QRVO
Qorvo, Inc.86.57
-1.13-1.29%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Android exit swells on memory crunch
Q&A unpacked the $300M FY27 Android revenue plunge—bigger than prior hints—as memory pricing slashes mass-tier builds, accelerating Qorvo's low-margin exit. Apple FY27 stays flat: ultra-high band share dips, offset by iPad high-band PAD win and ET tailwinds. HPA mix drives gross margins above 50%, despite low utilization but no charges. Seasonality shifts; Android drops sharper than usual in March, June. Management sidesteps future content details but confirms guide visibility. Memory accelerates purge. Watch defense ramp versus Android fade.
Key Stats
Market Cap
8.02BP/E (TTM)
37.48Basic EPS (TTM)
2.31Dividend Yield
0%Recent Filings
8-K
Qorvo approves Skyworks merger
8-K
FTC Second Requests extend wait
8-K
Proxy supplemented amid lawsuits
10-Q
Q3 FY2026 results
Qorvo posted Q3 FY2026 revenue of $993M, up 8% y/y from $916M, with gross margin expanding to 46.7% from 42.7% on premium smartphone focus and HPA strength; operating income soared to $192M from $53M, diluted EPS hit $1.75 from $0.43 on 93.6M shares. ACG drove 69% of sales and $202M income, fueled by flagship content gains, while HPA added 11% y/y revenue on defense demand. Cash swelled to $1.3B, operating cash flow $532M YTD minus $108M capex; $1.5B debt steady at 4.4%/3.4% through 2029/2031, $325M revolver untapped. Proposed Skyworks merger awaits antitrust nods. Deal delays loom large.
8-K
Qorvo Q3 revenue $993M
Qorvo posted Q3 FY2026 revenue of $993M, up 8.4% year-over-year yet down sequentially, with non-GAAP gross margin at 49.1%—260bps improved. All segments grew YoY, fueled by automotive, Wi-Fi, and HPA strength at largest customer. Revenue beat guidance. March quarter eyes ~$800M amid seasonal drop and Android resizing.
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