By Elias Schisgall

Shares of Photronics plunged after the company reported second-quarter earnings and a third-quarter outlook below Wall Street estimates.

Shares were down 26% to $39.80 in pre-market trading on Thursday. The stock closed Wednesday down 1.7% at $53.51, up 67% year-to-date.

The technology company reported a second-quarter profit of $31.4 million, or 54 cents a share, compared with $8.9 million, or 15 cents a share, a year earlier.

Stripping out certain one-time items, the company reported adjusted earnings of 42 cents a share. Analysts polled by FactSet were expecting 53 cents a share.

Revenue ticked down to $209.9 million from $211 million. Analysts were expecting $216.5 million.

The company said it is facing some temporary headwinds, including cost pressures for original equipment manufacturers, delayed design releases, geopolitical uncertainty, and the shortage in memory chips.

It said the underlying long-term demand environment is strong.

For the current third quarter, the company is expecting adjusted earnings between 39 cents and 45 cents a share on revenue between $207 million and $215 million.

Analysts are expecting $218.9 million in revenue and adjusted earnings of 54 cents a share.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 28, 2026 08:13 ET (12:13 GMT)

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