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Get filing alertsSkyworks eliminates dividend, authorizes $2B buyback, plans $2B debt for Qorvo acquisition
Filed July 28, 2026 · Period ending July 27, 2026 · ~1 min read
Key Changes
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Skyworks eliminated its quarterly cash dividend entirely, redirecting capital toward share repurchases, balance sheet deleveraging, and opportunistic M&A as part of a new capital allocation framework for the combined company.
Item 8.01 verify on EDGAR → -
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The board authorized a new $2 billion stock repurchase program through January 31, 2029, replacing the prior $2 billion program approved in February 2025. The company expects to fund repurchases using working capital.
Item 8.01 verify on EDGAR → -
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Skyworks announced it anticipates raising approximately $2 billion of acquisition debt financing for the pending Qorvo combination, with management optimistic about closing within the calendar year.
Exhibit 99.1 view on EDGAR → -
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Q3 FY2026 revenue was $935 million with non-GAAP diluted EPS of $1.08. Q4 guidance calls for revenue of $1,010 million to $1,060 million with non-GAAP diluted EPS of $1.27 at the midpoint, including approximately $0.03 per share in incremental interest expense from partial-quarter Qorvo financing costs.
Item 2.02 verify on EDGAR →
Summary
Skyworks announced a major shift in capital allocation alongside its Q3 FY2026 earnings, eliminating its quarterly dividend and authorizing a new $2 billion stock repurchase program through January 2029. The dividend elimination redirects cash toward buybacks, balance sheet deleveraging, and opportunistic M&A as part of a new framework for the combined company following the pending Qorvo acquisition. The company plans to raise approximately $2 billion in acquisition debt financing and expects to close the Qorvo deal within the calendar year, potentially as early as within the fiscal year.
For Q3 FY2026, Skyworks reported revenue of $935 million and non-GAAP diluted EPS of $1.08, above management's expectations. Q4 guidance calls for revenue of $1,010 million to $1,060 million with non-GAAP diluted EPS of $1.27 at the midpoint, including approximately $0.03 per share in incremental interest expense from partial-quarter financing costs for the Qorvo acquisition. The capital allocation shift signals management's confidence in the combined company's free cash flow generation and prioritizes shareholder returns through buybacks over regular dividends.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Skyworks announced Q3 FY2026 financial results for the three- and nine-month periods ended July 3, 2026.
Added in current filing · verify on EDGAR →
On July 28, 2026, Skyworks Solutions, Inc. (the “Registrant”), issued a press release in which it announced financial results for the three- and nine-month periods ended July 3, 2026.
Skyworks disclosed financial results for its fiscal third quarter and nine-month period ended July 3, 2026. The 8-K references a press release (Exhibit 99.1) containing the detailed results, but the body of the filing does not provide specific revenue, earnings, or guidance figures.
Event · Item 8.01 — Other Events
Skyworks eliminates quarterly dividend, authorizes new $2B buyback program through Jan 2029, replacing prior program.
Added in current filing · verify on EDGAR →
On July 28, 2026, the Registrant announced that its board of directors has decided not to declare any quarterly cash dividends on its common stock going forward.
Skyworks has eliminated its quarterly cash dividend entirely. The board decided not to declare any future quarterly dividends on common stock. This represents a shift in capital allocation strategy away from regular dividend payments to shareholders.
Added in current filing · verify on EDGAR →
On July 27, 2026, the board of directors of the Registrant authorized a stock repurchase program for the repurchase of up to $2.0 billion of the Registrant’s common stock from time to time through January 31, 2029, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements.
The board authorized a new $2 billion stock repurchase program running through January 31, 2029. Repurchases may occur on the open market or through privately negotiated transactions. The program provides management flexibility on timing and amounts based on market conditions.
Added in current filing · verify on EDGAR →
This newly authorized stock repurchase program succeeds in its entirety the $2.0 billion stock repurchase program that was approved by the board of directors on February 4, 2025, which has been terminated as of July 27, 2026.
The new buyback program replaces the prior $2 billion program that was approved in February 2025. The prior program has been terminated as of July 27, 2026, and the new authorization supersedes it entirely.
Added in current filing · verify on EDGAR →
The Registrant currently expects to fund the stock repurchase program using its working capital.
Skyworks plans to fund the repurchase program using working capital rather than taking on debt or using other financing sources. This indicates the company has sufficient cash resources to support the buyback authorization.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Revenue for the third fiscal quarter of 2026 was $935 million. On a GAAP basis, operating income for the third fiscal quarter was $49 million with diluted earnings per share of $0.22. On a non-GAAP basis, operating income was $182 million with non-GAAP diluted earnings per share of $1.08.
Skyworks reported Q3 FY2026 revenue of $935 million, GAAP diluted EPS of $0.22, and non-GAAP diluted EPS of $1.08. Management stated results were above expectations, with mobile performing well and Broad Markets delivering year-over-year growth led by double-digit gains in automotive and data center.
Added in current filing · view on EDGAR →
For the September quarter, we anticipate revenue of $1,010 million to $1,060 million, with non-GAAP diluted earnings per share of $1.27 at the mid-point of the revenue range ... Our guidance includes approximately $5 million in incremental net interest expense, or approximately $0.03 per share, reflecting a partial quarter of financing costs associated with the pending Qorvo acquisition.
Skyworks guided Q4 FY2026 revenue to $1,010 million to $1,060 million with non-GAAP diluted EPS of $1.27 at the midpoint. The guidance includes approximately $5 million in incremental net interest expense (approximately $0.03 per share) from partial-quarter financing costs for the pending Qorvo acquisition. Management expects Mobile to grow sequentially in the high-teens range and Broad Markets to grow approximately 5% year-over-year.
Added in current filing · view on EDGAR →
Announces New Capital Allocation Framework for Combined Company; New Stock Repurchase Authorization of $2 Billion ... the board has replaced the stock repurchase program expiring in February 2027 with a new $2 billion stock repurchase program
The board authorized a new $2 billion stock repurchase program, replacing the program expiring in February 2027. Repurchases may be made from time to time in the open market or through privately negotiated transactions; the program does not obligate the company to repurchase any minimum number of shares and may be suspended or discontinued at any time.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify