Why did Skyworks stop paying dividends and what will the capital go toward?

The board decided not to declare any quarterly cash dividends going forward. The filing says the company is redirecting that capital toward share repurchases, de-leveraging the balance sheet, and opportunistic, accretive M&A under a new capital allocation framework for the combined company with Qorvo.

How large is the new buyback and when does it expire?

The board authorized repurchases of up to $2.0 billion of common stock from time to time through January 31, 2029, on the open market or in privately negotiated transactions. The timing and amount are at management's discretion, the program may be suspended or discontinued at any time, and the company expects to fund it with working capital.

What is the outlook for the fourth fiscal quarter?

Skyworks guided fourth-quarter fiscal 2026 revenue to $1,010 million to $1,060 million and non-GAAP diluted EPS of $1.27 at the revenue midpoint. Management expects Mobile to grow sequentially in the high-teens range and Broad Markets to grow approximately 5% year-over-year, representing approximately 39% of sales.

What is the status of the Qorvo combination and how will it be financed?

Management said regulatory approvals are progressing and it is now optimistic the transaction can close within the calendar year, with preparations to close as early as within the fiscal year. The company anticipates raising approximately $2 billion of acquisition debt financing, and the guidance includes a partial quarter of related financing costs.

How did GAAP profitability compare with the prior-year quarter?

Third-quarter GAAP operating income was $48.5 million versus $110.6 million a year earlier, and GAAP net income was $33.9 million versus $105.0 million. The filing attributes part of the decline to higher research and development expense of $207.8 million versus $199.4 million and restructuring, impairment, and other charges of $19.8 million versus $1.5 million.

SWKS 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed July 28, 2026. Cited figures are marked; the original filing is the authoritative source.

Skyworks Solutions, Inc. reported third fiscal quarter 2026 results for the three- and nine-month periods ended July 3, 2026, with revenue of $935 million^a (net revenue of $934.8 million), GAAP operating income of $48.5 million, and GAAP diluted EPS of $0.22.

On a non-GAAP basis, operating income was $181.6 million^b and diluted EPS was $1.08. For the nine months, net revenue was $2,913.9 million and GAAP diluted EPS was $0.99. Management guided fourth-quarter fiscal 2026 revenue to $1,010 million to $1,060 million, with non-GAAP diluted EPS of $1.27 at the midpoint of the revenue range, and said Mobile is expected to grow sequentially in the high-teens range while Broad Markets is expected to grow approximately 5% year-over-year.

The company also announced a series of capital allocation actions tied to its pending combination with Qorvo, Inc. Its board decided not to declare any quarterly cash dividends going forward, and authorized a new stock repurchase program of up to $2.0 billion^c through January 31, 2029, which terminated the prior $2.0 billion program approved on February 4, 2025. Management said it expects to fund repurchases with working capital and anticipates raising approximately $2 billion of acquisition debt financing. The CEO stated that the company is now optimistic it can close the Qorvo transaction within the calendar year.

Financially, the balance sheet showed cash, cash equivalents, and marketable securities of $813.8 million^d and debt of $496.9 million as of July 3, 2026, compared with $1,388.4 million and $995.8 million as of October 3, 2025. Nine-month net cash provided by operating activities was $516.2 million, and non-GAAP free cash flow was $290.2 million. The filing notes that GAAP results include restructuring, impairment, and other charges of $19.8 million in the quarter and $42.2 million for the nine months.

02—Key points

Key Highlights

Third-quarter fiscal 2026 revenue of $935 million; GAAP diluted EPS of $0.22 versus $0.70 in the prior-year quarter, and non-GAAP diluted EPS of $1.08 versus $1.33.
Fourth-quarter fiscal 2026 guidance of $1,010 million to $1,060 million in revenue and non-GAAP diluted EPS of $1.27 at the revenue midpoint, including approximately $0.03 per share of incremental net interest expense tied to the pending Qorvo acquisition.
Board decided not to declare any quarterly cash dividends going forward; the nine-month dividends paid were $320.1 million.
New stock repurchase program of up to $2.0 billion through January 31, 2029, succeeding and terminating the $2.0 billion program approved February 4, 2025.
Company anticipates raising approximately $2 billion of acquisition debt financing and now expects the Qorvo combination to close within the calendar year.
Non-GAAP free cash flow was $(16.7) million in the quarter versus $252.7 million a year earlier, with capital expenditures of $87.1 million in the quarter.
Debt declined to $496.9 million from $995.8 million at fiscal year-end 2025 following $500.0 million of debt payments in the quarter.

03—Questions

Frequently Asked Questions

Why did Skyworks stop paying dividends and what will the capital go toward?
The board decided not to declare any quarterly cash dividends going forward. The filing says the company is redirecting that capital toward share repurchases, de-leveraging the balance sheet, and opportunistic, accretive M&A under a new capital allocation framework for the combined company with Qorvo.
How large is the new buyback and when does it expire?
The board authorized repurchases of up to $2.0 billion of common stock from time to time through January 31, 2029, on the open market or in privately negotiated transactions. The timing and amount are at management's discretion, the program may be suspended or discontinued at any time, and the company expects to fund it with working capital.
What is the outlook for the fourth fiscal quarter?
Skyworks guided fourth-quarter fiscal 2026 revenue to $1,010 million to $1,060 million and non-GAAP diluted EPS of $1.27 at the revenue midpoint. Management expects Mobile to grow sequentially in the high-teens range and Broad Markets to grow approximately 5% year-over-year, representing approximately 39% of sales.
What is the status of the Qorvo combination and how will it be financed?
Management said regulatory approvals are progressing and it is now optimistic the transaction can close within the calendar year, with preparations to close as early as within the fiscal year. The company anticipates raising approximately $2 billion of acquisition debt financing, and the guidance includes a partial quarter of related financing costs.
How did GAAP profitability compare with the prior-year quarter?
Third-quarter GAAP operating income was $48.5 million versus $110.6 million a year earlier, and GAAP net income was $33.9 million versus $105.0 million. The filing attributes part of the decline to higher research and development expense of $207.8 million versus $199.4 million and restructuring, impairment, and other charges of $19.8 million versus $1.5 million.

04—Continue

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