泛林集团9月季度营收82.2亿美元创纪录：环比增22%、净利润27.5亿美元，12月季度展望营收86亿美元上下
弗里蒙特——泛林集团（Lam Research）10月21日盘后发布截至2026年9月27日的季度（公司2027财年第一季度）业绩：营收82.2亿美元（精确值82.19亿美元），环比增长22%，去年同期为53.24亿美元。按美国通用会计准则（GAAP）计算，毛利润42.99亿美元、毛利率52.3%，营业利润率40.0%，净利润27.53亿美元、摊薄每股收益2.19美元；上季度营收为67.22亿美元、毛利率51.7%、营业利润率37.4%、净利润22.77亿美元、每股收益1.81美元。非GAAP口径毛利率52.4%、营业利润率40.2%、净利润27.7亿美元、每股收益2.20美元。
分收入类型看，系统收入57.33亿美元，上季度为42.50亿美元、去年同期为35.48亿美元；客户支持相关收入及其他为24.87亿美元。按地区分，当季收入中中国占35%、韩国占20%、中国台湾占18%、日本占9%、美国占8%、东南亚占6%、欧洲占4%。
总裁兼首席执行官蒂姆·阿彻（Tim Archer）说：「在人工智能推动半导体需求上升、器件复杂度增加的背景下，我们对运营执行的专注帮助泛林在9月季度实现了创纪录的营收、利润和每股收益。」「我们在技术拐点和制造产能上的战略投资正在见效，随着行业扩张，增强了我们跑赢晶圆制造设备市场的能力。」公司在新闻稿中以「创纪录」形容当季营收、利润与每股收益。
资产负债与现金流方面，9月季度末现金、现金等价物与受限现金合计74.5亿美元，高于6月季度末的56.0亿美元，公司称增量主要来自当季经营活动产生的现金，部分被股东回报与资本开支抵消。递延收入增至26.6亿美元，上季度末为24.3亿美元。
对截至2026年12月27日的季度，公司给出的展望为：营收86亿美元、上下浮动4亿美元；毛利率52.5%、上下浮动1个百分点；营业利润率40.5%、上下浮动1个百分点；每股收益2.33美元、上下浮动0.15美元；摊薄股数约12.53亿股，GAAP与非GAAP口径相同。
当季经营现金流35亿美元；公司当季回购股票10.2亿美元、派发股息3.254亿美元，并将季度股息上调27%至每股0.33美元。管理层表示，12月季度指引本可更高，但供应链限制迫使部分设备出货推迟至2027年3月季度；公司初步预计2027年晶圆制造设备支出将超过2,000亿美元，高于2026年的约1,500亿美元。中国营收占比已从6月季度的26%升至9月季度的35%，管理层预计12月季度将明显下降。业绩公布后，公司股价10月21日盘后下跌约6%，10月22日再跌11.76%，收于230.15美元；同日费城半导体指数下跌6.72%，30只成分股全数收跌。
Lam Research Posts Record $8.22 Billion September Quarter, Up 22% Sequentially: Net Income $2.75 Billion, December-Quarter Guidance $8.60 Billion Plus or Minus $400 Million
FREMONT, Calif. — Lam Research Corporation on Wednesday, October 21, announced financial results for the quarter ended September 27, 2026, its fiscal first quarter. Revenue was $8.22 billion ($8,219.4 million), up 22 percent from $6.72 billion in the June 2026 quarter and against $5.32 billion a year earlier. On a U.S. GAAP basis, gross margin was $4.30 billion, or 52.3 percent of revenue, operating margin was 40.0 percent, and net income was $2.75 billion, or $2.19 per diluted share, compared with gross margin of 51.7 percent, operating margin of 37.4 percent, net income of $2.28 billion and diluted EPS of $1.81 in the June quarter. Non-GAAP gross margin was 52.4 percent, non-GAAP operating margin was 40.2 percent, and non-GAAP net income was $2.77 billion, or $2.20 per diluted share.
Systems revenue was $5,732.9 million, up from $4,249.8 million in the June quarter and $3,547.6 million a year earlier, while customer support-related revenue and other revenue was $2,486.5 million. By region, China accounted for 35 percent of revenue in the September quarter, Korea 20 percent, Taiwan 18 percent, Japan 9 percent, the United States 8 percent, Southeast Asia 6 percent and Europe 4 percent.
"With AI driving higher semiconductor demand and greater device complexity, our focus on operational execution helped Lam deliver record revenue, profit, and earnings per share in the September quarter," said Tim Archer, Lam Research's president and chief executive officer. "Our strategic investments in technology inflections and manufacturing capacity are paying off, strengthening our ability to outgrow the wafer fabrication equipment market as the industry expands."
Cash, cash equivalents and restricted cash rose to $7.45 billion at the end of the September quarter from $5.60 billion at the end of the June quarter, and deferred revenue increased to $2.66 billion. For the quarter ending December 27, 2026, Lam guided revenue to $8.60 billion plus or minus $400 million, gross margin to 52.5 percent plus or minus 1 percent, operating margin to 40.5 percent plus or minus 1 percent, and net income per diluted share to $2.33 plus or minus $0.15, on a diluted share count of 1.253 billion.
The company generated $3.50 billion in operating cash flow in the quarter, returned $1.02 billion through share repurchases and $325.4 million in dividends, and raised its quarterly dividend 27% to $0.33 per share. Management said the December-quarter outlook would have been higher without supply constraints that pushed some equipment shipments into the March 2027 quarter, and the company preliminarily expects wafer fabrication equipment spending to exceed $200 billion in 2027, up from about $150 billion in 2026. China's share of revenue rose from 26% in the June quarter to 35% in September, and management expects it to fall meaningfully in December. Shares fell about 6% in after-hours trading on October 21 and dropped another 11.76% on October 22 to close at $230.15; the Philadelphia Semiconductor Index fell 6.72% the same day, with all 30 members lower.
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图片来源：图：泛林集团位于加州弗里蒙特的办公楼（资料图）。Olaf2 摄，CC BY-SA 4.0，取自维基共享资源。Photo: A Lam Research office building in Fremont, California (file photo). By Olaf2, CC BY-SA 4.0, via Wikimedia Commons.
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