Qorvo发布2027财年一季度业绩，利润率和EPS同比改善并维持全年EPS高于7美元预期

PDF Version
GREENSBORO, N.C., July 28, 2026 (GLOBE NEWSWIRE) -- Qorvo
®
(Nasdaq:QRVO), a leading global provider of connectivity and power solutions, today announced financial results for the Company’s fiscal 2027 first quarter ended June 27, 2026.
On a GAAP basis, revenue for Qorvo’s fiscal 2027 first quarter was $784.8 million, gross margin was 51.1%, operating income was $96.8 million, and diluted earnings per share was $0.96. On a non-GAAP basis, gross margin was 52.8%, operating income was $177.6 million, and diluted earnings per share was $1.64.
Bob Bruggeworth, president and chief executive officer of Qorvo, said, "The Qorvo team delivered strong June quarterly financial results, supported by double-digit year-over-year revenue growth in D&A, infrastructure, and power, coupled with our successful pivot in ACG to higher value placements. For full-year fiscal 2027, we continue to expect non-GAAP gross margin above 50% and now expect non-GAAP diluted earnings per share above $7.00."
Financial Commentary
Grant Brown, chief financial officer of Qorvo, said, "Qorvo is improving business mix within and across operating segments, reducing capital intensity, and structurally enhancing profitability. Compared to the prior-year June quarter, non-GAAP gross margin expanded 880 basis points to 52.8% and non-GAAP EPS increased 78% to $1.64. We expect continued strong financial performance throughout fiscal 2027."
Given Qorvo's pending transaction with Skyworks, Qorvo has discontinued conducting conference calls and providing forward-looking guidance. Qorvo's fiscal 2027 is a 53-week year, and its fiscal second quarter, ending Saturday, October 3, 2026, will include 14 weeks.
See "Forward-looking non-GAAP financial measures" below. Qorvo's actual results may differ from these expectations and projections, and such differences may be material.
Selected Financial Information
The following tables set forth selected GAAP and non-GAAP financial information for Qorvo for the periods indicated. See the more detailed financial information for Qorvo, including reconciliations of GAAP and non-GAAP financial information, attached.
SELECTED GAAP RESULTS
(In millions, except for percentages and EPS)
(Unaudited)
Q1 Fiscal 2027
Q4 Fiscal 2026
Q1 Fiscal 2026
Sequential Change
Year-over-Year Change
Revenue
$
784.8
$
808.3
$
818.8
$
(23.5
)
$
(34.0
)
Gross profit
$
401.0
$
395.0
$
331.8
$
6.0
$
69.2
Gross margin
51.1
%
48.9
%
40.5
%
2.2 ppt
10.6 ppt
Operating expenses
$
304.2
$
363.5
$
301.7
$
(59.3
)
$
2.5
Operating income
$
96.8
$
31.5
$
30.1
$
65.3
$
66.7
Net income
$
85.8
$
29.7
$
25.6
$
56.1
$
60.2
Weighted-average diluted shares
89.4
92.6
93.8
(3.2
)
(4.4
)
Diluted EPS
$
0.96
$
0.32
$
0.27
$
0.64
$
0.69
SELECTED NON-GAAP RESULTS
(1)
(In millions, except for percentages and EPS)
(Unaudited)
Q1 Fiscal 2027
Q4 Fiscal 2026
Q1 Fiscal 2026
Sequential Change
Year-over-Year Change
Revenue
$
784.8
$
808.3
$
818.8
$
(23.5
)
$
(34.0
)
Gross profit
$
414.3
$
425.2
$
360.0
$
(10.9
)
$
54.3
Gross margin
52.8
%
52.6
%
44.0
%
0.2 ppt
8.8 ppt
Operating expenses
$
236.6
$
235.0
$
251.8
$
1.6
$
(15.2
)
Operating income
$
177.6
$
190.2
$
108.2
$
(12.6
)
$
69.4
Net income
$
146.6
$
156.8
$
86.5
$
(10.2
)
$
60.1
Weighted-average diluted shares
89.4
92.6
93.8
(3.2
)
(4.4
)
Diluted EPS
$
1.64
$
1.69
$
0.92
$
(0.05
)
$
0.72
(1) Adjusted for stock-based compensation expense; amortization of acquired intangible assets; restructuring-related charges and adjustments; merger-related costs; goodwill and intangible asset impairments; settlements, gains, losses and other charges; investment gains and losses; and an adjustment of income taxes.
