ACM Research (NASDAQ:ACMR) Posts Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• ACM Research beat quarterly estimates: EPS was $0.55 versus $0.50 expected, and revenue reached $367.7 million, up 36.6% year over year and above the $310.6 million consensus.
• Growth outlook strengthened: The company raised its 2026 revenue forecast to $1.24–$1.28 billion; backlog was $2.5 billion as of September 29, up 88% year over year.
• Margins showed some pressure: Gross margin eased to 41.6% from 42.1%, below the company’s long-term target range, though management expects a modest improvement in the fourth quarter.

ACM Research (NASDAQ:ACMR - Get Free Report) released its quarterly earnings results on Thursday. The specialty retailer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05, FiscalAI reports. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The firm had revenue of $367.69 million for the quarter, compared to analysts' expectations of $310.56 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business's quarterly revenue was up 36.6% on a year-over-year basis.

Here are the key takeaways from ACM Research's conference call:

• Third-quarter revenue rose 37% to $367.7 million, while shipments increased 31%; operating margin improved to 18% from 13.6% a year earlier.
• ACM raised its 2026 revenue outlook to $1.24–$1.28 billion, or 38%–42% annual growth, from a prior range of $1.125–$1.175 billion. Management expects shipments to grow faster than revenue.
• Backlog reached $2.5 billion as of September 29, up 88% year over year, and year-to-date orders through September were up 147%, providing support for planned growth.
• Growth was led by ECP and advanced packaging, with revenue up 83% and 71%, respectively; ACM also reported progress on SPM and panel-level plating. However, some newer platforms—including track and PECVD—remain in evaluation, with revenue contribution expected to develop through 2027 and 2028.
• Gross margin slipped to 41.6% from 42.1%, below ACM’s 42%–48% long-term target range; management cited product mix, foreign exchange, and inventory provisions, while expecting a modest improvement in the fourth quarter.

ACM Research Price Performance

Shares of NASDAQ ACMR traded down $5.12 during mid-day trading on Thursday, reaching $39.31. 2,814,025 shares of the company were exchanged, compared to its average volume of 1,369,636. ACM Research has a 52 week low of $28.46 and a 52 week high of $127.19. The company's 50 day moving average price is $66.43 and its 200 day moving average price is $68.49. The stock has a market capitalization of $2.54 billion, a PE ratio of 18.72 and a beta of 2.27. The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08.

Insiders Place Their Bets

In other ACM Research news, Director Haiping Dun sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total transaction of $405,650.00. Following the sale, the director owned 5,000 shares in the company, valued at $405,650. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Wang sold 70,000 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total value of $5,221,300.00. Following the completion of the sale, the insider owned 802,708 shares of the company's stock, valued at $59,873,989.72. The trade was a 8.02% decrease in their position. The SEC filing for this sale provides additional information. 24.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ACMR shares. Daiwa Securities Group started coverage on ACM Research in a research note on Wednesday, August 26th. They issued a "buy" rating and a $136.00 target price on the stock. Craig Hallum reiterated a "buy" rating and set a $100.00 price target on shares of ACM Research in a research report on Monday, August 10th. Zacks Research lowered ACM Research from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. Finally, Weiss Ratings lowered ACM Research from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.75.

About ACM Research

ACM Research, Inc NASDAQ: ACMR develops and manufactures equipment used in semiconductor wafer processing. Its systems are designed to support the fabrication of integrated circuits and other electronic components, with a primary focus on cleaning and other process steps performed during semiconductor manufacturing.

The company's product portfolio includes single-wafer cleaning systems, wet-cleaning equipment, electrochemical plating systems, and other wafer-processing tools. These products are used by semiconductor manufacturers and foundries in applications involving advanced logic, memory, and specialty devices.

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