Ultra Clean Holdings, Inc. (UCTT) reported second-quarter 2026 non-GAAP earnings of 70 cents per share, a 112.1% increase year over year, exceeding the Zacks Consensus Estimate by 34.62%. Revenues for the same period reached $644.9 million, reflecting a 24.3% year-over-year growth and surpassing estimates by 10.18%, driven by higher demand for products and services in the semiconductor sector.
Key revenue drivers included product revenues of $572.7 million, a 25.9% increase year over year, and services revenues of $72.2 million, up 13% year over year. The company’s projected revenue for Q3 2026 is between $700 million and $750 million, with anticipated gross margins improving towards 17%. As of June 26, 2026, Ultra Clean held $255.9 million in cash and long-term debt of $599.4 million.
Ultra Clean has expanded its manufacturing capacity, adding 26,000 square feet of clean-room space in Malaysia, with plans for further capacity increases in Singapore and the Czech Republic. Management expects to achieve an annualized revenue run rate of $3.5 billion by the end of 2026 and aims for $5 billion by the second half of 2028.
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