United Integrated Services (2404) Q1 2026 earnings summary

Executive summary

• Provides integrated engineering and construction services for high-tech manufacturing facilities, specializing in cleanrooms, HVAC, electrical, and process systems.

• Serves major semiconductor and flat panel display clients, with a strong presence in Taiwan, China, Singapore, and the US.

• Recognized for technical expertise, project integration, and multiple industry awards.

• Revenue for Q1 2024 reached NT$20.29 billion, up 76% year-over-year from NT$11.52 billion.

• US market contributed over half of Q1 2024 revenue.

Financial highlights

• 2026 Q1 revenue: NTD 20.29 billion; gross profit: NTD 4.73 billion (gross margin 23.32%).

• 2025 full-year revenue: NTD 66.09 billion; gross profit: NTD 13.23 billion (gross margin 20.02%).

• 2026 Q1 net income: NTD 3.09 billion; EPS: NTD 16.31.

• Operating profit for Q1 2024 was NT$3.97 billion, up 81% year-over-year.

• Cash and cash equivalents at March 31, 2024, were NT$30.25 billion, up from NT$15.45 billion a year earlier.

Outlook and guidance

• Expects to benefit from global semiconductor investment, especially AI-driven demand for HPC chips and memory.

• Key clients launching multiple fab investments in 2026, both in Taiwan and internationally.

• Focus on strengthening technical teams, optimizing supply chain, and enhancing risk management.

• The company continues to expand in international markets, especially the US and China.

• No significant impact from ongoing litigation; operations and financials remain robust.