Key Highlights

  • USD 500 million or more of annual cost synergies is the target, to be reached within 24 to 36 months of closing the Qorvo combination.
  • Fiscal fourth quarter Revenue was USD 1.046 billion on a standalone basis, against combined September quarter revenue of about USD 1.98 billion.
  • First fiscal quarter 2027 revenue is guided to USD 1.80 billion to USD 1.90 billion, with non-GAAP diluted EPS of USD 1.25 at the midpoint.
  • Fiscal 2026 revenue was USD 3.96 billion, with GAAP diluted EPS of USD 1.14 and non-GAAP diluted EPS of USD 5.05.

Standalone Results Before the Qorvo Combination

Skyworks Solutions (NASDAQ:SWKS) reported fourth quarter and fiscal 2026 results on November 3, 2026, for the period ended October 2, 2026. Revenue for the quarter was USD 1.046 billion, with GAAP diluted EPS of USD 0.15 and non-GAAP diluted EPS of USD 1.28. For the full year, revenue was USD 3.96 billion, GAAP diluted EPS was USD 1.14 and non-GAAP diluted EPS was USD 5.05. The company makes radio frequency, timing, power management and mixed-signal chips, and the reported numbers do not include Qorvo because the combination closed after the quarter ended.

How the Combined Company Is Being Measured

To give a starting point, management presented combined September quarter revenue of about USD 1.98 billion, the sum of Skyworks at USD 1.046 billion and Qorvo at USD 937 million. Qorvo's fiscal quarter had an extra week worth roughly USD 70 million, which flatters the comparison. From the first fiscal quarter of 2027, the company will report on a fully combined basis in two categories: Smartphone and Diversified Growth Markets. The company also cited a Moody's upgrade to Investment grade at Baa3 and a Fitch outlook revision to Stable, with BBB+ affirmed, after the deal closed.

Synergy Timing, Smartphone Softness and Debt Risks

For the December quarter, management guided revenue of USD 1.80 billion to USD 1.90 billion, which it said is down about 7% sequentially from combined September revenue at the midpoint, or about 3% excluding the extra week. Smartphone revenue is expected to fall in the low teens in rate sequentially because of seasonality, softness in the Android market and the extra week, while Diversified Growth Markets are expected to represent more than 40% of sales. About USD 150 million of Operating Expense synergies are expected within fiscal 2027, weighted to the second half, with an exit run rate of USD 250 million to USD 300 million. The risks listed include reliance on a few key customers, the extra debt taken on for the acquisition, about USD 50 million of quarterly other expense mainly interest, and integration delays.

Where Things Stand

The synergy target matters because the combined company starts with a lower near-term revenue base and Acquisition debt. Skyworks Solutions (NASDAQ:SWKS) says the USD 500 million or more of annual savings should arrive within 24 to 36 months, with only part visible in fiscal 2027. The release does not give the reconciliation between GAAP EPS of USD 0.15 and non-GAAP EPS of USD 1.28 in the extract reviewed here, so the quality of the adjusted figure cannot be judged from it. The first combined quarter, guided at USD 1.25 of non-GAAP EPS at the midpoint, is the next test.