KLA Corporation 8-K
PositiveEarningsNew guidance
AI-driven demand for leading-edge chips and advanced packaging fuels process-control growth; Q2 revenue guided to $4.5B–$4.9B
Filed 2026-10-28 16:07 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q1 FY2027 results and Q2 guidance. Revenue was above the midpoint of the company’s guidance range, and GAAP and non-GAAP diluted EPS were above their respective guidance midpoints. KLA said growth reflects process-control demand from AI-related semiconductor manufacturing inflections, including leading-edge foundry and logic, more complex memory, and advanced packaging; its process, printed circuit board and component inspection businesses also benefit from high-performance computing transitions.
Key Figures
| Metric | Q1 FY2027 |
|---|---|
| Revenue | $4.14B, +28.9% Y/Y |
| Net income, GAAP | $1.55B, +38.1% Y/Y |
| Net income, non-GAAP | $1.60B, +37.3% Y/Y |
| Diluted EPS, GAAP | $1.18, +38.8% Y/Y |
| Diluted EPS, non-GAAP | $1.22, +38.6% Y/Y |
| Operating cash flow | $1.53B, +31.8% Y/Y |
| Free cash flow | $1.34B, +25.4% Y/Y |
- Semiconductor Process Control revenue rose 29.5% Y/Y to $3.75B; Specialty Semiconductor Process revenue rose 16.5% to $139M, and PCB and Component Inspection revenue rose 27.8% to $242M.
- Quarterly capital returns totaled $1.24B: $936M in share repurchases and $305M in dividends. Weighted-average diluted shares were 1.311B, down 1.0% Y/Y.
- Over the last 12 months, operating cash flow was $4.51B and free cash flow was $4.04B; capital returns were $3.79B, vs $3.09B in the prior-year period.
Against earlier guidance
| Metric | Period | Earlier guidance | Actual |
|---|---|---|---|
| Revenue | Q1 FY2027 | $3.8B-$4.2B | $4.14B |
Compared with the earlier filings (derived)
| Metric | Period | Earlier guidance | Actual | Result |
|---|---|---|---|---|
| Revenue | Q1 FY2027 | $3.8B-$4.2B | $4.14B | in line |
| Diluted EPS, GAAP | Q1 FY2027 | $1.04-$1.24 | $1.18 | in line |
| Diluted EPS, non-GAAP | Q1 FY2027 | $1.06-$1.26 | $1.22 | in line |
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | Q2 FY2027 | $4.5B-$4.9B | — | — |
| Gross margin, GAAP | Q2 FY2027 | 60.8%-62.8% | — | — |
| Gross margin, non-GAAP | Q2 FY2027 | 61.5%-63.5% | — | — |
| Diluted EPS, GAAP | Q2 FY2027 | $1.30-$1.52 | — | — |
| Diluted EPS, non-GAAP | Q2 FY2027 | $1.33-$1.55 | — | — |
Investor Takeaways
- Q2 FY2027 revenue and gross margin versus the guided ranges will indicate whether the reported acceleration carries into the December quarter.
- Whether Semiconductor Process Control sustains growth from its 29.5% Y/Y revenue increase will help show if demand from leading-edge designs, memory complexity and advanced packaging continues.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-28 22:39:20Z