Key insights
- SK Hynix reported strong Q1 2026 earnings, beating estimates with significant YoY and QoQ growth in revenue, operating profit, and net profit. Guidance for Q2 indicates continued growth in DRAM and NAND. Increased CapEx and HBM4 ramp-up plans signal positive momentum in the memory market, benefiting companies like Micron (MU) and supporting the AI sector's demand for advanced memory solutions. This suggests a bullish outlook for the semiconductor industry.
SK HYNIX Q1ā26 EARNINGS HIGHLIGHTS
š¹ Revenue: $35.6B (Est. $35.1B) š¢; +60% QoQ / +198% YoY
š¹ Operating Profit: $25.4B (Est. $24.6B) š¢; +96% QoQ / +405% YoY
š¹ Net Profit: $27.3B (Est. $20.8B) š¢; +165% QoQ / +398% YoY
š¹ Operating Margin: 72%
š¹ EBITDA Margin: 79%
Q2 Guide:
š¹ DRAM B/G: high single% increase QoQ
š¹ NAND B/G: mid teen% increase QoQ (including Solidigm)
Other Metrics:
š¹ HBM4: plan to ramp up volume in line with agreed schedule
š¹ CapEx: expected to increase significantly vs last year
Financials:
š¹ Cash: $36.7B; Debt: $13.1B
š¹ Gross Profit: $28.2B; +85% QoQ / +313% YoY
š¹ EBITDA: $28.0B; +82% QoQ / +284% YoY
š¹ Non-operating Profit: $9.5B
š¹ Income Before Tax: $34.9B
š¹ Tax Expense: $7.6B
š¹ COGS: $7.4B
š¹ SG&A: $2.8B
š¹ CF from Operating Activities: $17.9B
š¹ CF from Investing Activities: ($4.9B)
š¹ Acquisition of PP&E: ($5.2B)
š¹ CF from Financing Activities: ($2.0B)
FX used for USD conversion: $1 = ā©1,479 (mid-market; Apr 22, 2026)