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For the third quarter, revenues are expected to be in the range of $1.20-$1.260 billion, indicating growth of 10% from the figure reported in the year-ago quarter.
Non-GAAP earnings are anticipated to be $2.32 per share at the mid-point of this revenue guidance, indicating growth of 10% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $1.23 billion, which suggests 10.27% growth from the year-ago quarter’s levels.
The consensus mark for earnings has been steady at $2.36 per share in the past 30 days, suggesting 9.77% growth from the figure reported in the year-ago quarter.
Skyworks’ earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, delivering an earnings surprise of 1.36%, on average.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Influenced Q3 Performance
Robust uptake of 5G, Wi-Fi 6 and 6E solutions is likely to have driven Skyworks’ top line in the fiscal third quarter. Demand is being 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.
Accelerated 5G deployment, globally, is a tailwind for Skyworks. Emerging use cases of 5G in end-markets like automotive and industrial IoT, and technologies like virtual reality, gaming, and telemedicine are driving demand for Skyworks’ 5G solutions.
Moreover, healthy demand for the iPhone 13 might have favored revenues in the quarter under review. Expanding demand for Skyworks solutions among Tier 1 smartphone manufacturers has been a tailwind.
Momentum for Skyworks’ bulk acoustic wave ("BAW") filters, particularly in mobile and broad markets, is likely to have driven the top-line performance. The company has been witnessing significant design wins for BAW-enabled devices.
However, supply chain disruptions, COVID lockdown in China and the negative impact of the Russia-Ukraine conflict on European sales are anticipated to have limited Skyworks' top-line growth and margin expansion in the to-be-reported quarter.
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 #3, 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:
Image: Bigstock
Skyworks (SWKS) to Report Q3 Earnings: What's in the Cards?
Skyworks Solutions (SWKS - Free Report) is slated to release its third-quarter fiscal 2022 results on Aug 4.
For the third quarter, revenues are expected to be in the range of $1.20-$1.260 billion, indicating growth of 10% from the figure reported in the year-ago quarter.
Non-GAAP earnings are anticipated to be $2.32 per share at the mid-point of this revenue guidance, indicating growth of 10% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $1.23 billion, which suggests 10.27% growth from the year-ago quarter’s levels.
The consensus mark for earnings has been steady at $2.36 per share in the past 30 days, suggesting 9.77% growth 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 of the trailing four quarters, delivering an earnings surprise of 1.36%, on average.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Influenced Q3 Performance
Robust uptake of 5G, Wi-Fi 6 and 6E solutions is likely to have driven Skyworks’ top line in the fiscal third quarter. Demand is being 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.
Accelerated 5G deployment, globally, is a tailwind for Skyworks. Emerging use cases of 5G in end-markets like automotive and industrial IoT, and technologies like virtual reality, gaming, and telemedicine are driving demand for Skyworks’ 5G solutions.
Moreover, healthy demand for the iPhone 13 might have favored revenues in the quarter under review. Expanding demand for Skyworks solutions among Tier 1 smartphone manufacturers has been a tailwind.
Momentum for Skyworks’ bulk acoustic wave ("BAW") filters, particularly in mobile and broad markets, is likely to have driven the top-line performance. The company has been witnessing significant design wins for BAW-enabled devices.
However, supply chain disruptions, COVID lockdown in China and the negative impact of the Russia-Ukraine conflict on European sales are anticipated to have limited Skyworks' top-line growth and margin expansion in the to-be-reported quarter.
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 #3, 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:
Blink Charging (BLNK - Free Report) has an Earnings ESP of +4.23% and carries a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Blink shares are down 18.8% year to date. BLNK is set to report second-quarter 2022 results on Aug 8.
Fastly (FSLY - Free Report) has an Earnings ESP of +8.40% and a Zacks Rank #2.
Fastly shares have declined 67.6% on a year-to-date basis. The company is set to report second-quarter 2022 results on Aug 3.
Sabre (SABR - Free Report) has an Earnings ESP of +9.43% and a Zacks Rank #3.
Sabre shares are down 27.1% year to date. SABR is set to report second-quarter fiscal 2022 results on Aug 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.