United Microelectronics (UMC) Q1 2026 earnings summary

Executive summary

• Revenue was NT$61,038M, down 1.2% QoQ and up 5.5% YoY; net income attributable to shareholders rose 107.9% YoY to NT$16,171M, with EPS of NT$1.29.

• Wafer shipments increased 2.7% QoQ to 1,021K 12-inch equivalents, and utilization rose to 79% from 69% a year ago.

• 22nm revenue reached a record 14% of Q1 revenue, with demand gaining momentum across logic and specialty processes.

Financial highlights

• Gross profit was NT$17,818M; gross margin was 29.2%, down from 30.7% in 4Q25 and up from 26.7% in 1Q25.

• Operating income was NT$11,276M, up 15.2% YoY and down 7.8% QoQ; operating margin was 18.5%.

• Net non-operating income was NT$5,367M, primarily reflecting a NT$5,000M net investment gain and NT$300M exchange gain.

• Cash and cash equivalents were NT$109,019M; total assets were NT$599,932M and total equity was NT$406,736M.

Outlook and guidance

• Q2 wafer shipments are expected to increase by high single digits QoQ, with USD ASP rising by low single digits.

• Q2 gross margin guidance is ~30%, with utilization in the low-80% range.

• Q2 demand outlook cites a communication-segment rebound and healthy computer, consumer, and industrial demand; shipments are expected to grow across 8-inch and 12-inch portfolios.

• Full-year 2026 outlook remains optimistic, with expectations to outperform addressable market growth; second-half price adjustments are planned to support long-term operational health.