GlobalFoundries Q1 revenue rises 3%, adjusted EPS beats estimates

GLOBALFOUNDRIES

05/05/2026 12:14

Overview

U.S. semiconductor maker's preliminary Q1 revenue rose 3% yr/yr, meeting analyst expectations

Adjusted EPS for Q1 beat consensus, with all non-IFRS profitability metrics at or above guidance

Company cites strong execution and growth in end markets as drivers of results

Outlook

GlobalFoundries expects Q2 2026 revenue of $1.76 bln ± $25 mln

Company sees Q2 2026 non-IFRS gross margin at 28.5% ± 100bps

GlobalFoundries expects Q2 2026 non-IFRS diluted EPS of $0.43 ± $0.05

Result Drivers

END MARKET TRACTION - Co said it made significant progress in secular growth end markets, driven by differentiated technology and share gains

CUSTOMER EXECUTION - Co attributed results to strong execution and focus on delivering for customers

Company press release: ID:nGNX77TsFK

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Meet
$1.63 bln
$1.63 bln (16 Analysts)
Q1 Adjusted EPS
Beat
$0.40
$0.34 (16 Analysts)
Q1 EPS
$0.18
Q1 Adjusted Net Income
Beat
$227 mln
$194.24 mln (13 Analysts)
Q1 Net Income
$104 mln
Q1 Adjusted EBITDA
$561 mln
Q1 Gross Margin
27.60%
Q1 Adjusted Gross Margin
29.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"

Wall Street's median 12-month price target for GlobalFoundries Inc is $55.00, about 18.8% below its May 4 closing price of $67.75

The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)