Filing Flows › Photronics (PLAB) › Q2 FY26
Photronics (PLAB) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jun 11, 2026
Photronics (PLAB) reported revenue of $210M for the second quarter fiscal 2026 (Q2 FY26), -0.5% from a year earlier and -7% from the quarter before. Operating margin was 20.1%, net earnings $31.4M (15.0% of revenue).
Photronics, Q2 FY26: revenue $210M (-0.5% year over year), operating margin 20.1%, net earnings $31.4M, operating cash flow $47.0M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $210M | -7% | -0.5% |
| Gross profit | $65.8M | -16% | -16% |
| Operating profit | $42.2M | -23% | -24% |
| Net earnings | $31.4M | -27% | +255% |
| Operating cash flow | $47.0M | -52% | +50% |
| Free cash flow | $1.2M | -98% | — |
What changed
Revenue was $209.9M in Q2 FY26, roughly flat year over year and down 7% from the previous quarter. Mainstream Integrated Circuits was the largest line at 43% of revenue. Mainstream Integrated Circuits lost $5.7M year over year (down 6%), 544% of the total change.
Gross margin was 31.3%, down 5.6 points from Q2 FY25. Operating profit was $42.2M, a 20.1% margin (down 6.3 points year over year). Operating expenses grew 6% against flat revenue. The fastest-growing cost line was SG&A (+15%). Net earnings were $31.4M, up 255% year over year. The effective tax rate was 19.7%. Non-operating items added $11.7M, 22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $47.0M (up 50% year over year), 109% of net income including minority interests. Non-cash charges added back $20.0M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items used $20.0M. Capital expenditures of $45.8M left free cash flow of $1.2M.
Questions
What was Photronics' revenue in the second quarter fiscal 2026?
Photronics (PLAB) reported revenue of $210M for the second quarter fiscal 2026 (Q2 FY26), -0.5% from a year earlier and -7% from the quarter before.
Was Photronics profitable in the second quarter fiscal 2026?
Operating profit was $42.2M (20.1% of revenue) and net earnings $31.4M.
Source: Photronics 10-Q on SEC EDGAR.