inTest Corporation reported third quarter 2026 results that significantly outperformed analyst expectations on both the top and bottom lines. The performance was anchored by record-breaking order intake and substantial margin expansion resulting from a favorable product mix weighted toward semiconductor test equipment.
Key Highlights
- Record Orders and Backlog: Quarterly orders reached an all-time high of $49.4 million, up 31% year-over-year, pushing the ending backlog to $59.7 million.
- Semiconductor Surge: Semiconductor orders more than tripled year-over-year to $25.1 million, representing 51% of total quarterly orders, driven by demand for back-end testing of power and analog devices.
- Margin Expansion: Gross margin improved to 47.7%, a 580 basis point increase year-over-year, reflecting a shift toward higher-margin semiconductor revenue.
- Earnings Growth: Adjusted EPS of $0.18 beat the $0.11 consensus estimate, while GAAP net earnings reached $1.9 million compared to a loss in the prior-year period.