PLAB · PEAD ↓ 22

Photronics reported Q3 FY2026 EPS of $0.50 on 2026-08-26, beating the $0.40 consensus by $0.10 (+25.0%).

Print-day reaction was +3.2% versus the prior close, as the market absorbed a meaningful EPS beat on the open. The overnight gap to the T+1 open erased a portion of that gain, slipping -0.4%, signalling early fade pressure after hours. Over the following two trading sessions, price drifted sharply lower by -7.0%, reversing the initial positive reaction and pushing PLAB well below pre-earnings levels. Cumulative abnormal return of -4.2% versus SPY.US puts this in PEAD short territory; the drift reverses the initial beat-driven pop, and per the documented pattern the read holds through 2026-11-23.