FormFactor FORM is scheduled to report its first-quarter 2026 earnings results on April 29.
FORM expects first-quarter 2026 adjusted earnings to be 45 cents per share, plus or minus 4 cents. The Zacks Consensus Estimate for the to-be-reported quarter earnings is pegged at 45 cents per share, unchanged over the past 30 days and indicates 95.6% growth from the figure reported in the year-ago quarter.
FormFactor expects net sales of approximately $225 million in the first quarter of 2026, plus or minus $5 million. The Zacks Consensus Estimate for the to-be-reported quarter’s sales is pegged at $225.6 million, suggesting 31.6% growth from the figure reported in the year-ago quarter.
FormFactor’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing the same once, with the average surprise being 18.62%.
FormFactor, Inc. Price and EPS Surprise
FormFactor, Inc. price-eps-surprise | FormFactor, Inc. Quote
Let’s see how things have shaped up for the upcoming announcement.
Key Factors for FORM’s Q1 Earnings
FORM is expected to have benefited in the first quarter of 2026 from a combination of strong end-market demand, rising test complexity and internal operational improvements. Growth is primarily driven by robust demand in the DRAM segment, particularly from high-bandwidth memory (HBM3E and the early ramp of HBM4), as well as continued strength in non-HBM DRAM products like DDR5 and LPDDR4. These technologies increase probe card demand due to higher stack complexity and significantly greater test intensity, boosting both volume and value per unit.
The adoption of advanced packaging technologies, including chiplet architectures and CoWoS integration, is expected to have increased semiconductor test complexity. This is likely to have further supported demand for FormFactor’s advanced probe card solutions. The Foundry and Logic segment is expected to have grown sequentially, driven by data center applications such as network switches. This growth is likely to have been supported by broader momentum in artificial intelligence and high-performance computing, including investments in GPUs and custom ASICs.
Operational improvements such as better cycle times, higher manufacturing yields and cost-control measures are expected to have enabled increased output and supported gross margin expansion of more than 100 basis points. The probe card business remains the primary growth driver, offsetting seasonal softness in the systems segment, while the company continues to gain market share, particularly in HBM applications. Further support comes from early-stage silicon photonics production and broader industry tailwinds, including AI infrastructure expansion and increasing 5G deployment across mobility and automotive markets, all contributing to expected sequential revenue growth and improved profitability.
Macroeconomic and geopolitical uncertainties, tariffs and export controls impacting margins, supply chain disruptions, demand volatility, customer concentration (especially in HBM), competitive pressures and execution risks related to capacity expansion and new technology ramps remain a concern.
What Our Model Says About FORM
Our proven model does not conclusively predict an earnings beat for FormFactor this time. According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the exact case here.
FormFactor currently has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Sandisk SNDK has an Earnings ESP of +4.96% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sandisk shares have soared 317% in the year-to-date period. Sandisk is set to report third-quarter fiscal 2026 results on April 30.
Arista Networks ANET has an Earnings ESP of +2.79% and a Zacks Rank #2 at present.
Arista Networks shares have gained 35% in the year-to-date period. Arista Networks is scheduled to report its first-quarter 2026 results on May 5.
Extreme Networks EXTR has an Earnings ESP of +1.41% and a Zacks Rank #2 at present.
Extreme Networks shares have risen 5.6% in the year-to-date period. Extreme Networks is set to report its third-quarter 2026 results on April 29.
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Sandisk Corporation (SNDK): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).