ASML Q3 2026 Earnings: Record Sales and Demand Through 2028

ASML's Q3 2026 earnings delivered exactly what investors hoped to hear from the world's most important chip equipment maker: record sales, stronger margins and demand that is outrunning supply. The Dutch company, whose lithography machines are essential for making advanced chips, reported record quarterly net sales of 11.7 billion euros on October 14, and said customers are already asking to place orders for 2029 and even 2030.

• Record sales: Q3 net sales of EUR 11.7 billion, up from EUR 9.3 billion in Q2 2026.
• Profitability: gross margin of 57.5% and net income of EUR 5.0 billion, with basic EPS of EUR 12.95.
• Guidance: Q4 sales of EUR 14.2 to 15.2 billion, and full-year 2026 sales of EUR 44 to 45 billion.
• Shareholder returns: about EUR 4.1 billion in Q3 buybacks and an interim dividend of EUR 1.88 per share, payable November 4.

How Did ASML Do in Q3 2026?

According to ASML's results release filed with the SEC, the quarter was strong almost everywhere you look. Net sales jumped to EUR 11.66 billion from EUR 9.33 billion in Q2, gross margin rose to 57.5% from 54.0%, and net income climbed to EUR 4.96 billion from EUR 2.92 billion.

ASML sold 113 new lithography systems and 8 used ones in the quarter, up from 86 and 5 in Q2. Its Installed Base Management business, which covers service and upgrades for machines already in the field, brought in EUR 3.3 billion. Hargreaves Lansdown noted that revenue rose 55% year over year, operating profit more than doubled to EUR 5.2 billion, and the result beat expectations on profit.

Why Is ASML Demand Outrunning Capacity?

This is the part of the report that matters most for the long-term story. ASML said customers are raising their short- and medium-term equipment demand forecasts, mainly because of their views on AI-related investment. The company now expects that its planned supply for 2027 and 2028 will not fully meet customer demand.

ASML had already planned a 30% increase in low-NA EUV and DUV immersion capacity for 2027, with a further 30% under study for 2028, and it is now looking for ways to add even more for 2028. Hargreaves Lansdown also highlighted that customers are upgrading existing machines to squeeze out more output in the meantime.

For context, ASML's customers include the foundries behind the AI chip boom. That makes this report a useful follow-up to TSMC's record Q3 revenue last week: when the chipmakers are growing this fast, the equipment pipeline has to grow with them.

What Is ASML's Outlook for Q4 and 2026?

ASML guided Q4 net sales to EUR 14.2 to 15.2 billion with a gross margin around 57%. For the full year, it now expects EUR 44 to 45 billion in sales, a tighter range than its previous EUR 43 to 45 billion, and a gross margin of about 56%, up from the earlier 54% to 56% range, according to Hargreaves Lansdown.

What Should Investors Watch?

The bull case is clear: a supplier at the center of leading-edge chipmaking, a full order pipeline and rising margins. The fair counterpoints are that the story depends on AI infrastructure spending staying strong, and that ASML has to actually expand output fast enough to meet the demand it describes. Its forward P/E of around 30, per Hargreaves Lansdown, is close to its ten-year average, so investors are paying a typical ASML premium rather than a bubble multiple.

If you want the technical background, our piece on ASML's High-NA EUV roadmap explains the machines behind these numbers. As always, do your own research before making any investment decision. More in our stock trading coverage.

Sources: ASML Q3 2026 financial results, SEC filing — October 14, 2026; Hargreaves Lansdown, ASML Q3 results — October 14, 2026.