New York, Feb 26, 2026, 09:21 EST — Premarket
- Photronics edged up in premarket trading, following a strong rally in the previous session.
- Photomask maker reported Q1 results and issued guidance for Q2 revenue and profit
- Next up for investors: management’s Feb. 27 conference call, where any signals on chip and display demand will be closely parsed.
Photronics traded at $43.71 ahead of the open, tacking on about 0.3% in premarket action Thursday. The move follows a 14.7% surge to $43.57 at Wednesday’s close. 1
This is notable: Photronics operates in a slim corner of the chip supply world. The company produces photomasks—those precision plates that transfer circuit patterns onto semiconductor wafers—and counts flat panel display makers among its clients. The company’s bookings and product mix can offer hints about which way manufacturing demand is headed.
The company’s guidance signals revenue will dip from the last quarter, and investors are sizing that up after the stock’s big run this week. With shares rallying Wednesday, the open will show how much of that move actually holds.
Photronics reported first-quarter revenue up 6.1% year-on-year, reaching $225.1 million. GAAP net income attributable to shareholders landed at $42.9 million, or $0.74 per diluted share. The adjusted, or “non-GAAP,” figure came in lower, at $0.61 a share. For the second quarter, Photronics projected revenue between $212 million and $220 million, with non-GAAP diluted EPS in the $0.49 to $0.55 range. The company set its results webcast for Feb. 27 at 8:30 a.m. Eastern. CEO George Macricostas highlighted “record high-end IC revenue for the second consecutive quarter.”
Photronics, in a February investor presentation submitted to regulators, put its full-year fiscal 2026 capex target at roughly $330 million for expansion in the U.S. and South Korea and for swapping out aging tools. The same deck pointed to Chinese New Year-driven seasonality weighing on the current quarter. The company also disclosed $97 million in share buybacks for fiscal 2025, with $28 million remaining under the current authorization.
Photronics attached its earnings release and investor slide deck as exhibits to an 8-K filing, according to company documents. The firm also noted that a slide presentation will accompany the Feb. 27 call.
Attention is turning to the finer points after the initial beat. Comments on demand for advanced chip designs—where both mask complexity and prices typically increase—will be key for traders. They’ll also be looking for any signals that display-related business is finding firmer ground after a recent slowdown in certain segments.
The setup isn’t straightforward. Photronics faces tough competition in the photomask business, with clients who tend to source from multiple suppliers. The company counts Dai Nippon Printing, Hoya, Taiwan Mask Corporation, and Toppan-linked outfits as key competitors. A ramp-up in capital spending can squeeze free cash flow, especially if demand stumbles or pricing softens. 2
The first thing to watch Thursday is if buyers step in to hold Wednesday’s close when liquidity comes back at 9:30 a.m. ET. Beyond that, the spotlight turns to Friday morning’s Feb. 27 call. Management’s commentary on high-end IC demand, how regional capacity is shaping up, and what they say about spending tempo could drive the next move for PLAB.
