Qorvo Q4 Earnings Surpass Estimates, Revenues Decline Y/Y
The company reported a revenue contraction year over year due to a net sales drop in the Advanced Cellular Group (ACG) and Connectivity and Sensors Group (CSG) verticals. However, solid demand trends in multiple end markets, including defense, aerospace, power management, WiFi and smartphones, partially cushioned the top-line growth in this quarter.
Net Income
On a GAAP basis, the company reported a net income of $31.4 million or 33 cents per share compared with $2.7 million or 3 cents per share in the prior-year quarter. Despite lower revenues, GAAP earnings improved largely due to lower operating expenses and an income tax benefit in the reported quarter.
Non-GAAP net income was $133.3 million or $1.42 per share compared with $135.5 million or $1.39 per share in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate by 41 cents. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
For fiscal 2025, Qorvo reported a GAAP net income of $55.6 million or 58 cents per share against a net loss of $70.3 million or a loss of 72 cents per share.
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 $869.5 million from $941 million in the prior-year quarter. Despite significant improvement in inventory levels, demand in various end markets has yet to recover fully, which has impeded revenues. Macroeconomic headwinds also impacted the top line. Nevertheless, during the quarter, the company secured major design wins for low-band, mid-high-band, and ultra-high-band paths, as well as mid-high secondary transmit, antenna tuning, discrete filters, and Wi-Fi 7 front-end modules that offer unmatched flexibility in power management and efficiency. The top line beat the Zacks Consensus Estimate of $852 million.
For fiscal 2025, total revenues were $3.72 billion compared with $3.77 billion in fiscal 2024.
High Performance Analog contributed $187.9 million in revenues compared with $164.6 million in the year-ago quarter, largely driven by record revenues in the defense and aerospace business. Strength was broad-based and included applications such as manned and drone-based airborne radar, space-based radar, Satellite Communications, Electronic Warfare and missile defense systems. The company secured new product orders for several large domestic and international ground-based radar systems. The transition from legacy mechanical systems to active electronics scanning systems is driving growth in the defense and aerospace business.
In power management, the company continues to boast a strong presence in the consumer electronics sector. Healthy traction in automotive also cushioned the top line. The growing demand for DOCSIS 4.0 hybrid power doublers is supporting the growth of the infrastructure business.
Revenues from CSG were $101.3 million compared with $122.8 million in the year-earlier quarter, missing our estimate of $122.2 million.
Net sales in ACG were $580.3 million, down 11.2% year over year, due to seasonal dynamics. However, the top line beat the Zacks Consensus Estimate of $537.8 million.
Other Details
Non-GAAP gross profit declined to $398.7 million from $400.4 million, with respective margins of 45.9% and 42.5%. Non-GAAP operating expenses declined to $246.8 million from $253.2 million a year ago. Non-GAAP operating income was $151.8 million compared with $147.2 million in the year-ago quarter.
Cash Flow & Liquidity
As of March 31, 2025, QRVO had $1.02 billion in cash and cash equivalents and $1.55 billion of long-term debt compared with respective tallies of $1.03 billion and $1.55 billion in the prior-year period. The company generated $199.2 million in net cash from operating activities in the quarter, with a free cash flow of $170.7 million.
Outlook
For first-quarter fiscal 2026, the company expects revenues of $775 million (+/- $25 million). Non-GAAP gross margin is projected to be between 42% and 44%. Non-GAAP earnings per share are likely to be in the range of 50-75 cents.
QRVO's 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
InterDigital IDCC is scheduled to release first-quarter 2025 earnings on May 1. The Zacks Consensus Estimate for earnings is pegged at $2.05 per share, indicating a decline of 42.74% from the year-ago figure.
Bandwidth Inc. BAND is scheduled to release first-quarter 2025 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at 29 cents per share, indicating an improvement of 7.41% from the year-ago figure.
