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Cirrus Logic (CRUS)
NASDAQ:CRUS
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
1.75Last Year’s EPS
1.67Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong, tangible financial and operational traction: a revenue beat, record EPS, robust cash generation, margin improvement sequentially, meaningful progress ramping new PC and other market products, and a healthy balance sheet. Offsetting these positives are material risks and near-term headwinds including very high customer concentration (~94%), weaker general market sales (partly from a strategic pullback from Android and end-of-life product unwind), anticipated pricing pressure that compressed YoY margins (~50 bps), and a significant drop implied by Q4 guidance (midpoint down ~24% QoQ). On balance, the company demonstrated strong execution and momentum while also signaling concentrated customer exposure and near-term seasonality/transition risks.Company Guidance
Revenue Beat and Growth
Q3 revenue of $580.6M, above the top end of guidance; revenue up 4% sequentially and up 4% year-over-year, driven by stronger-than-expected smartphone unit volumes and favorable mix.
Record Earnings Per Share and Profitability
Non-GAAP net income of $156.7M and record non-GAAP EPS of $2.97 for the quarter; non-GAAP operating income was $175.1M, representing 30.2% of revenue.
Strong Gross Profit and Sequential Margin Improvement
Non-GAAP gross profit of $308.2M and non-GAAP gross margin of 53.1%; gross margin improved by ~60 basis points sequentially (benefit from reduced inventory reserves and supply chain efficiencies).
Exceptional Cash Generation and Strong Balance Sheet
Ending cash and investments of $1.08B (up $185.9M QoQ); cash flow from operations of $290.8M for the quarter; quarterly non-GAAP free cash flow margin of 49% (TTM FCF margin 31%); no debt on the balance sheet.
Active Capital Return
Executed $70M of share repurchases in the quarter (approximately 591,000 shares at an average price of $118.33) with $344.1M remaining authorization.
PC Momentum and New Product Wins
Ramped first shipments of latest-generation amplifier and codec into mainstream PC platforms ahead of customer launches; multiple CES product introductions using Cirrus components, including first win with a new customer in a high-end PC platform; company expects PC revenue in FY26 to roughly double from low tens of millions in FY25 and sees strong runway into FY27.
New Product Roadmap: AI PCs, Automotive Haptics, Prosumer Audio
Sampling a voice-focused codec for AI-enabled PCs (potentially ~2x ASP vs prior generation; revenue visibility in calendar 2027–2028); sampling new prosumer audio family and automotive haptic components; strong engagement on next-gen camera controllers and advanced battery/power IP.
Inventory and Working Capital Improvement
Inventory reduced to $189.5M from $236.4M in the prior quarter; days of inventory approximately 63, contributing to better working capital dynamics and margin benefits.
CRUS 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
CRUS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 03, 2026 | $124.58 | ― | ― |
Nov 04, 2025 | $129.63 | $119.42 | -7.88% |
Aug 05, 2025 | $104.97 | $97.25 | -7.35% |
May 06, 2025 | $98.72 | $96.66 | -2.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cirrus Logic (CRUS) report earnings?
Cirrus Logic (CRUS) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Cirrus Logic (CRUS) earnings time?
Cirrus Logic (CRUS) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRUS EPS forecast?
CRUS EPS forecast for the fiscal quarter 2026 (Q4) is 1.75.