Ultra Clean Holdings (UCTT) Company Report

Harjinder Bajwa departed Ultra Clean Holdings, Inc. effective January 25, 2026.
Robert Wunar has been appointed as the new Chief Operating Officer, with an effective start date of March 23, 2026.
Mr. Wunar brings over 30 years of operations and supply chain leadership experience in the semiconductor capital equipment industry, having most recently served as COO/Managing Director at Applied Materials, Inc..

2 days ago

Press Release

Ultra Clean CEO Outlines Growth Vision and WFE Outlook

UCTT

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Ultra Clean's CEO, James Scholhamer, projects the company to grow to $4 billion in revenue within the next three to five years, targeting a gross margin of over 20% and an operating margin exceeding 10%.
The company anticipates Wafer Fab Equipment (WFE) growth in the low- to mid-teen range for 2025-2026, with potential for further upside in the second half of 2026 driven by AI demand, memory market recovery, and eased geopolitical tensions.
Short-term strategic initiatives for Ultra Clean include ramp readiness, digital transformation, and NPI (New Product Introduction) enhancement to prepare for anticipated industry growth.
The service business, which focuses on cleaning and coating for leading-edge fabs, is expected to achieve double-digit growth in 2026 and contributes to a higher gross margin profile.
Ultra Clean's current manufacturing facilities can support $2.5 billion to $3 billion in revenue, with plans to expand infrastructure to support $4 billion in revenue within six to nine months to meet future demand.

Jan 13, 2026, 5:45 PM

Transcript

Ultra Clean CEO Outlines Growth Strategy and WFE Outlook

UCTT

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Ultra Clean's CEO, James Scholhamer, projects the company to grow into a $4 billion company with over 20% gross margin and over 10% OEM in the next three to five years.
The company anticipates low- to mid-teen WFE growth for 2025 to 2026, driven by strong AI data center demand, memory CapEx expansion, and easing geopolitical tensions with China.
UCT expects its service business to achieve double-digit growth in 2026 and aims for its laser products to reach 10% of total revenue in the same year.
Gross margin is expected to expand as the company reaches $2.5-$3 billion in revenue, further accelerating with a higher percentage of services and engineering products.
UCT's current facilities can handle up to $3 billion in revenue, with a 6-9 month build cycle to expand to $4 billion capacity.

Jan 13, 2026, 5:45 PM

Transcript

Ultra Clean CEO Outlines Long-Term Growth Targets and WFE Outlook

UCTT

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Ultra Clean's CEO, James Scholhamer, projects the company will grow to $4 billion in revenue within three to five years, aiming for 20-plus% gross margin and over 10% operating margin.
The company forecasts low- to mid-teen WFE growth for 2025 to 2026, with potential for increased upside in the second half of 2026 due to strong AI data center demand, memory CapEx, and reduced geopolitical tensions.
Ultra Clean anticipates its laser products will contribute 10% of revenue in 2026 and expects its service business to achieve double-digit growth in the same year.
Gross margin expansion is expected from leveraging current $2.5-$3 billion revenue capacity, building towards $4 billion infrastructure, and increasing the proportion of higher-margin services and engineering products.

Jan 13, 2026, 5:45 PM

Transcript

UCT Reports Q3 2025 Results, Provides Q4 Outlook, and Details Strategic Initiatives

UCTT

Earnings

Guidance Update

CEO Change

Ultra Clean Holdings (UCT) reported Q3 2025 revenue of $510 million and earnings per share (EPS) of $0.28, with a notable improvement in gross margins to 17%.
For Q4 2025, the company projects revenue to be between $480 million and $530 million and EPS in the range of $0.11 to $0.31.
New CEO James Xiao, in his first 60 days, is focusing on strengthening profitability, optimizing the global footprint, and positioning UCT for long-term growth, including migrating non-Chinese customer manufacturing out of China.
UCT renewed its share repurchase program for an additional three-year term, authorizing up to $150 million in repurchases with a maximum of $50 million per year, and repriced its Term B loan, lowering the interest rate margin by 50 basis points.
The company anticipates outgrowing wafer fab equipment (WFE) growth in calendar 2026, driven by strong long-term semiconductor market fundamentals, despite near-term volatility and reduced visibility.

