Qorvo reported results for its fiscal 2027 first quarter ended June 27, 2026, with revenue of $784.8 million and GAAP diluted EPS of $0.96. Non‑GAAP diluted EPS was $1.64 and non‑GAAP gross margin was 52.8%. Management reiterated expectations for full‑year non‑GAAP gross margin above 50% and now expects non‑GAAP diluted EPS above $7.00.

Financial Highlights

  • Revenue: $784.8 million for Q1 fiscal 2027.
  • GAAP gross profit: $401.0 million; GAAP gross margin: 51.1%.
  • GAAP operating income: $96.8 million; GAAP net income: $85.8 million; GAAP diluted EPS: $0.96.
  • Non‑GAAP gross profit: $414.3 million; non‑GAAP gross margin: 52.8%; non‑GAAP operating income: $177.6 million.
  • Non‑GAAP net income: $146.6 million; non‑GAAP diluted EPS: $1.64. Free cash flow: $115.3 million for the quarter.

Business Highlights

  • Segment performance: ACG remained the largest revenue contributor at $476.6 million, down 7.0% sequentially; HPA revenue grew to $206.3 million; CSG revenue increased sequentially to $101.9 million.
  • Management cited double‑digit year‑over‑year revenue growth in defense & aerospace (D&A), infrastructure, and power end markets, and a pivot in ACG to higher‑value placements.
  • Qorvo noted ongoing improvements in business mix across operating segments and reduced capital intensity aimed at structurally enhancing profitability.
  • Given the pending transaction with Skyworks, Qorvo has discontinued conducting conference calls and providing forward‑looking GAAP guidance; fiscal 2027 is a 53‑week year with Q2 covering 14 weeks.

Original SEC Filing:

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