Skyworks Reports Q4 FY2026 Results & Outlines Post-Qorvo Combination Outlook

Skyworks Solutions (NASDAQ: SWKS) Q4 FY2026 Earnings & Qorvo Combination Analysis

1. Strategic Combination with Qorvo

Skyworks reported its fourth fiscal quarter and full-year 2026 financial results, coinciding with the completion of its strategic business combination with Qorvo. Key elements of the combined business include:

• Scale & Product Breadth: Formation of a full-stack RF front-end platform targeting next-generation smartphone architectures (5G-Advanced and 6G).
• Secular Growth Diversification: Portfolio expansion across Physical AI, Connected Edge, Aerospace & Defense, Data Center Infrastructure, and Automotive platforms.
• Cost Synergy Commitments: Management reaffirmed expectations of at least $500 million in annual cost synergies within 24 to 36 months post-close, with an estimated $150 million realized in operating expenses in FY2027 ($250M–$300M exit run-rate).

2. Standalone Q4 and Fiscal 2026 Results

Because the Qorvo transaction closed after the end of the fiscal fourth quarter (ended October 2, 2026), reported figures reflect standalone Skyworks performance:

• Q4 FY2026 Net Revenue: $1,045.7 million, down from $1,100.2 million in Q4 FY2025.
• Q4 FY2026 Operating Income: $22.3 million (GAAP), impacted by $82.1 million in restructuring, impairment, and other charges.
• Q4 FY2026 Diluted EPS: GAAP EPS of $0.15; non-GAAP EPS of $1.28.
• Full-Year FY2026 Revenue: $3,959.6 million versus $4,086.9 million in FY2025.
• Full-Year FY2026 Diluted EPS: GAAP EPS of $1.14; non-GAAP EPS of $5.05.

3. Pro Forma Combined Baseline & Q1 FY2027 Outlook

• Combined September-Quarter Baseline: Standalone Skyworks revenue ($1,046M) plus Qorvo revenue ($937M, which included a 14th week worth ~$70M) yielded a pro forma combined revenue of $1,983 million.
• Q1 FY2027 Outlook:
  • Combined revenue projected between $1.80 billion and $1.90 billion (Legacy Skyworks: ~$1.07B; Legacy Qorvo: ~$780M at midpoint).
  • Sequential trend: Down approximately 7% sequentially from combined September levels (or -3% excluding Qorvo's extra week).
  • Non-GAAP EPS projected at approximately $1.25 based on ~241 million diluted shares and ~$50 million of other expense (primarily acquisition financing interest).
  • Smartphone revenue expected to decline in the low-teens sequentially due to seasonality and selective premium-tier Android exposure, while Diversified Growth Markets is expected to expand low single digits sequentially.