Qorvo, Inc. reported fiscal 2027 first quarter results ending June 27, 2026, with GAAP revenue of $784.8 million, a 4.2% year-over-year decline. GAAP diluted earnings per share were $0.96, compared to $0.27 in the prior year period. Non-GAAP diluted EPS reached $1.64, up 78% year-over-year, driven by an 880 basis point expansion in non-GAAP gross margin to 52.8%. The company cited double-digit revenue growth in its Defense & Aerospace (D&A), infrastructure, and power segments, alongside a strategic pivot in its ACG segment toward higher-value placements. Qorvo updated its full-year fiscal 2027 guidance, maintaining a non-GAAP gross margin expectation above 50% and raising non-GAAP diluted EPS guidance to above $7.00. Due to a pending merger transaction with Skyworks, Qorvo discontinued conference calls and further forward-looking guidance. Qorvo is a leading global provider of connectivity and power semiconductor solutions for automotive, consumer, defense, and infrastructure markets.

In connection with its proposed merger with Skyworks Solutions, Inc., Qorvo, Inc. is facilitating an exchange offer for its outstanding 4.375% Senior Notes due 2029 and 3.375% Senior Notes due 2031. Skyworks is offering to exchange the 2029 notes for up to $850 million in new 4.375% 2029 Skyworks notes and the 2031 notes for up exchange of up to $700 million in new 3.375% 2031 Skyworks notes. The company has received the requisite number of consents to amend the existing indentures to eliminate restrictive and affirmative covenants and events of default. Qorvo, Inc. operates in the semiconductor industry, providing radio frequency and connectivity solutions.

On June 4, 2026, Qorvo's Compensation Committee approved fiscal year 2027 performance-based restricted stock units (PBRSUs) for named executive officers, including CEO Robert A. Bruggeworth and CFO Grant A. Brown. Awards are based on non-GAAP operating income (50%), gross margin (25%), and revenue (25%) targets, with a grant date fair market value of $103.97 per share. Additionally, Philip J. Chesley received a retention award consisting of 9,618 service-based RSUs and 9,618 PBRSUs tied to organic HPA revenue growth. The filing notes that these PBRSUs will remain in place following the company's previously announced merger with Skyworks Solutions, Inc. Qorvo operates in the semiconductor industry, providing radio frequency (RF) and analog solutions.