Earnings call transcript: VAT Group Q3 2026 sales jump 46% as stock falls 5%

VAT Group AG reported impressive Q3 2026 earnings, with revenue jumping 46% to CHF 376 million, despite a slight shortfall from the forecasted CHF 377.46 million. Orders tripled year over year, while the backlog expanded by 280% to CHF 980 million. Backlog's book-to-bill ratio rose to 1.9 times, indicating strong demand. The semiconductor unit's orders increased 37% sequentially and 270% year over year, while global service orders rose 52% and global service sales grew by 4%.

The company sees continued growth into 2027, with guidance for Q4 sales between CHF 420 million and CHF 450 million. Management highlighted demand driven by the industry's shift towards advanced manufacturing, AI infrastructure spending, and the rise in semiconductor complexity. Despite valuations concerns, VAT's stock fell 5.07% to $602.8 in pre-market trading, yet remains 98% above its 52-week low. Analysts forecast earnings per share of $12.55 for fiscal 2026, indicating continued profitability.