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Tuesday, May 24, 2022

Skyworks Prelim Results At Midpoint; Mexico Slows

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Chipmaker Skyworks Solutions Inc. in Irvine pegged preliminary quarterly revenue at $766 million, the midpoint of its lowered expectations issued in early March, and expects adjusted earnings per share within the range it gave then.

Its scheduled to release second-quarter results May 4.

A government-ordered suspension Monday at a Skyworks manufacturing plant in Mexico from the coronavirus pandemic isn’t expected to affect earnings unless it continues into May or later.

“Skyworks does not expect that the temporary suspension of its Mexicali Operations through April 30, 2020, would have a significant impact on the company’s business operations,” a statement said.

Beyond that a closure affect “Skyworks’ ability to meet customer demand and … operating results.” The chipmaker said it’s working with officials “to resume operations as soon as practicable.”

Plant operations include semiconductor assembly and radio frequency chip-scale packages, as well as test and finishing services for the company’s devices, Skyworks’ website says.

Skyworks had seen “limited impact to date” on its global supply chain prior to the Mexicali closure.

Its shares in midday trading Tuesday were up 3.6% to $93.76 and a $15.9 billion market cap.

Go here for more updates on how OC companies are responding to coronavirus.

For ongoing, in-depth coverage of coronavirus effects on OC businesses, see the Monday print edition of the Business Journal.

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal

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