ACM Research, Inc. (ACMR) · Oct 28, 2026 · Earnings

ACM Research earnings preview beats revenue expectations by 17%

Beat — Preliminary revenue midpoint $362.5M vs ~$310.6M consensus

ACM Research’s preliminary Q3 earnings update points to $360M–$365M in revenue, well above consensus, before full results arrive November 5.

ACM Research is expanding from its core China-focused wafer-cleaning business into higher-growth electroplating and advanced-packaging equipment, with recent growth increasingly coming from those newer categories. Its principal operating subsidiary, ACM Shanghai, contributes most of consolidated revenue and net income; ACM owned 73.2% of it as of June 30, 2026. 〔0〕

The preliminary revenue signal is materially ahead of expectations. ACM expects Q3 revenue of $360 million to $365 million, or roughly $362.5 million at the midpoint, versus published consensus near $310.6 million—about a 17% upside surprise. The company also expects total shipments of $335 million to $340 million, representing 27% to 29% year-over-year growth, while revenue growth is expected at 34% to 36%.

MetricQ3 2026 preliminaryComparison
Revenue$360M–$365M34%–36% year-over-year
Total shipments$335M–$340M27%–29% year-over-year
Revenue midpoint~$362.5Mvs ~$310.6M consensus

This strengthens the growth story, not just the quarter. ACM’s latest reported quarter showed ECP and advanced-packaging revenue growing 168% and 153%, respectively, alongside a milestone shipment of its 2,000th ECP chamber. The preliminary Q3 revenue pace suggests that the broader product expansion is continuing to translate into customer deliveries and recognized sales rather than remaining only an order pipeline.

The surprise is meaningful but incomplete. This update gives no consolidated EPS, gross margin, operating income, cash flow, or product-category mix, and the figures remain preliminary and unaudited. The November 5 call is therefore still needed to determine how much of the revenue upside flowed through to profit and whether the full-year outlook moves higher. ACM says it will discuss full Q3 results and the remaining-year revenue outlook then. 〔1〕

Bottom line: This is a genuine upside read on demand and execution: preliminary revenue is tracking far above consensus and supports ACM’s expansion beyond cleaning tools. The key unanswered question is whether profitability and full-year guidance confirm the quality of that beat on November 5.

What to watch next

Full Q3 results and revenue outlook, November 5

Original filing on SEC EDGAR

More ACM Research, Inc. news

ACM Research earnings preview beats revenue expectations by 17% | ACMR Stock News
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