Ultra Clean Holdings (UCTT) Company Report

Ultra Clean Holdings, Inc. (UCTT) announced the pricing of an upsized offering of $525.0 million aggregate principal amount of 0.00% convertible senior notes due 2031.
The notes will not bear regular interest and have an initial conversion price of approximately $84.75 per share, representing a 42.5% premium over the last reported sale price of $59.47 per share on February 26, 2026.
The company estimates net proceeds of approximately $511.1 million from the offering, which will be used to fund $21.9 million for capped call transactions, $40.0 million for the repurchase of 672,608 shares of common stock, and the remainder for general corporate purposes.
Concurrently, Ultra Clean amended its Credit Agreement to increase the maximum permitted "Consolidated Total Gross Leverage Ratio" to 6.00 to 1.00 for the fiscal periods ending March 31, 2026, and June 30, 2026.

15 hours ago

8-K

Ultra Clean Holdings Prices Upsized Convertible Senior Notes Offering

UCTT

Debt Issuance

Share Buyback

Ultra Clean Holdings, Inc. (UCTT) priced an upsized offering of $525.0 million aggregate principal amount of 0.00% convertible senior notes due 2031, with settlement scheduled for March 3, 2026.
The estimated net proceeds of approximately $511.1 million will be used to fund $21.9 million for capped call transactions, $40.0 million for the repurchase of 672,608 shares of common stock at $59.47 per share, and the remainder for working capital, debt prepayment, or general corporate purposes.
The notes have an initial conversion price of approximately $84.75 per share, representing a 42.5% premium over the last reported sale price of $59.47 per share on February 26, 2026.

22 hours ago

Press Release

Ultra Clean Holdings, Inc. Announces Proposed Convertible Senior Notes Offering

UCTT

Debt Issuance

Share Buyback

Ultra Clean Holdings, Inc. (UCTT) announced its intention to offer $400 million aggregate principal amount of convertible senior notes due March 15, 2031, in a private offering, with an option for initial purchasers to buy an additional $60 million.
The net proceeds from the offering are intended to fund capped call transactions, repurchase up to $40 million of its common stock, and be used for working capital, prepayment of a portion of its outstanding term loan, and other general corporate purposes.
In connection with the offering, the company expects to amend its Credit Agreement to modify the consolidated total gross leverage ratio financial maintenance covenant, increasing it to 6.00 to 1.00 for a specified period.

2 days ago

8-K

Ultra Clean Announces Proposed Convertible Senior Notes Offering

UCTT

Debt Issuance

Share Buyback

Ultra Clean Holdings, Inc. announced its intention to offer $400 million aggregate principal amount of convertible senior notes due 2031 in a private offering to qualified institutional buyers.
The notes will be senior, unsecured obligations maturing on March 15, 2031, with noteholders having conversion rights and Ultra Clean having redemption options under specific conditions.
The company intends to use the net proceeds to fund capped call transactions, repurchase up to $40 million of its common stock, and for working capital, prepayment of a term loan, and other general corporate purposes.
Ultra Clean also expects to grant the initial purchasers an option to buy up to an additional $60 million principal amount of notes.

2 days ago

Press Release

Ultra Clean Holdings Reports Q4 2025 Results and Provides Q1 2026 Guidance

UCTT

Earnings

Guidance Update

New Projects/Investments

Ultra Clean Holdings reported Q4 2025 total revenue of $506.6 million and non-GAAP EPS of $0.22. The company also generated $8.1 million in operating cash flow and held a cash balance of $311.8 million for the quarter.
For Q4 2025, products revenue was $442.4 million with a non-GAAP gross margin of 14.1%, while services revenue reached $64.2 million with a non-GAAP gross margin of 29.7%.
The company issued Q1 2026 guidance, projecting revenue between $505 million and $545 million and EPS between $0.18 and $0.34.
UCT's 2030 corporate vision aims for $4 billion in revenue, gross margin greater than 20%, and operating margin greater than 10%.

