Qnity forecasts upbeat full-year earnings as AI boom boosts demand

Feb 26 (Reuters) - Qnity ‌Electronics forecast ​full-year ​2026 earnings above analysts' estimates on Thursday, as the newly listed semiconductor ‌solutions provider benefits from strong demand for ⁠artificial intelligence, high‑performance computing and next‑generation connectivity.

The company's board ‌of directors also authorized ‌the repurchase of up to $500 million of outstanding common stock. Shares of the Wilmington, Delaware-based ​company rose about 2% in premarket trading.

Chip suppliers have been among the biggest beneficiaries ⁠of the investment surge by businesses upgrading infrastructure to support AI-driven ​workloads.

Qnity, which offers products used in advanced computing, data centers and high-speed networking, ​said it expects those ‌trends to continue through 2026.

The company was spun off from industrial materials ⁠maker DuPont in October and began trading as an independent public company in November.

Qnity forecast full-year revenue ⁠in the range of $4.97 billion to $5.17 billion, the mid-point ​of which is marginally above analysts' estimates of $5.06 billion according to data compiled by LSEG.

On an adjusted basis, ‌the company sees full-year profit per share in the range of $3.55 to $3.95, ‌compared with analysts' estimates of $3.14.

For the fourth quarter, ⁠Qnity posted revenue ‌of $1.19 billion, above ​analysts estimates of $1.16 billion.

(Reporting by Kritika Lamba in Bengaluru; Editing by Krishna Chandra ‌Eluri)

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