BE Semiconductor (BESI) Stock Jumps 3% as Orders More Than Double in Q1

TLDR

• BESI’s Q1 order bookings jumped 104.5% year-on-year to €269.7 million, beating consensus by ~4%
• Net profit rose 63.8% to €51.6 million; revenue up 28.3% to €184.9 million
• Strong demand driven by hybrid bonding tech and AI chip packaging equipment
• Q2 revenue guidance of +30% to +40% sequentially, with gross margins expected at 64–66%
• A second customer began qualification in high bandwidth memory (HBM) hybrid bonding

BE Semiconductor Industries posted a strong first quarter, with orders more than doubling and profit jumping nearly 64% as AI-driven demand for advanced chip packaging continues to accelerate.

The Dutch equipment maker reported order bookings of €269.7 million in Q1 2026, up 104.5% from €131.9 million a year earlier. That figure came in roughly 4% above analyst consensus, according to J.P. Morgan.

Revenue for the quarter came in at €184.9 million, a 28.3% increase year-on-year. Net profit reached €51.6 million, up from €31.5 million in Q1 2025, helped by both top-line growth and recent cost control efforts.

The company’s order book more than doubled in the quarter to €268.7 million. Management cited strong shipments across high-end mobile and 2.5D AI computing applications.

Hybrid Bonding Gaining Traction

Hybrid bonding — a packaging method that bonds two chips directly on top of each other — remains a key growth driver for Besi. The technology is seen as critical for next-generation AI and high bandwidth memory applications.

A second customer began qualification of Besi’s hybrid bonding tech in the high bandwidth memory market during the quarter. That’s seen as a positive signal by analysts tracking HBM adoption.

J.P. Morgan noted the results show hybrid bonding adoption is gathering pace in the memory market, calling it “a positive print” from the company.

Besi’s first-mover position in hybrid bonding has helped it benefit directly from the broader AI chip buildout. Customers include chipmaking giants TSMC, Intel, and Samsung Electronics — all of which are expanding capacity.

TSMC and Samsung both recently indicated plans to further increase production, which is expected to drive more equipment orders for Besi going forward.

Q2 Guidance Points Higher

For the second quarter, Besi guided revenue growth of 30% to 40% sequentially, based off the €184.9 million Q1 baseline. That implies Q2 revenue in the range of roughly €240 million to €259 million.

Gross margins are expected to improve to between 64% and 66% in Q2. Net income is forecast to see a meaningful expansion.

The guidance reflects continued strength in AI-related demand, even as other parts of the chip market — automotive, PC, and consumer memory — remain softer.

Elsewhere in the European chip sector, STMicroelectronics also reported Q1 results above estimates, pointing to recovery signs in its key markets.

BESI stock was up around 3% in early Amsterdam trade on Thursday, outperforming the Dutch AEX index. The stock has now gained roughly 79% year-to-date including Thursday’s session.

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