Skyworks(US:SWKS)2025-08-05 20:04Financial Performance - Revenue for Q3 Fiscal 2025 was $965 million, representing a 7% year-over-year increase[3] - GAAP diluted earnings per share (EPS) was $0.70, while non-GAAP diluted EPS was $1.33[4] - Year-to-date operating cash flow reached $1.1 billion, with free cash flow of $962 million[4] - The company anticipates Q4 revenue between $1.00 billion and $1.03 billion, with non-GAAP diluted EPS projected at $1.40[7] - Operating income for Q3 was $111 million on a GAAP basis and $224 million on a non-GAAP basis[3] - GAAP net income for Q3 2025 was $105.0 million, down from $120.9 million in Q3 2024, a decrease of 12.3%[19] - Non-GAAP net income for Q3 2025 was $200.4 million, compared to $195.1 million in Q3 2024, showing a 2.7% increase[19] - Non-GAAP diluted earnings per share for Q3 2025 was $1.33, up from $1.21 in Q3 2024, a growth of 9.9%[19] Operating Metrics - Total operating expenses for Q3 were $290.4 million, up from $233.7 million in the same quarter last year[18] - GAAP gross profit for Q3 2025 was $401.0 million, up from $364.1 million in Q3 2024, representing a 10.5% increase[19] - Non-GAAP gross profit for Q3 2025 was $454.2 million, compared to $416.1 million in Q3 2024, reflecting a 9.1% growth[19] - GAAP operating income decreased to $110.6 million in Q3 2025 from $130.4 million in Q3 2024, a decline of 15.0%[19] - Non-GAAP operating income for Q3 2025 was $224.4 million, slightly up from $219.0 million in Q3 2024, indicating a 2.0% increase[19] - GAAP gross margin improved to 41.6% in Q3 2025 from 40.2% in Q3 2024, while non-GAAP gross margin increased to 47.1% from 46.0%[19] Cash Flow and Capital Management - GAAP net cash provided by operating activities for Q3 2025 was $314.1 million, compared to $273.5 million in Q3 2024, an increase of 14.9%[19] - Non-GAAP free cash flow for Q3 2025 was $252.7 million, slightly higher than $249.1 million in Q3 2024, a 1.4% increase[19] - Cash flows from operating activities for the nine months ended June 27, 2025, totaled $1,100.8 million, compared to $1,348.6 million for the same period in 2024, reflecting a decline of approximately 18.4%[33] - Capital expenditures for the three months ended June 27, 2025, were $61.4 million, compared to $24.4 million for the same period in 2024, indicating an increase of approximately 151.6%[33] - The company repurchased $330.2 million of common stock during the three months ended June 27, 2025, compared to $77.3 million in the same period of 2024, an increase of approximately 327.5%[33] Assets and Equity - Total assets decreased from $8,283.3 million as of September 27, 2024, to $7,714.6 million as of June 27, 2025, representing a decline of approximately 6.9%[31] - Stockholders' equity decreased from $6,336.7 million to $5,652.5 million, a decline of approximately 10.8%[31] - Cash and cash equivalents at the end of the period were $1,185.9 million, down from $1,263.4 million at the end of the same period in 2024, a decrease of about 6.1%[33] - Accounts receivable decreased from $508.8 million to $396.2 million, a decline of approximately 22.1%[31] Inventory and Compensation - Inventory decreased from $784.8 million as of September 27, 2024, to $706.5 million as of June 27, 2025, a reduction of about 9.9%[31] - The company reported share-based compensation of $55.2 million for the three months ended June 27, 2025, compared to $42.7 million for the same period in 2024, an increase of approximately 29.0%[33] Business Developments - Mobile segment shows solid order patterns with projected sequential growth of mid-single digits[7] - New automotive programs secured with global OEMs including BYD, Ford, Geely, and Nissan[7] - Introduced the industry's first single-chip ultra-low jitter clocks for AI data center applications[7] - Quarterly dividend increased by 1% to $0.71 per share, payable on September 16, 2025[8]