Lam Research 10-Q Details Record $8.22B Quarter, $1.0B Accelerated Buyback
LRCX sits 70% above its 52-week low of $135.5 on elevated volume (2.4× avg).
Summary
Lam Research's 10-Q backs up the October 21 record quarter with $8.22B revenue, 52.3% gross margin and $2.75B net income, and discloses a $1.00B accelerated share repurchase that settles by December 27, 2026.
Key Events · Earnings and Guidance · LRCX
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Record September Quarter Confirmed
Revenue of $8.22B, up 22% from the June 2026 quarter's $6.72B, with gross margin of 52.3% and operating income of $3.28B.
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Net Income $2.75B, EPS $2.19
Diluted EPS of $2.19 on 1,255.8M diluted shares versus $1.81 in the June 2026 quarter; net income was $2.75B.
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Tax Rate Jumps to 16.9%
Effective tax rate rose from 10.9% in the June 2026 quarter, driven by a higher NCTI rate, a U.S. tax law change and the mix of income across jurisdictions.
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$1.0B Accelerated Share Repurchase
September 2026 ASRs with two financial institutions; initial delivery of ~2.3M shares (75% of the prepayment), full settlement expected in the quarter ended December 27, 2026. $3.03B remains authorized.
Analysis · LRCX · Technology
The headline numbers were already out on October 21, but the 10-Q is where the quality of the quarter shows: gross margin of 52.3% on $8.22B of revenue, $3.28B of operating income and $2.75B of net income, with $3.50B of operating cash flow funding a $1.00B accelerated share repurchase plus $325.4M of dividends. Cash rose to $7.44B from $5.58B. The one soft spot is the tax line — the effective rate jumped to 16.9% from 10.9% in the June quarter on the higher NCTI rate and a U.S. tax law change — which trims earnings relative to what the operating beat alone would imply. The September 2026 ASRs still have to settle by December 27, 2026, so the final share count and average repurchase price are not yet fixed.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.3% of the 1526 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.41%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LRCX was trading at $230.15 on NASDAQ in the Technology sector, with a market capitalization of approximately $288B. The 52-week trading range was $135.50 to $438.50. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.