SANTA CLARA, Calif. — Semiconductor manufacturing equipment leader Applied Materials reported record fourth-quarter and full-year fiscal 2026 financial results after the closing bell on Thursday, November 12, 2026, according to Form 8-K financial disclosures filed with the U.S. Securities and Exchange Commission. For the fiscal quarter ended October 25, consolidated revenue jumped 53 percent year-over-year to $10.41 billion, while non-GAAP adjusted earnings per share climbed 92 percent to $4.16. Robust manufacturing demand generated record full-year operating cash flow of $8.87 billion, including $2.6 billion in quarterly free cash flow during the fourth quarter alone. Applied Materials delivered record non-GAAP earnings of $12.89 per share. Applied Materials' full-year fiscal 2026 revenue reached an all-time corporate record.
CEO Projects Over 40 Percent Growth in Semiconductor Systems
Applied Materials President and CEO Gary Dickerson stated: "Applied Materials delivered record results in fiscal 2026, and we are on track to grow our Semiconductor Systems business more than 40 percent in our calendar 2026 as AI continues to fuel strong incremental demand." Senior Vice President and CFO Brice Hill highlighted that the company's technology leadership in critical deposition and etch markets enabled record shareholder capital distributions exceeding $2.4 billion in the fourth quarter.
Largest Quarterly Share Buyback in Eight Years
Applied Materials returned $4.75 billion to equity holders across fiscal 2026, comprising $3.18 billion in share repurchases and $1.57 billion in cash dividends. Fourth-quarter capital returns included the company's largest quarterly share buyback in more than eight years.
During Thursday's post-earnings conference call, company executives noted that artificial intelligence infrastructure buildouts remain in early expansion phases with multi-quarter order visibility extending deep into fiscal 2027.
