Qorvo, Inc.

Qorvo reported Q1 results with net income of $85.8 million and diluted EPS of $0.96, alongside a revenue decrease to $784.8 million. The company provided an update on its proposed merger with Skyworks Solutions, Inc., noting stockholder approvals and progress on regulatory reviews, with hopes for a calendar year close. Qorvo also incurred $14.9 million in merger-related costs and $11.7 million in restructuring charges during the quarter.

Qorvo announced strong financial results for its fiscal 2027 first quarter, with non-GAAP diluted earnings per share increasing 78% year-over-year to $1.64 and non-GAAP gross margin expanding to 52.8%. The company reported revenue of $784.8 million. Due to a pending transaction with Skyworks, Qorvo has discontinued conducting conference calls and providing forward-looking guidance, though it still expects full-year fiscal 2027 non-GAAP diluted EPS to be above $7.00.

Qorvo, Inc. announced strong financial results for its fiscal 2027 first quarter, with non-GAAP diluted earnings per share jumping 78% year-over-year to $1.64 and non-GAAP gross margin expanding 880 basis points to 52.8%. GAAP revenue for the quarter was $784.8 million. The company now expects full-year fiscal 2027 non-GAAP diluted EPS to be above $7.00. Due to a pending transaction with Skyworks, Qorvo has discontinued providing forward-looking guidance.

Qorvo, a global provider of connectivity and power solutions, announced it will distribute its fiscal 2027 first quarter financial results on Tuesday, July 28, 2026, at approximately 4:00 p.m. ET. The results will be available on the company's Investor Relations website. Due to a pending transaction with Skyworks, Qorvo has discontinued conducting conference calls and providing forward-looking guidance.

Qorvo, Inc. announced its 2026 Annual Meeting of Stockholders to be held on August 11, 2026, where shareholders will vote on the election of 10 director nominees, an advisory resolution on executive compensation, and the ratification of Ernst & Young LLP as the independent auditor. The company also noted the prior stockholder approval of its merger agreement with Skyworks Solutions, Inc. on February 11, 2026. Qorvo reported strong fiscal 2026 financial performance, with gross margin increasing to 45.9%, operating income rising to $411.4 million, and diluted EPS reaching $3.62.

Qorvo, Inc. has entered into supplemental indentures for its 4.375% Senior Notes due 2029 and 3.375% Senior Notes due 2031. These actions are in connection with the previously announced proposed merger of Qorvo into Skyworks Solutions, Inc. Skyworks is offering to exchange Qorvo's outstanding notes for new Skyworks notes and has successfully solicited consents from noteholders to eliminate substantially all restrictive covenants and certain other provisions in the indentures. The amendments will become operative upon the consummation of the mergers or settlement of the exchange offers.

Qorvo, Inc.'s Compensation Committee approved performance-based restricted stock units (PBRSUs) for fiscal year 2027 for its named executive officers, with a fair market value of $103.97 per share. These awards are tied to key financial metrics, including non-GAAP operating income (50%), gross margin (25%), and revenue (25%), over one-year to three-year performance periods. This structure was adopted in response to shareholder feedback from the 2025 annual meeting, removing objectives-based metrics used previously. Additionally, a retention award was granted to Mr. Philip J. Chesley, comprising 9,618 service-based restricted stock units and 9,618 PBRSUs linked to organic HPA revenue growth.

Qorvo and Skyworks Solutions stockholders approved their merger agreement on February 11, 2026, with completion anticipated in early calendar year 2027, subject to regulatory approvals. The company reported a market value of $7.87 billion for non-affiliate common stock as of September 27, 2025, and 88.01 million shares outstanding as of May 1, 2026. Qorvo also noted significant customer concentration, with Apple accounting for 50% of fiscal 2026 revenue and Samsung 10%, and has been consolidating its manufacturing footprint by selling its North Carolina facility and closing its Costa Rica facility.

Qorvo, Inc. announced it will distribute its fiscal 2026 fourth quarter financial results on Tuesday, May 5, 2026, at approximately 4:00 p.m. ET. The results will be accessible through a press release on the company's Investor Relations website. Due to a pending transaction with Skyworks, Qorvo has ceased conducting conference calls and providing forward-looking guidance.