EarningsQ3 2026 Earnings Report
MX:ADI Q3 2026 EPS Results
Actual EPS$58.35
Consensus EPS$56.54
Beat/MissBeat by +$1.81
One Year Ago EPS$34.84
MX:ADI Q3 2026 Revenue Results
Actual Revenue$68.02B
Expected Revenue$66.28B
Beat/MissBeat by +$1.73B
YoY Revenue Growth+39.63%
Earnings Announcement Details
QuarterQ3 2026
Date08/19/2026
TimeBefore Open
Conference CallWednesday, August 19, 2026
MX:ADI Upcoming Earnings
Analog Devices's next earnings date is estimated for December 1, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:ADI Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive performance and outlook: record revenue, margin and EPS, exceptional data center and industrial momentum, robust free cash flow and strategic capability expansion (notably in power and optics). Management acknowledged manageable near‑term tradeoffs (higher balance sheet inventory, acquisition cash outflow) and industry‑wide risks (inflation, capacity planning, macro/geopolitical uncertainty), but emphasized design wins, a broadened SAM and sustained multi‑year growth drivers. Overall the positives materially outweigh the listed challenges.Company Guidance
Record Quarterly Revenue
Revenue of $4.02 billion in Q3 — ADI's first $4 billion quarter; +11% sequentially and +40% year‑over‑year.
Strong Profitability Metrics
Non‑GAAP gross margin 72.5% (down 50 basis points sequentially, up 330 basis points YoY); operating margin 50% (up 100 basis points sequentially and 780 basis points YoY).
Record EPS
Adjusted EPS of $3.45 in Q3 — at the high end of outlook; +12% sequentially and +68% year‑over‑year.
Robust Free Cash Flow and Cash Generation
Trailing 12‑month free cash flow of $4.9 billion (36% of revenue); trailing 12‑month operating cash flow $5.5 billion and trailing 12‑month CapEx $0.6 billion; returned more than 100% of free cash flow to shareholders over the period via dividends and buybacks.
Broad‑Based End‑Market Growth
Industrial (49% of revenue) +10% sequentially and +53% YoY; Automotive (25% of revenue) +14% sequentially and +16% YoY; Communications +18% sequentially and +84% YoY; Consumer +6% YoY (flat sequential).
Data Center and Optical/Power Momentum
Data center accelerating — now 80% of communications revenue; optical and power each >100% YoY growth in data center; OCS revenue poised to approximately double this year with similar growth targeted in 2027.
Strategic Acquisition and Technology Wins
Closed Empower Semiconductor acquisition for $1.5 billion (all‑cash), enhancing vertical power capabilities (in‑package power) and enabling potential compute energy/temperature reductions of ~10–15% in large AI deployments (example: ~$30M annual savings in a 1 GW data center).
Expanding Long‑Term Market Opportunity
Management states 2030 data center and energy SAM has more than doubled from prior expectations; company expects multi‑year double‑digit growth vectors in data center and energy.
Inventory and Channel Management Progress
Inventory increased $83 million sequentially to support demand, but days inventory declined to 156 and channel weeks fell below the 6–7 week target, improving channel positioning.
Forward Guidance Indicative of Continued Strength
Q4 outlook: revenue $4.3 billion ± $100 million; operating margin midpoint ~52% ±100 bps; adjusted EPS $3.86 ± $0.15; management expects gross margin to rise to ~74% driven by mix, absorption and prior price actions.
MX:ADI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed