Core Insights - Qorvo, Inc. (NASDAQ: QRVO) is recognized as a mid-cap semiconductor company specializing in RF and power technology solutions, but it has not provided fruitful returns for investors over the past year [1] Company Overview - Qorvo is noted for its expertise in radio frequency and power technology solutions, positioning itself as a significant player in the semiconductor industry [1]

Financial Performance - Qorvo reported third-quarter earnings of $1.61 per share, exceeding the analyst consensus estimate of $1.20 [1] - Quarterly revenue reached $916.3 million, surpassing the analyst consensus estimate of $901.51 million [1] Strategic Initiatives - The company is executing a broad set of strategic initiatives aimed at expanding margins, generating strong free cash flow, and increasing shareholder value [2] - Qorvo continued to support its largest customer, which accounted for approximately 50% of sales during the December quarter [2] Future Guidance - For the fourth quarter, Qorvo projects revenue between $825 million and $875 million, compared to the $841.2 million estimate [3] - Adjusted earnings are expected to be between 90 cents and $1.10 per share, exceeding the 86-cent estimate [3] Analyst Ratings and Price Targets - Citigroup analyst Atif Malik maintained a Sell rating and lowered the price target from $72 to $69 [4] - Stifel analyst Ruben Roy maintained a Hold rating and reduced the price target from $95 to $90 [4] - Needham analyst Quinn Bolton reiterated a Buy rating with a maintained price target of $100 [4]

Core Insights - Qorvo, Inc. reported strong third-quarter fiscal 2025 results, with adjusted earnings and revenues exceeding Zacks Consensus Estimates [1] Financial Performance - The company reported a net income of $41.3 million or 43 cents per share, a significant recovery from a net loss of $126.9 million or $1.31 per share in the prior-year quarter [3] - Non-GAAP net income was $152.8 million or $1.61 per share, down from $205.9 million or $2.10 per share year-over-year due to soft revenues, but still surpassed Zacks Consensus Estimates by 41 cents [3] - Revenues declined to $916.3 million from $1.07 billion in the prior-year quarter, impacted by macroeconomic headwinds and demand recovery challenges [4] Segment Performance - The Advanced Cellular Group (ACG) reported net sales of $635.1 million, down 24.9% year-over-year, but exceeded the Zacks Consensus Estimate of $611.2 million [8] - High-Performance Analog (HPA) revenues increased to $171.7 million from $118.9 million year-over-year, surpassing the Zacks Consensus Estimate of $168.1 million [5] - Connectivity Solutions Group (CSG) revenues were $109.5 million, slightly up from $108.9 million year-over-year, but fell short of the Zacks Consensus Estimate of $121.1 million [7] Operational Metrics - Non-GAAP gross profit decreased to $426.3 million from $470.5 million year-over-year, with margins of 46.5% and 43.8% respectively [9] - Non-GAAP operating expenses rose to $248.4 million from $234 million a year ago due to increased investments in new product development [9] Cash Flow and Liquidity - As of December 28, 2024, Qorvo had $769.43 million in cash and cash equivalents and $1.55 billion in long-term debt [11] - The company generated $214.1 million in net cash from operating activities, with a free cash flow of $176.3 million [11] - Qorvo repurchased $100 million worth of shares at an average price of $73 per share during the quarter [11] Future Outlook - For the fourth quarter of fiscal 2025, Qorvo expects revenues of approximately $850 million (+/- $25 million) and non-GAAP gross margin between 43% and 44% [12] - Non-GAAP earnings per share are projected to be in the range of 90 cents to $1.10, with operating expenses expected to be around $250 million [12] - For fiscal 2025, management anticipates revenues to be slightly down compared to fiscal 2024, primarily due to challenges in the smartphone business [13]

Qorvo posted a solid earnings beat for Q3 Fiscal 2025, although year-over-year performance reflected ongoing challenges.Qorvo (QRVO -5.85%), a prominent player in radio frequency (RF) solutions, released its Q3 Fiscal 2025 earnings on January 28, 2025, showcasing admirable performance despite market obstacles. It reported a Non-GAAP earnings per share (EPS) of $1.61, surpassing the $1.21 analyst forecast, exceeding expectations by $0.40 or 33.1%. Revenue also beat estimates, coming in at $916.3 million comp ...

For the quarter ended December 2024, Qorvo (QRVO) reported revenue of $916.32 million, down 14.7% over the same period last year. EPS came in at $1.61, compared to $2.10 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $901.32 million, representing a surprise of +1.66%. The company delivered an EPS surprise of +34.17%, with the consensus EPS estimate being $1.20.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Qorvo (QRVO) came out with quarterly earnings of $1.61 per share, beating the Zacks Consensus Estimate of $1.20 per share. This compares to earnings of $2.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 34.17%. A quarter ago, it was expected that this chipmaker would post earnings of $1.85 per share when it actually produced earnings of $1.88, delivering a surprise of 1.62%.Over the last four quarters, the company has surpa ...

