APPLIED MATERIALS INC /DE files 8-K: results of operations

Item 2.02 Results of Operations and Financial Condition.

On November 12, 2026, Applied Materials, Inc. (“Applied Materials”) announced its financial results for its fourth quarter and fiscal year ended October 25, 2026. A copy of Applied Materials’ press release is attached hereto as Exhibit 99.1.

APPLIED MATERIALS ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2026 RESULTS

• Record quarterly revenue $10.41 billion, up 53 percent year over year

• Quarterly GAAP gross margin 50.4 percent and non-GAAP gross margin 50.6 percent, up 240 basis points and 250 basis points year over year, respectively

• Quarterly GAAP EPS $3.40 and record non-GAAP EPS $4.16, up 43 percent and 92 percent year over year, respectively

• Record annual revenue $34.45 billion, up 21 percent year over year

• Annual GAAP gross margin 50.0 percent and non-GAAP gross margin 50.1 percent, both up 130 basis points year over year

• Record annual GAAP EPS $12.62 and record non-GAAP EPS $12.89, up 46 percent and 37 percent year over year, respectively

• Unveiled the EPIC Center in Silicon Valley and added four new R&D partnerships, bringing our total number of announced EPIC engagements to 15

SANTA CLARA, Calif., Nov. 12, 2026 — Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its fourth quarter and fiscal year ended Oct. 25, 2026.

Fourth Quarter Results

Applied generated record revenue of $10.41 billion. On a GAAP basis, the company reported gross margin of 50.4 percent, record operating income of $3.66 billion or 35.1 percent of revenue, and earnings per share (EPS) of $3.40.

On a non-GAAP basis, the company reported gross margin of 50.6 percent, record operating income of $3.68 billion or 35.3 percent of revenue, and record EPS of $4.16.

The company generated record cash from operations of $3.30 billion and distributed $2.42 billion to shareholders through $2.00 billion in share repurchases and $421 million in dividends.

Fiscal Year Results

Applied generated record revenue of $34.45 billion. On a GAAP basis, the company reported gross margin of 50.0 percent, record operating income of $11.09 billion or 32.2 percent of revenue, and record EPS of $12.62.

Applied Materials, Inc.

On a non-GAAP basis, the company reported gross margin of 50.1 percent, record operating income of $11.42 billion or 33.1 percent of revenue, and record EPS of $12.89.

The company generated record cash from operations of $8.87 billion and distributed $4.75 billion to shareholders through $3.18 billion in share repurchases and $1.57 billion in dividends.

“Applied Materials delivered record results in fiscal 2026, and we are on track to grow our Semiconductor Systems business more than 40 percent in our calendar 2026,” said Gary Dickerson, President and CEO. “AI continues to fuel strong incremental demand for semiconductors and Applied has built the most-enabling portfolio to advance the AI-computing roadmap, putting us in a great position for multi-year revenue and profit growth.”

“With technology leadership in the most critical areas of the wafer fab equipment market, Applied Materials increased fiscal fourth quarter revenue by 53 percent year over year and non-GAAP earnings per share by 92 percent,” said Brice Hill, Senior Vice President and CFO. “We generated record quarterly free cash flow of $2.6 billion and distributed over $2.4 billion to shareholders, including the largest quarterly share buyback in more than eight years.”

Applied Materials, Inc.

Results Summary

A reconciliation of the GAAP and non-GAAP results is provided in the financial tables included in this release. See also “Use of Non-GAAP Financial Measures” section.

Recent Highlights EPIC Center

• Unveiled the EPIC Center in Silicon Valley, the world’s largest facility dedicated to collaborative semiconductor process technology and manufacturing equipment R&D. By bringing chipmakers, equipment partners and university researchers into the same building as Applied’s scientists and engineers, EPIC enables parallel rather than sequential development of materials, equipment and process technology, resulting in shorter learning cycles and faster commercialization of the innovations that will power the AI era.

• Announced four new EPIC Center partnerships, bringing the total to 15 announced to date.

• Intel will join EPIC as a founding partner to accelerate development of chipmaking innovations for next-generation transistors, interconnects and advanced packaging technologies. The collaboration will bring together cutting-edge capabilities from Applied’s EPIC Center and Intel’s R&D campus in Hillsboro, Oregon to shorten time-to-market of advanced semiconductor technologies essential to AI computing.

• KIOXIA Corporation will join the EPIC Center as an innovation partner to advance next-generation memory technologies. Applied and KIOXIA will work together at the EPIC Center on advanced memory-cell and structure creation, multi-chip stacking architectures, and new materials engineering approaches designed to increase memory density and performance for the AI era.

• BE Semiconductor Industries N.V. (Besi) will join the EPIC Center as an innovation partner. This is an expansion of Applied’s longstanding strategic partnership with Besi and extends the companies’ co-innovation beyond hybrid bonding into new interconnect architectures and applications supporting the semiconductor industry’s AI-driven scaling roadmap.

• The UCLA Samueli School of Engineering will join the EPIC Center as a research partner. Together with Applied’s scientists and engineers, UCLA researchers will work to solve semiconductor materials and integration challenges with a focus on shortening the time it takes to bring breakthrough research to commercialization.

Applied Materials, Inc.

New Products and Technologies

• Introduced the VeritySEM™ 20 metrology system, a next-generation critical dimension scanning electron microscope (CD-SEM). The VeritySEM 20 system is engineered to address the patterning control challenges of high-NA EUV by using advanced eBeam metrology innovations and AI-driven process efficiencies to accurately measure thinner photoresists, support tighter process windows and enable faster recipe creation.

Corporate Initiatives

• Entered into an accelerated share purchase agreement to increase Applied’s investment in Besi to approximately 20 percent of Besi’s outstanding shares. The share purchase would add to Applied’s current investment in Besi, which was initially made in April 2025.

• Hosted an Investor Breakfast Presentation during SEMICON West, where Applied executives presented the company’s longer-term growth expectations and outlined how our leadership in materials engineering positions the company to outperform the wafer fab equipment (WFE) market over the coming years.

Applied Materials, Inc.

Business Outlook

Applied’s total revenue and non-GAAP diluted EPS for the first quarter of fiscal 2027 are expected to be as follows:

This outlook for non-GAAP diluted EPS excludes known charges related to completed acquisitions of $0.01 per share and includes a net income tax benefit related to intra-entity intangible asset transfers of $0.04 per share, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax-related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.

Fourth Quarter and Fiscal Year Reportable Segment Information

Effective in the first quarter of fiscal 2026, management moved our 200-millimeter equipment business to Semiconductor Systems. The business was previously included in Applied Global Services. Additionally, effective in the first quarter of fiscal 2026, management began fully allocating corporate support costs to our operating segments. Prior-period numbers have been recast to conform to the current-year presentation. Display operating segment financial results are included in the Other category balances below.

Applied Materials, Inc.

Calendar Year Information

Applied's calendar 2026 refers to the period beginning with the second quarter of fiscal 2026 through the first quarter of fiscal 2027.