MergerJul 28, 2026, 04:08 PM
Skyworks Progresses Qorvo Merger, Ends Dividend, Authorizes $2B Buyback
AI Summary
Skyworks Solutions reported solid third fiscal quarter 2026 results, with revenue of $935 million and non-GAAP diluted EPS of $1.08, both above expectations. The company announced significant progress on its pending combination with Qorvo, anticipating a close within the calendar year. In conjunction with the merger, Skyworks is implementing a new capital allocation framework, which includes ceasing quarterly cash dividends and authorizing a new $2.0 billion stock repurchase program through January 2029. The company also provided a positive outlook for the fourth fiscal quarter.
Key Highlights
- Qorvo merger regulatory approvals progressing, anticipating close within calendar year.
- Board decided to cease quarterly cash dividends on common stock going forward.
- Authorized new $2.0 billion stock repurchase program through January 2029.
- Q3 FY2026 Revenue was $935 million.
- Q3 FY2026 Non-GAAP Diluted EPS was $1.08.
- Q4 FY2026 revenue outlook is $1,010 million to $1,060 million.
- Q4 FY2026 non-GAAP diluted EPS outlook is $1.27.
- Broad Markets showed year-over-year growth, led by automotive and data center.
Price Impact
More from SWKS