Chicony Electronics (2385) Q3 2026 earnings summary

Executive summary

• 3Q26 net sales fell 20.2% YoY, while operating income rose 128.9% QoQ; 1–3Q26 net income declined 11.4% YoY.

• 3Q26 operating margin improved to 6.4% from 2.5% in 2Q26, despite lower sales.

Financial highlights

• 3Q26 net sales were NT$19,793M, down 11.6% QoQ and 20.2% YoY; gross profit was NT$2,654M, down 12.9% QoQ and 43.9% YoY.

• 3Q26 operating income was NT$1,258M, up 128.9% QoQ and down 46.6% YoY; net income was NT$1,469M, down 34.4% QoQ and 29.6% YoY.

• 3Q26 after-tax EPS was NT$2.02, down 34.0% QoQ and 29.6% YoY.

• 1–3Q26 revenue was NT$65,052M, down 10.4% YoY; operating income was NT$3,534M, down 44.9%, and net income was NT$5,166M, down 11.4%.

• 1–3Q26 after-tax EPS was NT$7.07, down 11.7% YoY; non-operating income rose 70.9% to NT$2,621M.

Key financial ratios and metrics

• 3Q26 gross margin was 13.4%, down 5.7 percentage points YoY; operating margin was 6.4%, down 3.1 points, and net margin was 7.4%, down 1.0 point.

• 1–3Q26 gross margin was 14.4%, down 4.0 percentage points YoY; operating margin was 5.4%, down 3.4 points, and net margin was 7.9%, down 0.1 point.

• 3Q26 debt ratio was 49%, versus 52% in 2Q26 and 51% in 3Q25; current ratio was 1.52x.

• 3Q26 net cash was NT$10,385M, compared with NT$15,901M in 2Q26 and NT$9,165M in 3Q25.