BE Semiconductor (BESI) shares rise 3% as Q1 orders more than double

Summary

• BESI’s first-quarter order bookings surged 104.5% year-over-year to €269.7 million, exceeding market expectations by approximately 4%.
• Net income climbed 63.8% to €51.6 million, while total revenue rose 28.3% to €184.9 million.
• Robust demand was fueled by hybrid bonding technology and equipment for AI chip packaging.
• The company issued Q2 revenue guidance of +30% to +40% sequentially, with anticipated gross margins of 64–66%.
• A second client has initiated the qualification process for hybrid bonding in high bandwidth memory (HBM).

(SeaPRwire) –   BE Semiconductor Industries delivered a powerful first quarter, with orders more than doubling and profits rising nearly 64% as the demand for advanced chip packaging driven by AI continues to gain momentum.

𝗕𝗘𝗦𝗜 𝗤𝟭 𝟮𝟬𝟮𝟲 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝘀𝘂𝗹𝘁𝘀 $BESI
EPS: €0.65 compared to €0.65 estimated
Revenue: €184.9M vs €186.52M estimated
Orders: €269.7M vs €248M estimated

𝗢𝘂𝘁𝗹𝗼𝗼𝗸 𝗤𝟮 𝟮𝟬𝟮𝟲
Revenue: €240M-€258M vs €227.12M estimated

Stock: +2.7%

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The Netherlands-based equipment manufacturer announced order bookings of €269.7 million for Q1 2026, a 104.5% increase from the €131.9 million reported a year prior. This result was roughly 4% higher than the analyst consensus, according to J.P. Morgan.

Revenue for the period reached €184.9 million, marking a 28.3% year-over-year improvement. Net profit rose to €51.6 million from €31.5 million in the first quarter of 2025, bolstered by revenue growth and recent cost-saving measures.

The company’s total order book more than doubled during the quarter to €268.7 million. Leadership pointed to healthy shipments for high-end mobile devices and 2.5D AI computing systems.

Hybrid Bonding Gathers Momentum

Hybrid bonding—a technique that connects two chips directly—continues to be a major growth engine for Besi. This technology is viewed as vital for next-generation AI and high bandwidth memory (HBM) solutions.

A second client began the qualification of Besi’s hybrid bonding technology within the HBM market this quarter. Analysts monitoring HBM adoption consider this a highly positive development.

J.P. Morgan remarked that these results indicate hybrid bonding adoption is picking up speed in the memory sector, describing the company’s performance as a “positive print.”

Besi’s status as a pioneer in hybrid bonding has allowed it to profit directly from the ongoing expansion of AI chip infrastructure. Its customer base includes major industry players like TSMC, Intel, and Samsung Electronics, all of whom are currently boosting their capacity.

Both TSMC and Samsung recently signaled intentions to further scale up production, which is expected to generate additional equipment orders for Besi in the future.

Second Quarter Outlook Strengthens

For the upcoming second quarter, Besi projected sequential revenue growth between 30% and 40%, using the €184.9 million Q1 figure as a baseline. This suggests Q2 revenue will fall between roughly €240 million and €259 million.

Gross margins are anticipated to climb to a range of 64% to 66% in Q2, with net income expected to show significant growth.

This guidance reflects the persistent strength of AI-related demand, even as other semiconductor sectors—such as automotive, PC, and consumer memory—remain sluggish.

Elsewhere in the European semiconductor market, STMicroelectronics also posted Q1 results that surpassed estimates, indicating signs of recovery in its core markets.

BESI shares climbed approximately 3% in early Amsterdam trading on Thursday, outperforming the Dutch AEX index. Including Thursday’s performance, the stock has surged roughly 79% since the beginning of the year.