Everpure F1Q27 Review: Stronger Revenue/ EPS Outlook as Demand Overwhelms GM Headwinds; Reiterate OW

研报英文原文证据摘录

Everpure F1Q27 Review: Stronger Revenue/ EPS Outlook as Demand Overwhelms GM Headwinds; Reiterate OW

J P M O R G A N North America Equity Research

28 May 2026

Everpure Overweight

P, P US

F1Q27 Review: Stronger Revenue/ EPS Outlook as Price (27 May 26):$85.74

Demand Overwhelms GM Headwinds; Reiterate OW ▲Price Target (Dec-26):$92.00 Prior (Dec-26):$80.00

IT Hardware/ Telecom & Networking

Equipment

Samik Chatterjee, CFA AC

(1-212) 622-0798

samik.x.chatterjee@jpmorgan.com

Everpure is balancing the opportunity for share gains while managing the volatile

Manmohanpreet Singh

cost environment in relation to memory cost increases which are moderating the (1-212) 622-4527

trajectory of gross margin recovery in the Product segment relative to earlier manmohanpreet.singh@jpmchase.com

expectations; although the net effect of the above drivers is still a raise to operating Joseph Cardoso

margin and earnings expectations for the year, even though gross margin (1-212) 622-9036

expectations are slightly lower. While most of the feedback from the IT channel joseph.cardoso@jpmchase.com

and OEMs is increasingly reinforcing robust customer demand for IT Marc Vitenzon

infrastructure products continuing for the remainder of the year despite the (1-212) 622-3342

magnitude of price increases, Everpure is taking a more conservative view of marc.vitenzon@jpmchase.com

demand and the company is still embedding a deceleration in y/y revenue growth Akanksh Chauhan

in 2H over 1H despite price increases as well as ramp in hyperscaler revenues. On (1-212) 622-0045

the demand front, Pure’s 20%+ growth on volume basis, with the remainder of the akanksh.chauhan@jpmorgan.com

J.P. Morgan Securities LLC

35% growth in the quarter being supported by pricing and pull-forwards, points to