NASDAQ$PLAB
Photronics Inc · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Photronics reported a decline in revenue and net income for Q2 FY2025 while initiating a CEO transition.
Photronics saw a modest revenue decline in Q2 2025, with net income significantly dropping compared to the prior year. The company repurchased $72 million of stock and initiated a CEO transition as Dr. Frank Lee stepped down. Operating margin remained stable while IC segment revenue showed slight sequential growth.
- Revenue was $211.0M, down 1% sequentially and 3% YoY.
- GAAP net income dropped sharply to $8.9M compared to $36.3M in Q2 2024.
- Photronics repurchased $72M in stock, emphasizing long-term confidence.
- Dr. Frank Lee stepped down as CEO, succeeded by George Macricostas.
Headline financials
Revenue & EPS history
Photronics · Revenue · Quarterly
$211M
Revenue by segment
Photronics · $210M total across 2 segments · Q2 2026
- IC$148M—70.3%
- FPD$62.4M—29.7%
Forward guidance
Photronics guided Q3 2025 revenue and non-GAAP EPS slightly below Q2 levels, indicating cautious optimism amid ongoing investments.
Tailwinds
- Revenue guidance of $200M to $208M shows resilience despite recent decline.
- Non-GAAP EPS forecasted between $0.35 and $0.41.
- Continued strength in Asia operations highlighted.
- Ongoing investments in capital expenditures signal growth commitment.
- Strong cash balance of $558.4M positions company for flexibility.
Headwinds
- Sequential decline in both revenue and earnings.
- Significant drop in GAAP net income.
- Weaker performance in the FPD segment.
- Cash burn from repurchases and capex exceeds operational cash flow.
- Leadership transition introduces near-term uncertainty.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2025
+2.1%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+1.8%
Avg return
30 days after
62%
41 / 66 earnings
Positive
+45.4%
Q4 2025
Best reaction
-22.8%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +11.6% | +1.2% | +31.7% | |
| Q4 2025 | +45.4% | +43.1% | +29.7% | |
| Q3 2025 | +7.6% | +1.8% | +4.3% | |
| Q2 2025 | -15.5% | -14.7% | -6.6% | |
| Q1 2025 | +2.0% | -3.9% | -0.5% | |
| Q4 2024 | +3.8% | +4.7% | -7.1% | |
| Q3 2024 | +7.4% | -1.1% | +3.0% | |
| Q2 2024 | -8.9% | -6.7% | -11.7% | |
| Q1 2024 | -14.3% | -9.2% | -7.8% | |
| Q4 2023 | +34.5% | +34.6% | +34.0% | |
| Q3 2023 | -12.3% | -14.6% | -12.0% | |
| Q2 2023 | +17.7% | +23.4% | +33.9% | |
| Q1 2023 | -9.0% | -1.8% | -8.3% | |
| Q4 2022 | -6.8% | -6.8% | -1.1% | |
| Q3 2022 | -22.8% | -29.4% | -31.4% | |
| Q2 2022 | +33.4% | +40.8% | +35.2% | |
| Q1 2022 | +2.4% | -0.8% | -1.1% | |
| Q4 2021 | +23.8% | +15.5% | +30.5% | |
| Q3 2021 | +4.3% | +7.7% | +3.6% | |
| Q2 2021 | +3.1% | +2.9% | +2.5% | |
| Q1 2021 | -6.6% | -6.0% | -2.6% | |
| Q4 2020 | -15.9% | -15.7% | -13.2% | |
| Q3 2020 | -5.9% | -9.0% | -11.3% | |
| Q2 2020 | -12.9% | -11.6% | -19.1% | |
| Q1 2020 | +2.9% | -3.5% | -23.3% | |
| Q4 2019 | +29.5% | +24.1% | +20.4% | |
| Q3 2019 | +4.4% | +1.1% | +17.2% | |
| Q2 2019 | -1.3% | -2.5% | -3.2% | |
| Q1 2019 | -8.1% | -12.3% | -20.1% | |
| Q4 2018 | +4.6% | +3.1% | +9.4% | |
| Q3 2018 | +15.1% | +20.1% | +10.6% | |
| Q2 2018 | +7.7% | +9.5% | +0.0% | |
| Q1 2018 | +3.8% | -0.6% | +16.7% | |
| Q4 2017 | +3.2% | -1.6% | -8.8% | |
| Q3 2017 | -17.4% | -20.5% | -16.3% | |
| Q2 2017 | -9.5% | -12.1% | -13.9% | |
| Q1 2017 | -0.9% | -0.4% | -1.8% | |
| Q4 2016 | +7.7% | +17.9% | +13.8% | |
| Q3 2016 | -10.7% | -8.2% | -3.7% | |
| Q2 2016 | -8.4% | — | — | |
| Q1 2016 | +3.4% | — | — | |
| Q4 2015 | +5.1% | — | — | |
| Q3 2015 | +7.6% | — | — | |
| Q2 2015 | +3.4% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | -0.3% | — | — | |
| Q3 2014 | +1.3% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q1 2014 | -5.6% | — | — | |
| Q4 2013 | +8.4% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | -3.3% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | +8.3% | — | — | |
| Q3 2012 | +6.9% | — | — | |
| Q2 2012 | -2.1% | — | — | |
| Q1 2011 | +4.5% | — | — | |
| Q1 2012 | -2.3% | — | — | |
| Q4 2011 | +1.2% | — | — | |
| Q2 2011 | +1.2% | — | — | |
| Q4 2009 | +1.2% | — | — | |
| Q3 2011 | +2.0% | — | — | |
| Q3 2010 | +2.0% | — | — | |
| Q4 2010 | +2.0% | — | — | |
| Q2 2010 | +5.9% | — | — | |
| Q1 2010 | -3.1% | — | — |
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