How did Skyworks perform in its fiscal fourth quarter of 2024?

Revenue was $1.025 billion, down from $1.2188 billion a year earlier. GAAP diluted EPS was $0.37 and non-GAAP diluted EPS was $1.55. GAAP operating income was $59.5 million, which included $132.5 million of impairment, restructuring, and other charges.

What did Skyworks guide for the first fiscal quarter of 2025?

The company expects revenue of $1.05 billion to $1.08 billion and non-GAAP diluted EPS of $1.57 at the midpoint of the revenue range. Management expects mobile revenue to rise mid-single digits sequentially, and it anticipates further modest sequential growth in broad markets with a return to year-over-year growth, despite excess inventory in select segments.

How much cash did Skyworks generate and what did it do with it?

Full-year net cash provided by operating activities was $1.825 billion and non-GAAP free cash flow was $1.668 billion. Cash and marketable securities rose to $1.574 billion, debt fell to $994.3 million, and the company paid $439.1 million in dividends during the year.

What dividend did Skyworks declare?

The board declared a cash dividend of $0.70 per share on common stock, payable December 24, 2024, to stockholders of record at the close of business on December 3, 2024.

What did management say drives the outlook?

Management said it believes AI is poised to drive a transformative smartphone upgrade cycle that increases demand for higher levels of RF complexity, and that the company is in the early stages of this multi-year trend.

SWKS 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed November 12, 2024. Cited figures are marked; the original filing is the authoritative source.

Skyworks Solutions, Inc. (Nasdaq: SWKS) reported fourth-quarter and full-year fiscal 2024 results for the periods ended September 27, 2024, and declared a quarterly cash dividend of $0.70^a per share, payable December 24, 2024, to holders of record as of December 3, 2024.

Fourth-quarter revenue was $1.025 billion^b, versus $1.2188 billion a year earlier. GAAP operating income was $59.5 million and GAAP diluted EPS was $0.37, while non-GAAP operating income was $273.5 million and non-GAAP diluted EPS was $1.55. Full-year revenue was $4.178 billion, GAAP diluted EPS was $3.69, and non-GAAP diluted EPS was $6.27.

Fourth-quarter GAAP operating income included $132.5 million^c of impairment, restructuring, and other charges. Full-year net cash provided by operating activities was $1.825 billion, and non-GAAP free cash flow was $1.668 billion. Management stated that free cash flow was over $1.6 billion for the second year in a row and that fiscal 2024 ended with a record 40% free cash flow margin.

Cash, cash equivalents, and marketable securities rose to $1.574 billion^d from $738.5 million, and debt fell to $994.3 million from $1.292 billion. Management guided first-quarter fiscal 2025 revenue to $1.05 billion to $1.08 billion, with non-GAAP diluted EPS of $1.57 at the midpoint of the revenue range.

Management attributed its outlook to AI-driven smartphone upgrade expectations and expects mobile to rise mid-single digits sequentially, while noting excess inventory in some broad-market segments. The filing also includes a forward-looking statements disclaimer covering risks such as customer concentration, export restrictions, and geopolitical conditions.

02—Key points

Key Highlights

Q4 fiscal 2024 revenue was $1.025 billion, compared with $1.2188 billion in the prior-year quarter; full-year revenue was $4.178 billion versus $4.7724 billion.
GAAP diluted EPS was $0.37 for the quarter and $3.69 for the full year; non-GAAP diluted EPS was $1.55 for the quarter and $6.27 for the full year.
Q4 GAAP operating income was $59.5 million, reflecting $132.5 million in impairment, restructuring, and other charges; non-GAAP operating income was $273.5 million.
Full-year operating cash flow was $1.825 billion and non-GAAP free cash flow was $1.668 billion, with management citing a record 40% free cash flow margin.
Cash, cash equivalents, and marketable securities increased to $1.574 billion from $738.5 million, while debt decreased to $994.3 million from $1.292 billion.
Q1 fiscal 2025 guidance calls for revenue of $1.05 billion to $1.08 billion and non-GAAP diluted EPS of $1.57 at the midpoint.
The board declared a $0.70 per share cash dividend, payable December 24, 2024, to stockholders of record on December 3, 2024.

03—Questions

Frequently Asked Questions

How did Skyworks perform in its fiscal fourth quarter of 2024?
Revenue was $1.025 billion, down from $1.2188 billion a year earlier. GAAP diluted EPS was $0.37 and non-GAAP diluted EPS was $1.55. GAAP operating income was $59.5 million, which included $132.5 million of impairment, restructuring, and other charges.
What did Skyworks guide for the first fiscal quarter of 2025?
The company expects revenue of $1.05 billion to $1.08 billion and non-GAAP diluted EPS of $1.57 at the midpoint of the revenue range. Management expects mobile revenue to rise mid-single digits sequentially, and it anticipates further modest sequential growth in broad markets with a return to year-over-year growth, despite excess inventory in select segments.
How much cash did Skyworks generate and what did it do with it?
Full-year net cash provided by operating activities was $1.825 billion and non-GAAP free cash flow was $1.668 billion. Cash and marketable securities rose to $1.574 billion, debt fell to $994.3 million, and the company paid $439.1 million in dividends during the year.
What dividend did Skyworks declare?
The board declared a cash dividend of $0.70 per share on common stock, payable December 24, 2024, to stockholders of record at the close of business on December 3, 2024.
What did management say drives the outlook?
Management said it believes AI is poised to drive a transformative smartphone upgrade cycle that increases demand for higher levels of RF complexity, and that the company is in the early stages of this multi-year trend.

04—Continue

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