Skyworks Solutions reported fiscal third-quarter revenue of $965 million, up 7% year on year and ahead of the $941 million consensus. Adjusted earnings came in at $1.33 a share, beating expectations of roughly $1.28, while GAAP EPS was $0.70. The analog-chip maker generated $224 million in adjusted operating income and $253 million in free cash flow. For the current quarter it projected revenue of $1.00 billion to $1.03 billion and adjusted EPS of about $1.40, both above Wall Street forecasts. The board lifted the quarterly dividend 1% to $0.71 per share. Separately, Spirit AeroSystems posted a wider-than-expected second-quarter loss as revenue fell short of estimates. Sales slid to $1.64 billion versus analysts’ $1.83 billion view, while adjusted EPS was a loss of $3.34 compared with the projected $0.97 loss; GAAP EPS was negative $5.36. The aerostructures supplier recorded an operating loss of $481 million and a net loss of $631 million, though its backlog stood at about $51 billion at quarter-end. Spirit declined to issue guidance, citing its pending merger agreement.
• SPIRIT AEROSYSTEMS Q2 REVENUE $1.64B MISSES $1.83B EST. • ADJ. EPS -$3.34 VS. -$0.97 EST.; GAAP EPS -$5.36 • OPERATING LOSS $481M VS. -$29.8M EST.; NET LOSS $631M • BACKLOG AT END OF Q2 APPROX. $51B • WILL NOT PROVIDE GUIDANCE DUE TO MERGER AGREEMENT $SPR
$SWKS Earnings: - Delivers Revenue of $965 Million - Posts GAAP Diluted EPS of $0.70 and Non-GAAP Diluted EPS of $1.33 - Generates YTD Operating Cash Flow of $1.1 Billion and Free Cash Flow of $962 Million - Increases Quarterly Dividend by 1% to $0.71 Per Share “Skyworks https://t.co/55o9Xso2y9
Skyworks beats by $0.09, beats on revs; guides Q4 EPS above consensus, revs above consensus; raises dividend 1% $swks