How did Skyworks perform in the quarter ended December 27, 2024?

Revenue was $1.068 billion, with GAAP net income of $162.0 million and GAAP diluted EPS of $1.00. Both were lower than the prior-year quarter's $1.2015 billion in revenue and $1.44 in GAAP diluted EPS. Management said revenue grew 4% sequentially and surpassed the midpoint of guidance.

What is the company guiding for the March 2025 quarter?

Revenue is expected to be between $935 million and $965 million, with non-GAAP diluted EPS of $1.20 at the revenue midpoint. Management expects a mid-to-high teens sequential decline in mobile, consistent with historical seasonal patterns, and additional sequential and year-over-year growth in broad markets.

What capital return actions did the board approve?

The board declared a $0.70 per share cash dividend payable March 17, 2025, to stockholders of record on February 24, 2025. It also authorized a new $2.0 billion stock repurchase program through February 3, 2027, which replaces the $2.0 billion program approved January 31, 2023.

How will the repurchase program be funded and executed?

The company expects to fund the program from working capital. Timing and amounts will be set by management based on market conditions and other factors, and the program may be suspended or discontinued at any time.

What was the cash flow profile this quarter?

Operating cash flow was $377.2 million, versus $774.9 million a year earlier, and non-GAAP free cash flow was $338.2 million, versus $752.7 million. Dividends paid were $112.5 million in the quarter.

SWKS 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed February 5, 2025. Cited figures are marked; the original filing is the authoritative source.

Skyworks Solutions, Inc. (Nasdaq: SWKS) filed this Form 8-K on February 5, 2025 to furnish its press release announcing results for the three-month period ended December 27, 2024 (fiscal Q1 2025), and to disclose a new dividend and stock repurchase authorization.

Revenue was $1.068 billion^a, compared with $1.2015 billion in the prior-year quarter. GAAP net income was $162.0 million, or $1.00 per diluted share, versus $231.3 million, or $1.44 per diluted share, a year earlier. Non-GAAP diluted EPS was $1.60, versus $1.97 in the prior-year period.

GAAP operating income was $181.1 million^b, compared with $258.3 million, and non-GAAP operating income was $284.8 million, compared with $365.7 million. Operating cash flow was $377.2 million and non-GAAP free cash flow was $338.2 million, compared with $774.9 million and $752.7 million in the prior-year quarter. For the March 2025 quarter, the company guided revenue of $935 million to $965 million and non-GAAP diluted EPS of $1.20 at the revenue midpoint.

Management said it anticipates a mid-to-high teens sequential decline in mobile, consistent with seasonal patterns, and expects additional sequential and year-over-year growth in broad markets. The board declared a $0.70^c per share cash dividend payable March 17, 2025, to holders of record on February 24, 2025. It also authorized a new $2.0 billion share repurchase program running through February 3, 2027, which replaces the $2.0 billion program approved January 31, 2023.

The company expects to fund repurchases from working capital, and the program may be suspended or discontinued at any time. As of December 27, 2024, cash, cash equivalents, and marketable securities totaled $1,754.8 million^d and debt was $994.7 million.

02—Key points

Key Highlights

Q1 fiscal 2025 revenue was $1.068 billion, versus $1.2015 billion in the prior-year quarter.
GAAP diluted EPS was $1.00 versus $1.44 a year earlier; non-GAAP diluted EPS was $1.60 versus $1.97.
GAAP operating income fell to $181.1 million from $258.3 million; non-GAAP operating income was $284.8 million versus $365.7 million.
Operating cash flow was $377.2 million and non-GAAP free cash flow was $338.2 million, down from $774.9 million and $752.7 million a year earlier.
Guidance for the March 2025 quarter calls for revenue of $935 million to $965 million and non-GAAP diluted EPS of $1.20 at the midpoint, with a mid-to-high teens sequential mobile decline.
The board declared a $0.70 per share dividend payable March 17, 2025, and authorized a new $2.0 billion repurchase program through February 3, 2027.
Cash, cash equivalents, and marketable securities were $1,754.8 million at December 27, 2024, against debt of $994.7 million.

03—Questions

Frequently Asked Questions

How did Skyworks perform in the quarter ended December 27, 2024?
Revenue was $1.068 billion, with GAAP net income of $162.0 million and GAAP diluted EPS of $1.00. Both were lower than the prior-year quarter's $1.2015 billion in revenue and $1.44 in GAAP diluted EPS. Management said revenue grew 4% sequentially and surpassed the midpoint of guidance.
What is the company guiding for the March 2025 quarter?
Revenue is expected to be between $935 million and $965 million, with non-GAAP diluted EPS of $1.20 at the revenue midpoint. Management expects a mid-to-high teens sequential decline in mobile, consistent with historical seasonal patterns, and additional sequential and year-over-year growth in broad markets.
What capital return actions did the board approve?
The board declared a $0.70 per share cash dividend payable March 17, 2025, to stockholders of record on February 24, 2025. It also authorized a new $2.0 billion stock repurchase program through February 3, 2027, which replaces the $2.0 billion program approved January 31, 2023.
How will the repurchase program be funded and executed?
The company expects to fund the program from working capital. Timing and amounts will be set by management based on market conditions and other factors, and the program may be suspended or discontinued at any time.
What was the cash flow profile this quarter?
Operating cash flow was $377.2 million, versus $774.9 million a year earlier, and non-GAAP free cash flow was $338.2 million, versus $752.7 million. Dividends paid were $112.5 million in the quarter.

04—Continue

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