 2nm. Memory demand is expected to remain strong, while mature logic and foundry sales are forecast to stay relatively stable. The power, analog and wafer businesses are expected to recover further in 2027. ASM cautioned that supply-chain conditions are increasingly tight, leaving shipment execution and customer capacity ramps central to the outlook.

Buyback adds capital-return focus

The management board authorized a new share buyback program of up to 300 million euros on October 27. ASM said the decision reflected its strong cash position and financial performance, as well as its commitment to return excess cash to shareholders. The company has not yet announced when the program will begin or provided its detailed terms.

The previous program, worth up to 150 million euros, was completed on September 14 after ASM repurchased 185,522 shares at an average price of 808.53 euros. The new authorization gives investors an additional capital-return element, but its effect will depend on the eventual purchase schedule and the valuation at which shares are acquired.

ASM International stock traded at 680.00 euros on Lang & Schwarz at 10:44 CET on Thursday, November 5, 2026. The real-time quote of ASM International stock provides the latest market indication.

The Dutch market remains the relevant broader backdrop for ASM investors; the AEX market overview provides wider market context.

Further developments will center on the detailed launch terms of the new buyback and ASM's next quarterly reporting milestone. More news and analyses on ASM International stock will track the outlook, execution and capital returns.