Qnity Electronics, Inc.
For the period ended Mar 31, 2026. Filed May 12, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 12, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Segment Results
Our measure of profit/loss for segment reporting purposes is Adjusted Operating EBITDA as this is the manner in which our CODM assesses performance and allocates resources. We define Adjusted Operating EBITDA as earnings (i.e., “Income (loss) before income taxes") before interest, depreciation, amortization, non-operating pension / other post-employment benefits (“OPEB”) / charges, and foreign exchange gains / losses, indirect legacy costs, and adjusted for significant items.
SEMICONDUCTOR TECHNOLOGIES
| Semiconductor Technologies | Three Months Ended | |
|---|---|---|
| In millions | March 31, 2026 | March 31, 2025 |
| Net sales | $722 | $644 |
| Adjusted Operating EBITDA | $263 | $247 |
| Equity in earnings of nonconsolidated affiliates | $13 | $11 |
| Semiconductor Technologies | Three Months Ended |
|---|---|
| Percentage change from prior year | March 31, 2026 |
| Change in Net Sales from Prior Period due to: | |
| Local price & product mix | —% |
| Currency | — |
| Volume | 12 |
| Portfolio & other | — |
| Total | 12% |
Semiconductor Technologies net sales were $722 million for the three months ended March 31, 2026, up 12% as compared to $644 million for the three months ended March 31, 2025. Net sales increased due to a 12% increase in volume. The increase in sales volume was due to ongoing end-market demand strength related to improved customer utilization rates and growth in AI driven applications, particularly in advanced nodes, including advanced packaging and high bandwidth memory.
Adjusted Operating EBITDA was $263 million for the three months ended March 31, 2026, up 6% as compared to $247 million for the three months ended March 31, 2025, primarily due to volume growth partially offset by select growth investments primarily within R&D.
INTERCONNECT SOLUTIONS
| Interconnect Solutions | Three Months Ended | |
|---|---|---|
| In millions | March 31, 2026 | March 31, 2025 |
| Net sales | $593 | $474 |
| Adjusted Operating EBITDA | $169 | $114 |
| Equity in earnings (losses) of nonconsolidated affiliates | $— | $(2) |
| Interconnect Solutions | Three Months Ended |
|---|---|
| Percentage change from prior year | March 31, 2026 |
| Change in Net Sales from Prior Period due to: | |
| Local price & product mix | (1)% |
| Currency | 3 |
| Volume | 23 |
| Portfolio & other | — |
| Total | 25% |
Interconnect Solutions net sales were $593 million for the three months ended March 31, 2026, up 25% from $474 million for the three months ended March 31, 2025. Net sales increased primarily due to a 23% increase in volume and a 3% favorable currency impact slightly offset by a 1% decrease in local price and product mix. The increase in sales volume was due to continued demand strength from AI driven technology ramps and new business gains in advanced packaging, AI PCB and thermal management. The favorable currency impact was primarily driven by the euro.
Adjusted Operating EBITDA was $169 million for the three months ended March 31, 2026, up 48% as compared to $114 million for the three months ended March 31, 2025, primarily due to an increase in sales volume, favorable mix and productivity gains.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.