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Jun 26, 2020
Skyworks Q3 2020 Earnings Report
Skyworks delivered revenue above expectations, driven by Sky5® platform gains and 5G adoption.
Key Takeaways
Skyworks reported Q3 FY20 results with revenue of $736.8 million, exceeding consensus estimates. GAAP diluted EPS was $0.77, and non-GAAP diluted EPS was $1.25. The company guides to double-digit sequential revenue and earnings growth in Q4 FY20 and increased the quarterly dividend by 14 percent to $0.50 per share.
Revenue for the third fiscal quarter was $736.8 million, exceeding consensus estimates.
On a GAAP basis, operating income for the third fiscal quarter of 2020 was $147.5 million with diluted earnings per share of $0.77.
On a non-GAAP basis, operating income was $230.3 million with non-GAAP diluted earnings per share of $1.25.
The company anticipates revenue to be between $830 million and $850 million with non-GAAP diluted earnings per share of $1.51 at the midpoint of our revenue range for Q4 2020.
Forward Guidance
For the fourth fiscal quarter of 2020, Skyworks anticipates revenue to be between $830 million and $850 million with non-GAAP diluted earnings per share of $1.51 at the midpoint of the revenue range.
Positive Outlook
- Strong demand for market-leading solutions
- Double-digit sequential revenue growth expected
- Double-digit sequential earnings per share growth expected
- Confidence in Skyworks’ strategic outlook
- Strong cash flow generation
Challenges Ahead
- Guidance is based on current expectations of customer demand
- Guidance is based on continued ability to manufacture and ship products
- Customer demand could be impacted by the COVID-19 pandemic
- Ability to manufacture and ship products could be impacted by the COVID-19 pandemic
Historical Earnings Impact
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Avg. Return Before/After Earnings
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