Stock Track | Photronics Plummets 31.22% Intraday After Q2 Earnings Miss, Weak Q3 Outlook

Stock Track05-28

Photronics Inc. (NASDAQ:PLAB) shares plummeted 31.22% during Thursday's intraday trading session following the release of its second-quarter fiscal 2026 financial results.

The photomask technology manufacturer reported adjusted earnings per share of $0.42, missing the analyst consensus estimate of $0.54. Revenue of $209.94 million also fell short of the $216.66 million expectation, marking a slight year-over-year decline. The company's integrated circuit (IC) revenue dropped 5% from the prior year and 11% sequentially, while flat panel display (FPD) revenue provided some offset with a 13% year-over-year increase.

Investors reacted negatively to Photronics' third-quarter guidance, which projected revenue between $207 million and $215 million and adjusted EPS between $0.39 and $0.45, both below analyst expectations. Chairman and CEO George Macricostas cited several near-term headwinds including delayed design releases due to elevated fab utilization rates, memory supply constraints and related cost pressures for original equipment manufacturers, and geopolitical uncertainty.

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