Light and Wonder LNW is scheduled to release first-quarter 2025 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $1.17 per share, indicating an improvement of 25.81% from the year-ago figure.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
InterDigital, Inc. (IDCC): Free Stock Analysis Report
Qorvo, Inc. (QRVO): Free Stock Analysis Report
Bandwidth Inc. (BAND): Free Stock Analysis Report
Light & Wonder, Inc. (LNW): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
2 hours ago
- Cision Canada
Key Opinion Leader Event Highlights Pelareorep's Compelling Pancreatic and Gastrointestinal Data And Future Potential
SAN DIEGO and CALGARY, AB, July 23, 2025 /CNW/ -- Oncolytics Biotech ® Inc. (Nasdaq: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, hosted a key opinion leader (KOL) webinar featuring leading physicians in the fields of oncology and immunotherapy discussing pelareorep's robust clinical data and how it fits in the evolving treatment landscape for pancreatic and gastrointestinal (GI) cancers. The KOLs provided individual presentations and then participated in a roundtable Q&A discussion. A replay of the full conversation can be found by clicking here. A selection of key takeaways includes: The meaningful survival benefit demonstrated by pelareorep-based treatment combinations in first-line (1L) metastatic pancreatic ductal adenocarcinoma (mPDAC) patients across randomized and single-arm clinical studies necessitates evaluating pelareorep in a registration-enabling study in 1L mPDAC. Immunotherapies have not yet been approved to treat mPDAC patients, illustrating an unmet need, which provides an opportunity for an immunologically active agent like pelareorep to deliver an impactful clinical benefit in this challenging indication. The combination of pelareorep and chemotherapy would be an appealing treatment option for 1L mPDAC patients, even with the presence of RAS inhibitors in the treatment paradigm. Translational data from multiple mPDAC and colorectal cancer clinical trials validate pelareorep's mechanism of action, showing that it replicates in tumors, stimulates chemokine expression, and induces the expansion of tumor-infiltrating lymphocytes (TILs), which correlates with a reduction in tumor size. "I want to thank our esteemed panel of oncologists for their meaningful contributions to our KOL event," said Jared Kelly, Chief Executive Officer of Oncolytics. "Their insights underscore a critical and timely message: pelareorep is a compelling immunotherapy platform that is well situated for combination strategies and a highly differentiated asset for pharma partners looking to expand or establish leadership in GI oncology. We are committed to moving forward aggressively toward registrational development while engaging with partners who share our vision of transforming outcomes in these difficult-to-treat cancers." About Oncolytics Biotech Inc. Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype -- turning "cold" tumors "hot" -- through innate and adaptive immune responses to treat a variety of cancers. Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For more about Oncolytics, please visit: or follow the company on social media on LinkedIn and on X @ oncolytics. This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and forward-looking information under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred to herein as "forward-looking statements"). Forward-looking statements contained in this press release include statements regarding Oncolytics' belief as to the potential, mechanism of action and benefits of pelareorep as a cancer therapeutic; our commitment to moving forward aggressively toward registrational development while engaging with partners who share our vision of transforming outcomes in these difficult-to-treat cancers; our plans to advance pelareorep into registration enabling studies in metastatic breast cancer and pancreatic cancer; and other statements related to anticipated developments in Oncolytics' business and technologies. In any forward-looking statement in which Oncolytics expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will be achieved. Such forward-looking statements involve known and unknown risks and uncertainties, which could cause Oncolytics' actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of pelareorep as a cancer treatment, the success and timely completion of clinical studies and trials, Oncolytics' ability to successfully commercialize pelareorep, uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment. We may incur expenses or delays relating to events outside of our control, which could have a material adverse impact on our business, operating results and financial condition. Investors should consult Oncolytics' quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements, except as required by applicable laws. Company Contact Jon Patton Director of IR & Communication [email protected] Investor Relations for Oncolytics Mike Moyer LifeSci Advisors +1-617-308-4306 [email protected] Media Contact for Oncolytics
Globe and Mail
2 hours ago
- Globe and Mail
DOW Gears Up for Q2 Earnings: What's in the Cards for the Stock?
