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For the fiscal third quarter, revenues are expected in the range of $1.050-$1.090 billion.
Non-GAAP earnings are anticipated to be $1.67 per share at the mid-point of this revenue guidance.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $1.07 billion, suggesting a 13.18% decline from the figure reported in the year-ago quarter.
The consensus mark for earnings has been steady at $1.67 per share in the past 30 days, suggesting a 31.56% decline from the figure reported in the year-ago quarter.
Skyworks’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 1.92% on average.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Influenced Q3 Performance
Skyworks’ fiscal third quarter results are expected to reflect sluggish smartphone demand, particularly for Android-based devices. Moreover, the challenging macroeconomic environment globally is expected to have hurt the growth rate.
Further, the slowing deployment of 5G in North America due to sluggish spending is expected to have hurt top-line growth.
Our model estimate for the United States segment is pegged at $780 million, indicating a 4.1% year-over-year decline. Meanwhile, China revenues are pegged at $84.7 million, suggesting a 14.3% year-over-year decline.
Nevertheless, robust uptake of Wi-Fi 6 and 6E solutions is expected to have driven Skyworks’ top line in the fiscal third quarter. Demand has been driven by a growing need for high-speed connectivity amid the pandemic-induced surge in hybrid work environments, video-streaming and web-based learning trends.
Skyworks is expected to have benefited from the rapid expansion of mobile network traffic, advances in cloud and edge computing, IoT and the electrification of vehicles.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Skyworks has an Earnings ESP of 0.00% and carries a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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Skyworks (SWKS) to Report Q3 Earnings: What's in the Cards?
Skyworks Solutions (SWKS - Free Report) is slated to release its third-quarter fiscal 2023 results on Aug 7.
For the fiscal third quarter, revenues are expected in the range of $1.050-$1.090 billion.
Non-GAAP earnings are anticipated to be $1.67 per share at the mid-point of this revenue guidance.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $1.07 billion, suggesting a 13.18% decline from the figure reported in the year-ago quarter.
The consensus mark for earnings has been steady at $1.67 per share in the past 30 days, suggesting a 31.56% decline from the figure reported in the year-ago quarter.
Skyworks Solutions, Inc. Price and EPS Surprise
Skyworks Solutions, Inc. price-eps-surprise | Skyworks Solutions, Inc. Quote
Skyworks’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 1.92% on average.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Influenced Q3 Performance
Skyworks’ fiscal third quarter results are expected to reflect sluggish smartphone demand, particularly for Android-based devices. Moreover, the challenging macroeconomic environment globally is expected to have hurt the growth rate.
Further, the slowing deployment of 5G in North America due to sluggish spending is expected to have hurt top-line growth.
Our model estimate for the United States segment is pegged at $780 million, indicating a 4.1% year-over-year decline. Meanwhile, China revenues are pegged at $84.7 million, suggesting a 14.3% year-over-year decline.
Nevertheless, robust uptake of Wi-Fi 6 and 6E solutions is expected to have driven Skyworks’ top line in the fiscal third quarter. Demand has been driven by a growing need for high-speed connectivity amid the pandemic-induced surge in hybrid work environments, video-streaming and web-based learning trends.
Skyworks is expected to have benefited from the rapid expansion of mobile network traffic, advances in cloud and edge computing, IoT and the electrification of vehicles.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Skyworks has an Earnings ESP of 0.00% and carries a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Super Micro Computer (SMCI - Free Report) has an Earnings ESP of +15.84% and a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Super Micro shares have surged 289.3% year to date. SMCI is set to report its fourth-quarter fiscal 2023 results on Aug 8.
BILL Holdings (BILL - Free Report) has an Earnings ESP of +4.35% and a Zacks Rank #2.
BILL Holdings shares have gained 7.8% in the year-to-date period. BILL is set to report its fourth-quarter fiscal 2023 results on Aug 17.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and a Zacks Rank #2.
CACI International shares have gained 18% year to date. CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.