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Qorvo reported Q4 fiscal 2026 earnings and revenues that beat estimates despite lower sales.
QRVO offset weak smartphone demand with improved margins, cost control and product mix gains.
QRVO saw higher non-GAAP profit and operating cash flow, with a stronger segment mix aiding results.
Qorvo, Inc. (QRVO - Free Report) reported relatively healthy fourth-quarter fiscal 2026 results, with both top and bottom lines beating the Zacks Consensus Estimate.
During the quarter, the company’s weak smartphone demand continued to pressure revenues. However, the company managed to improve profitability through better cost control and a stronger product mix.
Net Income
On a GAAP basis, the company reported a net income of $29.7 million or 32 cents per share compared with $31.4 million or 33 cents per share in the prior-year quarter, primarily due to lower net sales and higher operating expenses.
Non-GAAP net income was $156.8 million or $1.69 per share compared with $133.3 million or $1.42 per share in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate by 48 cents.
For 2026, Qorvo reported GAAP net income of $339 million or $3.62 per share compared with $55.6 million or 58 cents per share in 2025.
Net sales during the quarter declined to $808.3 million from $869.5 million in the prior-year quarter. The top line beat the Zacks Consensus Estimate of $799.7 million. For 2026, revenues decreased to $3.68 billion from $3.72 billion in 2025.
Segmental Performance
The High-Performance Analog segment contributed $202.7 million in revenues compared with $187.9 million in the year-ago quarter, mainly driven by demand for 5G network equipment, defense and aerospace systems, Wi-Fi devices and industrial electronics.
Revenues from the Connectivity and Sensors Group segment were $93.3 million compared with $101.3 million in the year-earlier quarter. Net sales in the Advanced Cellular Group segment were $512.3 million, down 11.7% year over year.
Other Details
Non-GAAP gross profit was $425.2 million compared with $398.7 million in the year-ago quarter, with respective margins of 52.6% and 45.9%. Non-GAAP operating expenses decreased to $235 million from $246.8 million a year ago. Non-GAAP operating income was $190.2 million compared with $151.8 million in the year-ago quarter.
Cash Flow & Liquidity
As of March 28, 2026, QRVO had $1.22 billion in cash and cash equivalents and $1.55 billion of long-term debt compared with respective tallies of $1.02 billion and $1.55 billion a year ago.
The company generated $276.3 million in cash from operations compared with $199.2 million in the year-earlier quarter. For 2026, the company generated $808.6 million of cash from operating activities compared with $622.2 million in 2025.
HubSpot, Inc. (HUBS - Free Report) is scheduled to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $2.47 per share, suggesting growth of 38.76% from the year-ago reported figure.
HubSpot has a long-term earnings growth expectation of 20%. The company delivered an average earnings surprise of 3.01% in the last four reported quarters.
Workday, Inc. (WDAY - Free Report) is set to release first-quarter fiscal 2027 earnings on May 21. The Zacks Consensus Estimate for earnings is pegged at $2.49 per share, implying growth of 11.7% from the year-ago reported figure.
Workday has a long-term earnings growth expectation of 20.16%. The company delivered an average earnings surprise of 8.53% in the last four reported quarters.
Motorola Solutions, Inc. (MSI - Free Report) is set to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $3.25 per share, implying growth of 2.2% from the year-ago reported figure.
Motorola has a long-term earnings growth expectation of 9.4%. The company delivered an average earnings surprise of 5.66% in the last four reported quarters.
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Qorvo Q4 Earnings Surpass Estimates Despite Lower Revenue Growth
Key Takeaways
Qorvo, Inc. (QRVO - Free Report) reported relatively healthy fourth-quarter fiscal 2026 results, with both top and bottom lines beating the Zacks Consensus Estimate.
During the quarter, the company’s weak smartphone demand continued to pressure revenues. However, the company managed to improve profitability through better cost control and a stronger product mix.
Net Income
On a GAAP basis, the company reported a net income of $29.7 million or 32 cents per share compared with $31.4 million or 33 cents per share in the prior-year quarter, primarily due to lower net sales and higher operating expenses.
Non-GAAP net income was $156.8 million or $1.69 per share compared with $133.3 million or $1.42 per share in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate by 48 cents.
For 2026, Qorvo reported GAAP net income of $339 million or $3.62 per share compared with $55.6 million or 58 cents per share in 2025.
Qorvo, Inc. Price, Consensus and EPS Surprise
Qorvo, Inc. price-consensus-eps-surprise-chart | Qorvo, Inc. Quote
Revenues
Net sales during the quarter declined to $808.3 million from $869.5 million in the prior-year quarter. The top line beat the Zacks Consensus Estimate of $799.7 million. For 2026, revenues decreased to $3.68 billion from $3.72 billion in 2025.
Segmental Performance
The High-Performance Analog segment contributed $202.7 million in revenues compared with $187.9 million in the year-ago quarter, mainly driven by demand for 5G network equipment, defense and aerospace systems, Wi-Fi devices and industrial electronics.
Revenues from the Connectivity and Sensors Group segment were $93.3 million compared with $101.3 million in the year-earlier quarter. Net sales in the Advanced Cellular Group segment were $512.3 million, down 11.7% year over year.
Other Details
Non-GAAP gross profit was $425.2 million compared with $398.7 million in the year-ago quarter, with respective margins of 52.6% and 45.9%. Non-GAAP operating expenses decreased to $235 million from $246.8 million a year ago. Non-GAAP operating income was $190.2 million compared with $151.8 million in the year-ago quarter.
Cash Flow & Liquidity
As of March 28, 2026, QRVO had $1.22 billion in cash and cash equivalents and $1.55 billion of long-term debt compared with respective tallies of $1.02 billion and $1.55 billion a year ago.
The company generated $276.3 million in cash from operations compared with $199.2 million in the year-earlier quarter. For 2026, the company generated $808.6 million of cash from operating activities compared with $622.2 million in 2025.
Zacks Rank
Qorvo currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
HubSpot, Inc. (HUBS - Free Report) is scheduled to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $2.47 per share, suggesting growth of 38.76% from the year-ago reported figure.
HubSpot has a long-term earnings growth expectation of 20%. The company delivered an average earnings surprise of 3.01% in the last four reported quarters.
Workday, Inc. (WDAY - Free Report) is set to release first-quarter fiscal 2027 earnings on May 21. The Zacks Consensus Estimate for earnings is pegged at $2.49 per share, implying growth of 11.7% from the year-ago reported figure.
Workday has a long-term earnings growth expectation of 20.16%. The company delivered an average earnings surprise of 8.53% in the last four reported quarters.
Motorola Solutions, Inc. (MSI - Free Report) is set to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $3.25 per share, implying growth of 2.2% from the year-ago reported figure.
Motorola has a long-term earnings growth expectation of 9.4%. The company delivered an average earnings surprise of 5.66% in the last four reported quarters.