Lam Research 8-K

PositiveEarningsNew guidance

AI-driven demand fuels record revenue, operating margin and EPS; Q1 guidance points to further gains.

Filed 2026-07-29 16:07 ET

Summary

Q4 FY2026 results with Q1 FY2027 guidance. Lam reported record quarterly revenue, operating margin and EPS; management cited AI-driven demand and said it is positioned for a third consecutive year of outperformance in 2026.

Key Figures

Metric Q4 FY2026 Q4 FY2025 Y/Y
Revenue $6.72B $5.17B +30.0%
Operating income, GAAP $2.51B $1.74B +44.4%
Net income, GAAP $2.28B $1.72B +32.4%
Diluted EPS, GAAP $1.81 $1.35 +34.1%
Operating cash flow $1.46B $2.55B -43.0%
  • Non-GAAP operating income was $2.58B and net income was $2.28B, with diluted EPS of $1.82; GAAP counterparts were $2.51B, $2.28B and $1.81. Non-GAAP operating margin was 38.4% vs GAAP’s 37.4%; non-GAAP gross margin was 52.0% vs GAAP’s 51.7%.
  • Cash, cash equivalents and restricted cash rose to $5.60B from $4.77B at the prior quarter-end. Treasury stock purchases, including excise taxes, were $246.6M vs $1.29B in Q4 FY2025; common shares outstanding were 1.251B vs 1.269B a year earlier, down 1.4%.

Guidance

Metric Period Guidance Prior Direction
Revenue, GAAP and non-GAAP Q1 FY2027 $8.1B ± $400M — —
Gross margin, GAAP Q1 FY2027 52% ± 1% — —
Gross margin, non-GAAP Q1 FY2027 52% ± 1% — —
Operating margin, GAAP Q1 FY2027 39.5% ± 1% — —
Operating margin, non-GAAP Q1 FY2027 39.5% ± 1% — —
Net income per diluted share, GAAP Q1 FY2027 $2.15 ± $0.15 — —
Net income per diluted share, non-GAAP Q1 FY2027 $2.15 ± $0.15 — —
Diluted share count Q1 FY2027 1.255B — —

Investor Takeaways

  • Watch Q1 FY2027 revenue, margins and diluted EPS against the company’s guidance; results outside those ranges would diverge from the stated outlook.

The summary is written by an AI model reading the filing.

Model 005 · prompt 01d34d48e3

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