$SWKS · SKYWORKS SOLUTIONS, INC.
Skyworks reported Q4 FY2026 standalone results with revenue of $1.046B (-5% YoY) and GAAP diluted EPS of $0.15, heavily impacted by $82.1M in restructuring and impairment charges tied to the Qorvo combination. Non-GAAP diluted EPS was $1.28. The company provided its first combined-company outlook for the December quarter: revenue of $1.80B-$1.90B and non-GAAP EPS of $1.25, with Smartphone revenue expected to decline low-teens sequentially while Diversified Growth Markets grow low single digits.
- Skyworks standalone Q4 revenue of $1.046B, down 5% YoY from $1.100B
- GAAP diluted EPS of $0.15 vs $0.94 YoY, crushed by $82.1M in restructuring/impairment charges
- Non-GAAP diluted EPS of $1.28; full-year FY2026 non-GAAP EPS of $5.05
- Combined Skyworks+Qorvo September-quarter revenue was ~$1.98B (Qorvo had extra week adding ~$70M)
- December-quarter guidance: combined revenue $1.80B-$1.90B, non-GAAP EPS $1.25 on ~241M diluted shares
Extended-hours trading shows minimal reaction at $85.40, flat vs regular close. The market appears to be digesting the complex merger math — standalone GAAP EPS collapsed to $0.15 from $0.94 YoY on $82.1M in restructuring charges, but combined-company guidance of $1.25 non-GAAP EPS and $500M+ synergy target provides the forward narrative.
First earnings report since the Qorvo merger closed — standalone GAAP results were battered by integration costs, but combined guidance and the $500M synergy target set the blueprint for the new Skyworks.
The Skyworks-Qorvo merger creates a full-stack RF front-end player spanning power management to antenna, directly challenging Broadcom and Qualcomm in the premium smartphone RF market. The combined entity targets $500M+ in annual cost synergies within 24-36 months, with ~$150M expected in FY2027.
Restructuring/impairment charges surged to $82.1M in Q4 (vs $1.6M YoY) and $124.2M for FY2026 (vs $24.2M), signaling significant integration costs from the Qorvo combination. Smartphone revenue guided to decline low-teens percent sequentially on Android softness and the extra-week comp. $50M/quarter in incremental interest expense from acquisition financing will be a persistent earnings drag.