SELECTED GAAP RESULTS BY OPERATING SEGMENT
(In millions, except percentages)
(Unaudited)
Q1 Fiscal 2027
Q4 Fiscal 2026
Q1 Fiscal 2026
Sequential Change
Year-over-Year Change
Revenue
HPA
$
206.3
$
202.7
$
137.4
1.8
%
50.1
%
CSG
101.9
93.3
110.2
9.2
%
(7.5
)%
ACG
476.6
512.3
571.2
(7.0
)%
(16.6
)%
Total revenue
$
784.8
$
808.3
$
818.8
(2.9
)%
(4.2
)%
Operating income (loss)
HPA
$
70.0
$
70.3
$
21.6
(0.4
)%
224.1
%
CSG
3.0
(6.9
)
(7.5
)
143.5
%
140.0
%
ACG
108.5
130.5
97.9
(16.9
)%
10.8
%
Unallocated amounts
(1)
(84.7
)
(162.4
)
(81.9
)
47.8
%
(3.4
)%
Total operating income
$
96.8
$
31.5
$
30.1
207.3
%
221.6
%
Operating income (loss) as a % of revenue
HPA
33.9
%
34.7
%
15.7
%
(0.8) ppt
18.2 ppt
CSG
2.9
(7.4
)
(6.8
)
10.3 ppt
9.7 ppt
ACG
22.8
25.5
17.1
(2.7) ppt
5.7 ppt
Total operating income as a % of revenue
12.3
%
3.9
%
3.7
%
8.4 ppt
8.6 ppt
(1) Includes stock-based compensation expense; amortization of acquired intangible assets; restructuring-related charges and adjustments; merger-related costs; goodwill and intangible asset impairments; settlements, gains, losses and other charges; and start-up costs.
Non-GAAP Financial Measures
In addition to disclosing financial results calculated in accordance with United States (U.S.) generally accepted accounting principles (GAAP), this earnings release contains some or all of the following non-GAAP financial measures: (i) non-GAAP gross profit and gross margin, (ii) non-GAAP operating expenses, operating income and operating margin, (iii) non-GAAP net income, (iv) non-GAAP net income per diluted share, (v) free cash flow, (vi) EBITDA, (vii) non-GAAP return on invested capital (ROIC), and (viii) net debt or positive net cash. Each of these non-GAAP financial measures is either adjusted from GAAP results to exclude certain expenses or derived from multiple GAAP measures, which are outlined in the “Reconciliation of GAAP to Non-GAAP Financial Measures” tables, attached, and the “Additional Selected Non-GAAP Financial Measures and Reconciliations” tables, attached.
In managing Qorvo's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing gross margin and operating margin. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and other operating expenses. Also, we believe that non-GAAP financial measures provide useful supplemental information to investors and enable investors to analyze the results of operations in the same way as management. We have chosen to provide this supplemental information to enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, and stock-based compensation expense, which may obscure trends in Qorvo's underlying performance.
We believe that these non-GAAP financial measures offer an additional view of Qorvo's operations that, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of Qorvo's results of operations and the factors and trends affecting Qorvo's business. However, these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.
Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of Qorvo's operations, are outlined below:
Non-GAAP gross profit and gross margin.
Non-GAAP gross profit and gross margin exclude amortization of acquired intangible assets, stock-based compensation expense, restructuring-related charges, acquisition and integration-related costs, and certain other charges or income. We believe that exclusion of these costs in presenting non-GAAP gross profit and gross margin facilitates a use