Skyworks Solutions (SWKS) Tops Q3 EPS by 4c, Revenues Beat; Offers Q4 EPS/Revenue Outlook Above Consensus

Skyworks Solutions (NASDAQ: SWKS) reported Q3 EPS of $1.64, $0.04 better than the analyst estimate of $1.60. Revenue for the quarter came in at $894.3 million versus the consensus estimate of $889.05 million.

• Delivers Revenue of $894.3 Million
• GAAP Operating Margin 34.3%; Non-GAAP Operating Margin 36.3%
• Record Q3 Diluted EPS: GAAP $1.57; Non-GAAP $1.64
• Returns $298.0 Million to Shareholders via Share Buybacks and Dividends
• Guides Q4 FY18 Revenue up 11 to 13% and Non-GAAP Diluted EPS up 16% Sequentially
• Increases Quarterly Dividend by 19% to $0.38 Per Share

Fourth Fiscal Quarter 2018 Outlook

We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.

“Skyworks is on track to deliver another record year of top and bottom line results,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, for the fourth fiscal quarter of 2018, we expect revenue to be up 11 to 13 percent sequentially as design win momentum transitions to volume production. At the $1 billion midpoint of this revenue range, we anticipate continued margin expansion and 16 percent sequential growth in non-GAAP diluted earnings per share to $1.91. Further, given our confidence in Skyworks’ strategic outlook, today we are announcing a substantial raise to our quarterly dividend.”

GUIDANCE:

Skyworks Solutions sees Q4 2018 EPS of $1.91, versus the consensus of $1.87. Skyworks Solutions sees Q4 2018 revenue of $1 million, versus the consensus of $996.13 million.

For earnings history and earnings-related data on Skyworks Solutions (SWKS) click here.

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