GlobalWafers (6488) Q3 2026 earnings summary

Executive summary

• Q3 revenue was NT$14.871bn, down 2.3% QoQ; the July Novara fire disrupted shipments and product mix, while operating income rose 2.2% QoQ.

• Existing wafer capacity was fully utilized, and demand broadened across wafer sizes; recovery priorities include restoring Novara and ramping new facilities.

• A US$1.432bn GDR issuance strengthened the balance sheet and supports raw-material procurement and global expansion.

Financial highlights

• Q3 revenue was NT$14.871bn, +2.6% YoY and -2.3% QoQ; 9M revenue was NT$44.070bn, -4.4% YoY.

• Q3 gross margin was 20.0%, down 0.6 percentage points QoQ; 9M gross profit was NT$9.0bn and gross margin was 20.5%, down 3.1 points YoY.

• Q3 operating income was NT$1.454bn, +18.2% YoY; 9M operating income was NT$4.352bn, -30.5% YoY.

• Q3 net profit was NT$1.505bn, -60.2% QoQ and -23.6% YoY; 9M net profit was NT$7.180bn, +40.6% YoY.

• Q3 EPS was NT$3.13; 9M EPS was NT$15.00, up NT$4.32 YoY and near FY2025's NT$15.29.

Outlook and guidance

• Q4 demand is stronger than expected and results are expected to improve from Q3, though Novara's limited recovery constrains the upside.

• From Q1 2027, new capacity and improved ASP are expected to support performance; supply-demand conditions are expected to tighten, with demand already exceeding supply for some products.

• Pricing discussions are underway case by case; ASP improvement from 2027 is expected through LTAs, spot business and product mix, subject to customer negotiations.

• 2026 CapEx is expected to decline significantly vs. 2025; 2027–28 investment will depend on demand, ramp-up, customer commitments, government support, profitability, ROI and timing.