01—Abstract
Summary
Summary of the 8-K filed May 5, 2026. Cited figures are marked; the original filing is the authoritative source.
Skyworks Solutions, Inc. reported second fiscal quarter 2026 results for the three- and six-month periods ended April 3, 2026.
Revenue for the quarter was $944 milliona (net revenue of $943.7 million), with GAAP operating income of $42.1 million and GAAP diluted EPS of $0.24. On a non-GAAP basis, operating income was $188.9 million and non-GAAP diluted EPS was $1.15. For the six months, net revenue was $1,979.1 million, GAAP diluted EPS was $0.76 and non-GAAP diluted EPS was $2.69.
Management said Mobile outperformed expectations and Broad Markets delivered double-digit year-over-year growth driven by Wi-Fi, data center and automotive. The company also highlighted a multi-generational design win with a leading Android OEM expected to generate over $1 billionb in revenue through 2030. For the third fiscal quarter of 2026, the company guided revenue to $900 million to $950 million and non-GAAP diluted EPS of $1.03 at the midpoint of the revenue range.
Management expects Mobile to decline low-single digits sequentially and Broad Markets to grow modestly sequentially, representing approximately 43% of sales. Cash flow weakened in the quarter: GAAP operating cash flow was $50.3 millionc and non-GAAP free cash flow was negative $32.0 million, reflecting capital expenditures of $82.3 million. The board declared a $0.71 per share cash dividend payable June 16, 2026, to holders of record on May 26, 2026.
The filing also cites risks tied to the proposed merger with Qorvo, Inc., including regulatory approval, integration and expected substantial additional indebtedness, as well as tariffs, export restrictions and customer concentration. Investors should weigh the gap between GAAP and non-GAAP results, which is driven largely by share-based compensation, acquisition-related charges and amortization.
02—Key points
Key Highlights
- Revenue of $944 million for fiscal Q2 2026 (net revenue $943.7 million), versus $953.2 million in the prior-year quarter.
- GAAP diluted EPS of $0.24 versus $0.43 a year earlier; non-GAAP diluted EPS of $1.15 versus $1.24.
- GAAP operating income fell to $42.1 million from $97.3 million; non-GAAP operating income was $188.9 million versus $222.2 million.
- Secured a multi-generational Android OEM design win expected to generate over $1 billion in revenue through 2030.
- Q3 fiscal 2026 guidance: revenue of $900 million to $950 million and non-GAAP diluted EPS of $1.03 at the revenue midpoint.
- Quarterly GAAP operating cash flow of $50.3 million and non-GAAP free cash flow of negative $32.0 million, with capital expenditures of $82.3 million.
- Board declared a $0.71 per share cash dividend payable June 16, 2026, to stockholders of record on May 26, 2026.
03—Questions
Frequently Asked Questions
How did Skyworks perform in the second fiscal quarter of 2026?
Revenue was $944 million, with GAAP diluted EPS of $0.24 and non-GAAP diluted EPS of $1.15. The company said it exceeded the high end of its revenue and non-GAAP EPS guidance, and that Broad Markets grew double digits year over year.
What is the company guiding for the third fiscal quarter of 2026?
Management anticipates revenue of $900 million to $950 million and non-GAAP diluted EPS of $1.03 at the midpoint of the revenue range. Mobile is expected to decline low-single digits sequentially, while Broad Markets is expected to grow modestly sequentially and represent approximately 43% of sales.
Why is there a large gap between GAAP and non-GAAP earnings?
Non-GAAP results exclude share-based compensation ($58.0 million in the quarter), acquisition-related expenses ($34.4 million), amortization of acquisition-related intangibles ($34.3 million), settlements, gains, losses and impairments, restructuring charges and certain tax items. The filing notes that management views these items as non-recurring or not reflective of ongoing operations.
What did the company announce about its dividend?
The board declared a cash dividend of $0.71 per share, payable June 16, 2026, to stockholders of record at the close of business on May 26, 2026. Dividends paid in the quarter totaled $106.8 million.
What risks does the filing highlight regarding the proposed Qorvo transaction?
The filing cites risks including the transaction not being completed on time or at all, regulatory approvals not being obtained or being subject to conditions, integration difficulties, transaction costs and litigation, and substantial additional indebtedness expected to be incurred in connection with the transactions.
04—Continue