Melexis NV reported first-quarter results that showed top-line strength relative to analyst forecasts, even as per-share profitability lagged estimates. The Belgian semiconductor supplier recorded Q1 revenue of €202 million, surpassing the consensus forecast of €199 million.
On margins, Melexis reported a gross margin of 39.9%, essentially in line with the consensus level of 39.7%. Operating profitability also outperformed the forecast, with an EBIT margin of 16.4% versus the expected 16.1%. However, earnings per share for the quarter were €0.57, below the consensus estimate of €0.62.
The company reiterated its outlook for the first half of 2026, stating that sales for H1 are expected to be similar to those in the first half of the prior year and that gross margin should be around 40%. Based on that guidance, Melexis anticipates Q2 revenue of approximately €208 million, which is slightly under the consensus projection of €211 million.
In commentary on demand, Melexis said the China automotive market has stabilized and showed signs of improvement heading into the second quarter, while demand in Europe remained healthy. Looking further ahead, the company expects sales in the second half of 2026 to grow compared with the first half, though it did not provide numerical targets for H2. Management noted that visibility into the third quarter is improving, while clarity on the fourth quarter remains limited.
Melexis also provided capital expenditure guidance for 2026, setting capex at around €40 million for the full year.
Taken together, the quarter presented a blend of positive revenue and margin surprises and an EPS miss, with management maintaining a cautious but steady H1 stance and signaling an improving backdrop in parts of its end markets.