Dow Inc. DOW is scheduled to come up with second-quarter 2025 results before the opening bell on July 24. DOW surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed twice. It has a trailing four-quarter earnings surprise of 24.2% on average. Dow posted an earnings surprise of 200% in the last reported quarter. While DOW is expected to have benefited from its productivity initiatives, soft demand due to weak global economic activities and pricing pressures are likely to have affected its second-quarter performance. Dow's shares are down 44.4% over a year compared with the Zacks Chemicals Diversified industry's 18.4% decline. Let's see how things are shaping up for this announcement. What Do DOW's Revenue Estimates Say? The Zacks Consensus Estimate for revenues for DOW for the to-be-reported quarter is pinned at $10,445.6 million, suggesting a year-over-year decline of 4.6%. Our estimate for revenues for the Packaging & Specialty Plastics segment is currently pegged at $5,197.9 million, calling for a decline of 5.8% year over year. The same for the Industrial Intermediates & Infrastructure segment stands at $2,884.6 million, indicating a 2.3% year-over-year decline. Our estimate for revenues for the Performance Materials & Coatings segment is pinned at $2,142.1 million, suggesting a fall of 4.5% year over year. Factors Shaping DOW's Q2 Results Dow is expected to have faced headwinds from demand softness in Europe and China in the quarter to be reported. Lower consumer spending amid inflationary pressures is affecting demand in Europe. Construction and manufacturing activities remain soft in the region. Demand in Asia has been affected by a weaker demand recovery in China. The property sector in China remains sluggish, with declining new home prices. Inflationary pressures are impacting consumer durables and building and construction demand. Demand in infrastructure, including residential construction, also remains weak. Dow sees softness in automotive in Europe due to low demand. Soft conditions across these markets are likely to have weighed on DOW's volumes in the second quarter. Weak macroeconomic conditions due to disruptions caused by tariffs are expected to have affected business and consumer sentiment. Dow is also being challenged by weak siloxane prices in its Performance Materials & Coatings unit. The segment continues to see siloxane pricing pressure partly due to supply additions in Asia. Siloxane prices remain under pressure due to competitive pricing pressure resulting from additional supply driven by capacity additions in China. While capacity additions have slowed, elevated industry supply is expected to continue to have impacted prices in the second quarter. Nevertheless, Dow is likely to have benefited from cost-saving and productivity actions. DOW is implementing targeted actions focused on reducing direct costs and labor costs. It is taking action to cut costs by $1 billion to drive margins. Dow sees around $300 million in benefits from these actions in 2025, with full benefits expected by 2026. The benefits of DOW's cost-saving actions are likely to be reflected in its bottom line in the to-be-reported quarter. Dow Inc. Price and EPS Surprise Dow Inc. price-eps-surprise | Dow Inc. Quote What Our Model Unveils for DOW Stock Our proven model does not conclusively predict an earnings beat for DOW this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that's not the case here. Earnings ESP: Earnings ESP for DOW is -53.04%. The Zacks Consensus Estimate for the second quarter is currently pegged at a loss of 8 cents. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Zacks Rank: DOW currently carries a Zacks Rank #5 (Strong Sell). Basic Materials Stocks That Warrant a Look Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter: Agnico Eagle Mines Limited AEM, scheduled to release earnings on July 30, has an Earnings ESP of +8.77% and carries a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here. The consensus estimate for AEM's earnings for the second quarter is currently pegged at $1.66. Newmont Corporation NEM, slated to release earnings on July 24, has an Earnings ESP of +4.42% and carries a Zacks Rank #2 at present. The consensus mark for NEM's second-quarter earnings is currently pegged at $1.05. Kinross Gold Corporation KGC, scheduled to release earnings on July 30, has an Earnings ESP of +15.34%. The Zacks Consensus Estimate for KGC's earnings for the second quarter is currently pegged at 27 cents. KGC currently carries a Zacks Rank #1. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dow Inc. (DOW): Free Stock Analysis Report Newmont Corporation (NEM): Free Stock Analysis Report Kinross Gold Corporation (KGC): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report
Winnipeg Free Press
