Key Highlights

  • The company is aiming for USD 500 million or more of annual cost synergies from the Qorvo combination, to be achieved within 24 to 36 months after closing.
  • Standalone fiscal fourth-quarter Revenue was USD 1.046 billion, compared with a combined September quarter revenue of about USD 1.98 billion.
  • Fiscal first-quarter 2027 revenue is projected at USD 1.80 billion to USD 1.90 billion, and non-GAAP diluted EPS sits at USD 1.25 for the midpoint.
  • For fiscal 2026, sales totaled USD 3.96 billion, producing GAAP diluted EPS of USD 1.14 and a non-GAAP figure of USD 5.05.

Standalone Fiscal 2026 Figures Precede the Qorvo Close

Skyworks Solutions (NASDAQ:SWKS) reported fourth-quarter and fiscal 2026 results on November 3, 2026, for the period ended October 2, 2026. The quarter brought in USD 1.046 billion of revenue, GAAP diluted EPS of USD 0.15, and non-GAAP diluted EPS of USD 1.28. Across the year, revenue totaled USD 3.96 billion, with GAAP diluted EPS at USD 1.14 and non-GAAP diluted EPS at USD 5.05. The company produces radio frequency, timing, power management and mixed-signal chips. These reported numbers exclude Qorvo, because the combination closed after the quarter ended.

Measuring the Combined Company Against a Pro Forma Baseline

For a reference point, management presented combined September quarter revenue of about USD 1.98 billion, which adds Skyworks' USD 1.046 billion to Qorvo's USD 937 million. Qorvo's fiscal quarter contained an extra week worth roughly USD 70 million, which flatters the comparison. Beginning with fiscal first quarter 2027, the company will report on a fully combined basis across two categories, Smartphone and Diversified Growth Markets. After the deal closed, Moody's upgraded the company to Investment grade at Baa3, and Fitch revised its outlook to Stable while affirming BBB+.

Synergy Timing, Smartphone Softness and Acquisition Debt

Management's December-quarter revenue view of USD 1.80 billion to USD 1.90 billion implies a sequential decline near 7% from combined September sales at the midpoint, or roughly 3% without the extra week. Smartphone revenue is expected to fall in the low teens sequentially because of seasonality, softer Android Demand and the extra week, while Diversified Growth Markets should exceed 40% of sales. About USD 150 million of Operating Expense synergies are expected within fiscal 2027, weighted toward the second half, with an exit run rate of USD 250 million to USD 300 million. Risks include reliance on a few major customers, the extra Debt from the acquisition, roughly USD 50 million of quarterly other expense mainly interest, and integration delays.

Where Things Stand

The synergy target matters because the combined company begins with a lower near-term revenue base and acquisition debt. Skyworks Solutions (NASDAQ:SWKS) expects its USD 500 million-plus annual savings to build over 24 to 36 months, with just a slice showing up in fiscal 2027. The release extract does not reconcile GAAP EPS of USD 0.15 with non-GAAP EPS of USD 1.28, so the quality of the adjusted figure cannot be judged. The first combined quarter, guided to USD 1.25 of non-GAAP EPS at the midpoint, is the next test. Investors will also watch how the Smartphone and Diversified Growth Markets categories perform once reporting is fully combined. Until then, the reported figures serve as the baseline.