Financial Performance - Qorvo's fiscal 2025 Q3 revenue was $916.3 million, a decrease of 12.4% sequentially and 14.7% year-over-year[7]. - Non-GAAP gross margin for Q3 was 46.5%, compared to 47.0% in Q2 and 43.8% in Q3 of the previous year[9]. - Operating income for Q3 was $53.0 million, a significant increase of 446.4% sequentially and 227.4% year-over-year[11]. - The company expects Q4 revenue to be approximately $850 million, with a non-GAAP gross margin between 43% and 44%[4]. - Qorvo reported revenue of $916.3 million for the three months ended December 28, 2024, a decrease from $1,073.9 million for the same period last year, representing a decline of approximately 14.6%[37]. - The company achieved an operating income of $53.0 million for the three months ended December 28, 2024, compared to an operating loss of $41.6 million in the same period last year[37]. - Net income for the three months ended December 28, 2024, was $41.3 million, a significant improvement from a net loss of $126.9 million in the prior year[37]. - Basic net income per share was $0.44 for the three months ended December 28, 2024, compared to a loss of $1.31 per share in the same period last year[37]. - Non-GAAP diluted earnings per share for Q3 was $1.61, down from $2.10 in Q3 of the previous year[9]. - GAAP net income for Q3 2024 was $41,271,000, compared to a loss of $126,938,000 in Q3 2023[38]. Cost Management - Operating expenses decreased to $338.4 million in Q3, down from $435.6 million in Q2 and $429.4 million in Q3 of the previous year[7]. - Total costs and expenses decreased to $863.3 million for the three months ended December 28, 2024, down from $1,115.4 million in the same period last year, a reduction of about 22.6%[37]. - Research and development expenses increased to $179.1 million for the three months ended December 28, 2024, up from $164.3 million in the prior year, reflecting a growth of approximately 9.5%[37]. - Research and development expenses on a GAAP basis were $179,126,000 in Q3 2024, up from $164,329,000 in Q3 2023[42]. Customer and Market Insights - Qorvo's largest customer accounted for approximately 50% of sales during the December quarter[2]. - The HPA segment achieved record Defense & Aerospace quarterly revenue, with a 44.4% year-over-year increase[11]. - Qorvo anticipates double-digit growth in HPA and CSG segments for fiscal 2025 and the following fiscal year[2]. Cash Flow and Financial Health - Free cash flow for Q3 2024 was $176.3 million, reflecting net cash provided by operating activities of $214.1 million after $37.8 million in capital expenditures[40]. - Free cash flow is defined as net cash provided by operating activities minus property and equipment expenditures, which is used as an indicator of liquidity and financial strength[23]. - The company emphasizes the importance of free cash flow as a supplemental financial measure to assess its ability to service debt and make strategic investments[23]. - Current liabilities decreased to $807,861,000 from $1,230,087,000 in March 2024, indicating improved liquidity[44]. Future Outlook - Qorvo's forward-looking statements indicate expectations for future performance, but actual results may differ due to various risks and uncertainties[34]. - The company divested its silicon carbide business, which is expected to support a high-40% gross margin in strong quarters of fiscal 2026[3]. Operational Efficiency - Non-GAAP operating income margin for Q3 2024 was 19.4%, reflecting operational efficiency improvements[40]. - Non-GAAP gross profit margin improved to 46.5% in Q3 2024, compared to 43.8% in Q3 2023[40]. - Goodwill impairment charges were eliminated in Q3 2024, compared to $173,414,000 in Q3 2023[38].

GREENSBORO, N.C., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq:QRVO), a leading global provider of connectivity and power solutions, today announced financial results for the Company’s fiscal 2025 third quarter ended December 28, 2024. On a GAAP basis, revenue for Qorvo’s fiscal 2025 third quarter was $916.3 million, gross margin was 42.7%, operating income was $53.0 million, and diluted earnings per share was $0.43. On a non-GAAP basis, gross margin was 46.5%, operating income was $177.9 million, and d ...

Business: Qorvo is a global supplier of semiconductor solutions. The company operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG) and Advanced Cellular Group (ACG). The HPA segment is a global supplier of radio frequency (RF), analog mixed signal and power management solutions. The CSG segment is a global supplier of connectivity and sensor solutions. The ACG segment is a global supplier of cellular RF solutions for smartphones, wearables, laptops, tablets and ...

Qorvo, Inc. (QRVO) is set to report third-quarter fiscal 2025 results on Jan. 28, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 1.62%. It pulled off a trailing four-quarter earnings surprise of 16.58% on average.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The leading provider of radio frequency solutions is expected to witness revenue decline year over year in the impending quarter owing to weakness in the Advance Cellular Gr ...