On May 29, 2025, Skyworks Solutions, Inc. appointed Robert A. Schriesheim as interim Chief Financial Officer, following an unforeseen medical condition that prevented Mark P. Dentinger from assuming the role as planned. Mr. Schriesheim, a seasoned executive with extensive CFO experience at several publicly traded companies, will lead Skyworks’ financial operations during this transition. He will receive an annualized base salary of $625,000 and a strategic Restricted Stock Unit award, reinforcing the company’s commitment to strong financial leadership and stability.
Skyworks Solutions has demonstrated robust operational performance recently, marked by sustained free cash flow generation and strategic cost management. For the third quarter of fiscal 2024 ending June 28, 2024, Skyworks reported revenue of \(906 million, representing a solid performance amid market volatility. The company achieved a gross margin of 46% and an operating margin of 24%, with net income of approximately \)195 million and diluted earnings per share of $1.21. These figures reflect a 100 basis point gross margin improvement sequentially, underscoring efficiency in cost reduction and favorable product mix shifts.
Year-to-date free cash flow has reached \(1.3 billion, corresponding to an exceptional 40% free cash flow margin, which highlights Skyworks’ superlative working capital management and operational excellence. Capital expenditures remain moderate at less than 3% of revenue, emphasizing the company’s focus on maintaining capital efficiency. Additionally, Skyworks has returned significant value to shareholders via dividends (\)109 million in Q3) and stock repurchases (\(77 million), supported by a strong cash position of nearly \)1.3 billion against $1 billion in manageable debt.
From a market perspective, Skyworks is strategically positioned to benefit from secular growth trends across multiple sectors. The mobile segment, accounting for 61% of revenue, continues adjusting to normalized inventory and order patterns with potential growth fuelled by emerging technologies such as Generative AI catalyzing smartphone upgrades that increase RF complexity. In broad markets, including IoT and wireless infrastructure, the company anticipates modest growth, now experiencing the third consecutive quarter of such improvement.
The company is also capitalizing on advancements in edge IoT and next-generation Wi-Fi 7 technologies, alongside accelerating automotive design wins targeting telematics, infotainment, and connectivity solutions aligned with EV penetration and autonomous vehicle data needs. These initiatives are supported by Skyworks’ robust research and development investments and diversified customer base.
Skyworks’ ongoing focus on operational discipline, strategic technology investments, and financial prudence creates favorable outlook conditions. The forthcoming fiscal quarters are expected to see continued revenue growth driven by mobile recovery and broad market expansion, with gross margin projected to rise to 46%-47%. The company retains optionality for acquisitions but maintains strict capital allocation discipline, emphasizing shareholder returns and business innovation.
This 8-K report, combined with recent earnings remarks, reinforces Skyworks Solutions’ resilient business model, solid financial position, and strategic readiness to lead in a dynamic semiconductor environment.
For the source document, please visit: https://sec.gov/Archives/edgar/data/4127/000000412725000064/swks-20250529.htm
Tags: SWKS, SkyworksSolutions, Q3_2024, interimCFOAppointment, semiconductorFinancials, AIenabledSmartphoneGrowth