4 days ago

Presentation

Ultra Clean Holdings Reports Q4 2025 Results and Provides Q1 2026 Guidance

UCTT

Earnings

Guidance Update

Revenue Acceleration/Inflection

For Q4 2025, Ultra Clean Holdings reported total revenue of $506.6 million, a total gross margin of 16.1%, and earnings per share of $0.22. Full-year 2025 total revenue was $2.1 billion, which was roughly flat compared to 2024.
For Q1 2026, the company projects total revenue to be between $505 million and $545 million, with EPS in the range of $0.18-$0.34. Gross margins are expected to be roughly the same or slightly up from Q4 2025, with sequential expansion anticipated from Q2 2026 onwards.
Ultra Clean Holdings is entering a structural expansion of wafer fab equipment (WFE) driven by AI infrastructure and physical AI demand, with industry estimates suggesting the semiconductor market could reach $1 trillion by 2027. The company expects 15%-20% year-over-year WFE growth in 2026, with demand being second-half weighted.
UCT currently has capacity to support approximately $3 billion in revenue at 65% utilization and is focused on reaching a long-term $4 billion annual run rate, expecting to grow on par with or higher than WFE growth.

4 days ago

Transcript

Ultra Clean Holdings Reports Q4 2025 Results and Provides Q1 2026 Guidance

UCTT

Earnings

Guidance Update

Revenue Acceleration/Inflection

Ultra Clean Holdings reported Q4 2025 revenue of $506.6 million and EPS of $0.22, contributing to a full-year 2025 revenue of $2.1 billion.
For Q1 2026, the company projects revenue between $505 million and $545 million and EPS in the range of $0.18 to $0.34.
Management anticipates a structural expansion of wafer fab equipment (WFE), forecasting 15%-20% year-over-year growth for 2026, with a significant increase in revenue expected in the second half driven by AI infrastructure and physical AI demand.
UCT currently operates at 65% utilization with capacity for $3 billion in revenue, and expects only modest investment to support a $4 billion annual run rate. Gross margins are projected to be roughly flat or slightly up in Q1 2026, followed by meaningful sequential expansion throughout the remainder of the year.

4 days ago

Transcript

Ultra Clean Holdings Reports Q4 2025 Results and Provides Q1 2026 Guidance

UCTT

Earnings

Guidance Update

Revenue Acceleration/Inflection

Ultra Clean Holdings reported non-GAAP total revenue of $506.6 million and EPS of $0.22 for Q4 2025, with full-year 2025 revenue reaching $2.1 billion.
For Q1 2026, the company projects total revenue between $505 million and $545 million and EPS in the range of $0.18-$0.34.
The company anticipates a structural expansion of wafer fab equipment (WFE) driven by AI infrastructure and physical AI demand, with industry projections suggesting the semiconductor market could reach $1 trillion in annual revenue by 2027.
Ultra Clean Holdings expects 15%-20% year-over-year WFE growth in 2026 and aims to grow on par with or higher than WFE, with demand expected to be second-half weighted.
The company currently has capacity to support approximately $3 billion in revenue at 65% global utilization and targets a $4 billion annual run rate with only modest incremental clean room investment.

4 days ago

Transcript

Ultra Clean Holdings, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results

UCTT

Earnings

Guidance Update

Demand Weakening

Ultra Clean Holdings, Inc. (UCTT) reported Q4 2025 GAAP total revenue of $506.6 million and a net loss of $(3.3) million or $(0.07) per diluted share, an improvement from the prior quarter's net loss of $(10.9) million.
For full year 2025, UCTT's GAAP total revenue was $2,054.0 million with a net loss of $(181.2) million or $(4.00) per diluted share, primarily due to a $151.1 million pre-tax, noncash goodwill impairment charge.
On a non-GAAP basis, net income for Q4 2025 was $10.0 million or $0.22 per diluted share, and for full year 2025 was $47.7 million or $1.05 per diluted share.
The company provided Q1 2026 outlook, projecting revenue between $505 million and $545 million, and non-GAAP diluted net income per share between $0.18 and $0.34.

4 days ago

8-K

Ultra Clean Holdings Reports Q4 and Full Year 2025 Financial Results

UCTT

Earnings

Guidance Update

Demand Weakening

Ultra Clean Holdings reported Q4 2025 GAAP revenue of $506.6 million and a net loss of $(3.3) million or $(0.07) per diluted share. Non-GAAP net income for the quarter was $10.0 million or $0.22 per diluted share.
For the full year 2025, GAAP revenue was $2,054.0 million, with a net loss of $(181.2) million or $(4.00) per diluted share, primarily due to a $151.1 million pre-tax, noncash charge related to goodwill impairments. Non-GAAP net income for the full year was $47.7 million or $1.05 per diluted share.
The company provided Q1 2026 revenue guidance in the range of $505 million to $545 million, and non-GAAP diluted net income per share is expected to be between $0.18 and $0.34.