5 hours ago
- Winnipeg Free Press
Edmunds: Five expert tips to make cross-country EV driving easy
The idea of a cross-country road trip in an electric vehicle might seem daunting. After all, it's not hard to envision getting stranded on the side of the road with a depleted battery or being stuck in a parking lot, charging for hours. But there are ways to easily avoid these worst-case scenarios. The experts at Edmunds have plenty of experience driving electric vehicles, and here they share their five best tips on how to make cross-country driving in an EV easy. Use EV route planning applications Minimizing the number of charging stations you visit and your time at them is key to efficient road-tripping in an EV. To accomplish this, use a route planning application. A route planner helps you determine where and when you should stop to charge to reach your destination. The navigation system in most new EVs typically has this functionality built in. You simply enter your destination, and the navigation system automatically calculates where you will need to charge along your route. In our experience, Tesla vehicles have the best route planning capability. EVs that utilize Google Maps as their onboard navigation system have a similar capability. Many of the latest EVs from General Motors, such as the Chevrolet Equinox EV, have Google Maps integration. Alternatively, you can use an EV route planning smartphone app such as A Better Route Planner (ABRP) or PlugShare. We prefer ABRP because it's available as an app or through an internet browser. It also shows more details at each stop, like the expected battery percentage. When using a route planner, stick to Level 3 fast charging stations when driving. Slower Level 2 stations will take hours but are ideal for overnight charging. Use Tesla charging stations The Tesla Supercharger network of fast charging stations is the largest in the country. We recommend using them on a cross-country trip because they are usually very reliable and have more charging stalls per location than most networks. Teslas have access to them and certain non-Tesla EVs are also eligible to use them, but most non-Tesla EVs need an adapter to charge at a Tesla Supercharger. Check with your local service center or search online to determine if your EV is compatible. If you have a non-Tesla EV that has access, change the settings in your route planner to include Tesla stations. If your EV cannot charge at Tesla stations, you'll need to utilize other third-party charging station networks. Some of the largest networks include Electrify America, EVgo and ChargePoint. Have a backup plan, and leave a range cushion When planning a route that does not use Tesla Superchargers, it's best to have a backup charging station for each stop. Charging stations can sometimes be out of order, and in some cases, like during a holiday or on busy highways, there could be long lines. To find the status of a specific charging station, download the app of the company the station belongs to. Make sure to leave yourself enough range to make it to your backup station as well. Stay in hotels with on-site charging stations Staying at hotels with on-site charging stations can save time and money. Hotel charging stations are typically Level 2 stations that can fully charge your battery overnight, allowing you to start your trip immediately instead of charging before you hit the highway. They are usually more affordable than fast charging stations, and in some cases, are free. One way to find hotels with charging stations is by using the PlugShare app. This app contains a database of charging stations, and you can filter it to show stations connected with lodging locations. Use charging stations that have amenities It's fair to expect that each charging stop you make in your EV will take 20-45 minutes. To make the most of that time, charge at stations with a convenience store, retail store or restaurant nearby. That way, you can use the bathroom, grab some stacks or even get a full meal while your vehicle is charging. Many charging stations are located near stores or restaurants, but not all. You can use Google Maps or similar smartphone apps to find out what's within walking distance of the charging stations you plan on using. You can change the stations your route planner recommends as long as they aren't too far away. Edmunds says Planning a cross-country trip in an EV takes extra effort, but doing it properly can make the journey nearly as smooth as in a gas-powered car. Give yourself access to as many fast charging stations as possible by choosing an EV that's capable of using Tesla Supercharger stations. ____ This story was provided to The Associated Press by the automotive website Edmunds. Michael Cantu is a contributor at Edmunds.
