Skyworks Solutions reported third quarter fiscal 2026 revenue of $934.8 million and non-GAAP diluted EPS of $1.08, exceeding analyst expectations. The company also announced a significant shift in its capital allocation strategy in conjunction with its pending combination with Qorvo.
Key Highlights
- Revenue and non-GAAP EPS beat consensus estimates by 1.4% and 4.9%, respectively, driven by healthy mobile demand and year-over-year growth in the Broad Markets segment.
- The company announced a new capital allocation framework, authorizing a new $2.0 billion stock repurchase program and suspending its quarterly cash dividend to redirect capital.
- Skyworks provided fourth quarter guidance for revenue between $1,010 million and $1,060 million, with non-GAAP diluted EPS of $1.27 at the midpoint.
- Management expressed optimism that the pending combination with Qorvo could close within the calendar year.