Quarterly ResultAug 5, 2026, 04:10 PM
Cirrus Logic Q1 Net Sales Up 12.9% to $459.7M; EPS $1.47
AI Summary
Cirrus Logic reported strong first-quarter fiscal year 2027 results, with net sales increasing by 12.9% to $459.7 million and diluted EPS rising by 28.9% to $1.47. The company saw robust demand for smartphone products and made progress in new technologies for AI-enabled PCs and metrology applications. Additionally, Cirrus Logic entered a new $600 million wafer supply agreement with GlobalFoundries for 2027-2028 and updated its revolving credit facility.
Key Highlights
- Net sales increased 12.9% to $459.7 million for Q1 FY27.
- Diluted EPS rose 28.9% to $1.47 for Q1 FY27.
- Net income grew 26.6% to $76.9 million in Q1 FY27.
- Entered new $600 million wafer supply agreement with GlobalFoundries for 2027-2028.
- Repurchased $34.5 million of common stock in Q1 FY27; $239.6 million remains.
- Updated $350 million revolving credit facility, maturing May 2031.
- Effective tax rate decreased to 18.4% due to R&D expensing.
- IRS proposed $168.3M tax and $63.7M penalties; company disputes.
Price Impact
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