MKS Inc. (MKSI) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and MKS published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. MKS reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• MKS reports revenue by end market (shown here) and by three divisions: Vacuum Solutions, Photonics Solutions and Materials Solutions.
• On October 17, 2026, MKS agreed to sell its Ophir Optics business to TTM Technologies for $650 million in cash. The Q4 2026 guidance excludes the pending sale.

Source: MKS Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How MKS splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• MKS's Semiconductor revenue was $638 million in Q3 2026, up 54% from $415 million in Q3 2025, 45% of total revenue.
• MKS's Electronics & Packaging revenue was $415 million in Q3 2026, up 44% from $289 million in Q3 2025, 29% of total revenue.
• MKS's Specialty Industrial revenue was $360 million in Q3 2026, up 27% from $284 million in Q3 2025, 25% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, MKS said:

“Revenue of $1,490 million, plus or minus $40 million”

“Gross margin of 47.5%, plus or minus 1.0%”

“GAAP net income per diluted share of $4.04, plus or minus $0.38 and Non-GAAP net earnings per diluted share of $5.00, plus or minus $0.38”

“Adjusted EBITDA of $461 million, plus or minus $29 million”

Source: MKS Q3 2026 earnings release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MKSI forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for MKS's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

MKS sells instruments, subsystems, process control equipment and specialty chemicals to chip makers, electronics and packaging manufacturers and industrial customers. In Q3 2026 Semiconductor brought in $638 million of its record $1,413 million in net revenues, 45% of the total, Electronics & Packaging $415 million and Specialty Industrial $360 million. (MKS Q3 2026 earnings release, Nov 4, 2026; MKS Form 10-Q, Q3 2026, Nov 5, 2026)

MKS's Semiconductor revenue grew 54% and Electronics & Packaging 43% from a year earlier, each at or above the high end of MKS's guidance. The CEO tied the demand to stacking, scaling and new materials in chips, substrates and advanced PCBs. Specialty Industrial revenue rose to $360 million from $284 million. (MKS Q3 2026 earnings release, Nov 4, 2026)

By division, MKS's Vacuum Solutions Division brought in $576 million, the Materials Solutions Division $458 million and the Photonics Solutions Division $379 million. The 10-Q says Vacuum Solutions revenue rose $69 million from Q2 2026, mainly on sales of semiconductor capital equipment for deposition and etch and NAND memory production upgrades. (MKS Form 10-Q, Q3 2026, Nov 5, 2026)

Products made up $1,264 million of MKS's revenue and services $149 million. The 10-K says MKS's top ten customers accounted for 35% of net revenues in 2025, with none above 10%, and that its largest customers are concentrated in the semiconductor industry. (MKS Q3 2026 earnings release, Nov 4, 2026; MKS Form 10-K, 2025, Feb 24, 2026)

MKS's GAAP diluted EPS was $3.26, against $1.10 a year earlier, and non-GAAP EPS was $4.18, against $1.93. The biggest exclusion is $62 million of amortization of intangible assets, along with $5 million of restructuring, a $5 million loss on extinguishment of debt and $3 million of debt issuance cost amortization, less a $19 million tax effect. (MKS Q3 2026 earnings release, Nov 4, 2026)

MKS's diluted share count was 72.5 million, against 67.6 million a year earlier. For non-GAAP EPS MKS uses 69.9 million, after deducting 2.6 million shares for its convertible debt capped calls. The notes satisfied the stock price conversion condition and were classified as short-term debt at September 30, 2026. (MKS Q3 2026 earnings release, Nov 4, 2026)

Interest expense fell to $38 million from $53 million. MKS repaid $163 million of borrowings in the quarter and made a further $100 million voluntary prepayment on its USD term loan B in November 2026. The GAAP effective tax rate was 17.6%, against 12.3% a year earlier. On November 4, 2026 MKS approved a new share repurchase program of up to $500 million. (MKS Q3 2026 earnings release, Nov 4, 2026; MKS share repurchase and dividend release (Exhibit 99.2), Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

MKS gives a next-quarter outlook in its release, with a midpoint and a plus or minus range. For Q4 2026 it guided revenue of $1,490 million, plus or minus $40 million, gross margin of 47.5%, plus or minus 1.0%, GAAP EPS of $4.04, plus or minus $0.38, non-GAAP EPS of $5.00, plus or minus $0.38, and adjusted EBITDA of $461 million, plus or minus $29 million. (MKS Q3 2026 earnings release, Nov 4, 2026)

MKS said the guidance excludes the pending sale of its Ophir Optics business and reflects U.S. import tariffs and retaliatory actions by other countries up to the date of the release. (MKS Q3 2026 earnings release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover MKS, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones MKS's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MKSI is on is MKSI a buy or a sell?, what analysts expect next is on the MKSI forecast, and what the company does is on the MKS Inc. (MKSI) stock page.

Every number on this page can be traced to a document MKS published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.