ICHOR

Q2 FY2026 EarningsQ2 FY26 results slightly missed top-line expectations while exceeding bottom-line normalized targets. Revenue reached $294.8M vs. the $300.2M consensus, impacted by a complex global trade environment. However, Normalized EPS of $0.34 beat the $0.31 mean estimate, driven by successful geographic footprint rationalization and restructuring that enhanced gross margins to 14.1% (Non-GAAP). A significant tax rate miss (81.6% actual vs. 22.5% expected) due to the expiration of the Singapore tax holiday pressured GAAP net income.