Lam Research Corporation · LRCX · Next earnings

Lam Research Corporation reports Wednesday, Oct 21, 2026

LRCX reports after market close with consensus EPS at $2.15 and revenue at $8.13B. Last quarter: Lam Research Q3 FY2026: Record Revenue and EPS Beat on AI-Driven Chip Demand

Reports After market close31 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $2.15 Calendar consensus
Consensus revenue $8.13B Calendar consensus
Report date Oct 21, 2026 Wednesday, date estimated
Session After market close 31 days away

Where LRCX left off: FY2026 Q3

Full report

Lam Research Q3 FY2026: Record Revenue and EPS Beat on AI-Driven Chip Demand

EPS surprise +8.1% Reported $1.47 vs $1.36
Revenue surprise +1.6% Reported $5.84B vs $5.75B
Stock move -2.6% Event window
Subsequent drift +16.9% Up to 20 sessions

Management maintained June-quarter guidance of $6.6 billion plus or minus $400 million in revenue and 50.5% plus or minus 1 percentage point gross margin. This represents a step up from the prior quarter's March guidance of $5.7 billion plus or minus $300 million and approximately 49% gross margin. Guidance sentiment was maintained, reflecting confidence in continued AI-driven demand. Capex is expected to remain at 4-5% of revenue to fund growth initiatives.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Potential slowdown in memory cycles and reliance on customer down-payments, which are at a 4-year low.
  • High industry utilization limits further sequential growth in spares and services.
  • Inventory and supply-chain management challenges amid rapid demand acceleration.
  • Declining installed wafer capacity (down approximately 20% YoY) could pressure future growth.
  • Uncertainty around large new fab projects and clean-room availability.

Questions analysts left open

  • Decomposition of the 50.5% gross-margin guidance and underlying mix effects.
  • Capacity constraints and lead-time pressures for new tool orders.
  • Sustainability of CSBG services growth amid already-high industry utilization.
  • Impact of falling customer down-payments (at a 4-year low) on cash flow.
  • Visibility and timing of 2027 WFE growth and large fab project commitments.

Ask FN2 about LRCX next report

Transcript, numbers and history already loaded
What should I watch for in LRCX's next earnings report?How did LRCX guide last quarter, and is consensus above or below that?Give me the bull and bear case going into LRCX earnings.

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Get the LRCX recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Recent LRCX quarters

All LRCX earnings
-2.6%FY2026 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.