Skyworks Solutions (SWKS) Tops Q2 EPS by 1c, Q3 Guidance Misses Consensus

Skyworks Solutions (NASDAQ: SWKS) reported Q2 EPS of $1.34, $0.01 better than the analyst estimate of $1.33. Revenue for the quarter came in at $766.1 million versus the consensus estimate of $757.78 million.

GUIDANCE:

Skyworks Solutions sees Q3 2020 EPS of $1.13 at mid-point, versus the consensus of $1.25. Skyworks Solutions sees Q3 2020 revenue of $670-710 million, versus the consensus of $727.24 million.

• “Given the supply chain and demand disruptions associated with COVID-19, visibility is limited for the June quarter, resulting in a wider revenue range compared to prior quarters,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the third fiscal quarter of 2020, we anticipate revenue to be between $670 and $710 million with non-GAAP diluted earnings per share of $1.13 at the midpoint of our revenue range.” This guidance is based on our current expectations of customer demand and our continued ability to manufacture and ship products, each of which could be impacted by COVID-19, as discussed further below.

For earnings history and earnings-related data on Skyworks Solutions (SWKS) click here.

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