Oct 28, 2025, 8:45 PM

Transcript

UCT Reports Q3 2025 Results, Provides Q4 Guidance, and Announces Leadership Transition

UCTT

Earnings

Guidance Update

CEO Change

UCT reported Q3 2025 non-GAAP revenue of $510 million and earnings per share (EPS) of $0.28, with gross margins improving to 17%.
For Q4 2025, the company projects revenue between $480 million and $530 million and EPS in the range of $0.11 to $0.31.
James Zhao has assumed the role of CEO, succeeding Clarence Granger, who is stepping down as Chairman.
UCT renewed its share repurchase program for up to $150 million over three years and repriced its Term B loan to optimize its capital structure.
The company is implementing a comprehensive transformation to enhance agility and profitability, including organizational flattening, business system streamlining, and tariff recovery efforts, and expects to outgrow Wafer Fab Equipment (WFE) growth in 2026.

Oct 28, 2025, 8:45 PM

Transcript

Ultra Clean Holdings Inc. Reports Q3 2025 Results and Provides Q4 Guidance

UCTT

Earnings

Guidance Update

Share Buyback

Ultra Clean Holdings Inc. (UCT) reported Q3 2025 revenue of $510 million and earnings per share (EPS) of $0.28, and provided Q4 2025 revenue guidance between $480 million and $530 million with EPS guidance in the range of $0.11 to $0.31.
The company renewed its share repurchase program for an additional three-year term, authorizing up to $150 million in repurchases with a maximum of $50 million per year, and repriced its Term B loan, lowering the interest rate margin by 50 basis points.
James Zhao, the new CEO, emphasized strengthening profitability and optimizing the global footprint. UCT substantially completed organizational flattening and integrated its SAP business system into the Fluid Solutions group, while also migrating non-Chinese customer manufacturing out of China.
Despite near-term volatility and reduced visibility, UCT anticipates outgrowing WFE growth in calendar 2026, driven by long-term semiconductor market demand from AI and high-performance computing.

Oct 28, 2025, 8:45 PM

Transcript

Ultra Clean Holdings Reports Q3 2025 Results and Announces Share Repurchase Program

UCTT

Earnings

Guidance Update

Share Buyback

Ultra Clean Holdings, Inc. reported Q3 2025 total revenue of $510.0 million, with a GAAP net loss of $(10.9) million or $(0.24) per diluted share, and non-GAAP net income of $12.9 million or $0.28 per diluted share.
For Q4 2025, the company anticipates revenue in the range of $480 million to $530 million, GAAP diluted net income (loss) per share between $(0.11) and $0.09, and non-GAAP diluted net income per share between $0.11 and $0.31.
The Board of Directors approved a share repurchase program on October 23, 2025, authorizing the purchase of up to $150 million of common stock over a three-year period.

Oct 28, 2025, 8:43 PM

8-K

Ultra Clean Holdings Reports Third Quarter 2025 Financial Results and Provides Q4 2025 Outlook

UCTT

Earnings

Guidance Update

Ultra Clean Holdings, Inc. reported total revenue of $510.0 million for the third quarter ended September 26, 2025, with a GAAP net loss of $(10.9) million or $(0.24) per diluted share.
On a non-GAAP basis, the company achieved net income of $12.9 million and $0.28 per diluted share for Q3 2025, driven by its highest gross margins for the year at 17.0%.
CEO James Xiao stated that AI-enabled high-performance computing remains the central force behind semiconductor innovation despite near-term volatility.
For the fourth quarter of 2025, the company expects revenue in the range of $480 million to $530 million and non-GAAP diluted net income per share between $0.11 and $0.31.

Oct 28, 2025, 8:05 PM

Press Release

Ultra Clean Holdings, Inc. Amends Credit Agreement

UCTT

Debt Issuance

Ultra Clean Holdings, Inc. (UCTT) executed an Eighth Amendment to its Credit Agreement on September 15, 2025.
Barclays Bank PLC serves as the administrative agent for the amended Credit Agreement, with HSBC Securities (USA) Inc. and Sumitomo Mitsui Banking Corporation acting as joint lead arrangers and bookrunners.
The amendment specifically addresses SeventhEighth Amendment Replacement Term Loans and SeventhEighth Amendment Replacement Term B Commitment, which constitute the sole class of Term Loans and Term B Lenders as of the amendment's effective date.
The Credit Agreement includes financial covenants, such as the Consolidated Total Gross Leverage Ratio and Consolidated Fixed Charge Coverage Ratio, with specified targets for various fiscal quarters through December 31, 2024.