Skyworks Q3 Revenue $935M; Qorvo Merger Progress; $2B Buyback
Skyworks Solutions reported solid third fiscal quarter 2026 results with revenue of $935 million and non-GAAP diluted EPS of $1.08, both exceeding expectations. The company provided an optimistic update on the pending Qorvo merger, expecting to close within the calendar year and announcing plans to raise approximately $2 billion in acquisition debt financing. Additionally, Skyworks approved a new capital allocation framework for the combined company, including a new $2 billion stock repurchase program and the discontinuation of quarterly dividends. For the fourth fiscal quarter, Skyworks anticipates revenue between $1,010 million and $1,060 million, with non-GAAP diluted EPS of $1.27 at the mid-point.
Key Highlights
- Qorvo merger regulatory approvals progressing, optimistic for calendar year close.
- Anticipates raising approximately $2 billion of acquisition debt financing for Qorvo.
- New $2 billion stock repurchase program approved, replacing previous one.
- Quarterly dividends will no longer be declared, capital redirected to higher-return uses.
- Q3 2026 Revenue: $935 million, above expectations.
- Q3 2026 GAAP Diluted EPS: $0.22; Non-GAAP Diluted EPS: $1.08, above expectations.
- Q4 2026 Revenue Outlook: $1,010 million to $1,060 million.
- Q4 2026 Non-GAAP Diluted EPS Outlook: $1.27 at the mid-point of revenue range.
Price Impact
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