Analog Devices forecasts $3.1B Q1 revenue as industrial and communications lead FY26 growth
View original at seekingalpha.comAnalog Devices forecasts $3.1B Q1 revenue as industrial and communications lead FY26 growth Earnings Call Insights: Analog Devices (ADI) Q4 2025 MANAGEMENT VIEW * CEO Vincent Roche reported "continued growth in revenue and earnings per share, both of which finished above the midpoint of our outlook," noting that all en…
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Analog Devices achieved continued growth in revenue and earnings per share, both of which finished above the midpoint of outlook
80% confidenceIndividual end market margins versus average has not changed in any meaningful way
80% confidenceData center business in FY25 grew about 50% and ATE business grew at 40% last year
80% confidenceFiscal 2025 gross margin was 69.3% and operating margin was 41.9%
80% confidenceLead times for most products are sub-13 weeks and visibility has not improved over the last 2 years
80% confidenceConsumer is expected to be seasonally down low double digits in Q1 2026
80% confidenceData center in '25 grew about 50% and the ATE business grew at 40% last year
80% confidenceADI is realizing stronger value capture as reflected in increase in average selling prices, particularly in new products where ASPs significantly exceed legacy offerings
80% confidenceWe continue to see some risk there around tariff and some of the macro environment
80% confidenceIndustrial expected to be up mid-single digits above seasonal
80% confidenceQ1 gross margin is expected to be flattish due to seasonal shutdowns offset by higher industrial mix
80% confidenceRevenue for the year came in at just over $11 billion, up 17% from fiscal '24, with double-digit growth across all end markets
80% confidenceData center grew about 50% in fiscal 2025 and ATE business grew at 40%
80% confidenceGross margin of 69.3% for the year and operating margin of 41.9%
80% confidenceMaxim revenue synergies clearly accelerated in '25, and it's in the hundreds of millions against our $1 billion target by '27
80% confidenceQ1 gross margin expected to be flattish due to seasonal shutdowns offset by higher industrial mix
80% confidenceSome automotive upside may have been tariff and policy related, remaining cautious due to uncertainty
80% confidenceADI's new Acoustics platform enables the company to triple the value generated over legacy designs
80% confidenceIndividual end market margins versus average has not changed in any meaningful way
80% confidenceQ1 2026 revenue guidance is $3.1 billion, plus or minus $100 million, with operating margin at midpoint of 43.5%, tax rate of 12% to 14%, and adjusted EPS of $2.29, plus or minus $0.10
80% confidenceQ1 2026 operating margin is expected to be 43.5% at the midpoint
80% confidenceQ1 outlook is up slightly quarter-over-quarter, reflecting seventh straight quarter of above seasonal growth
80% confidenceRevenue for fiscal year 2025 came in at just over $11 billion, up 17% from fiscal 2024, with double-digit growth across all end markets
80% confidenceAll end markets increased by double digits in fiscal 2025
80% confidenceIndustrial expected to be up mid-single digits above seasonal in Q1 2026
80% confidenceExpectation is that in '26, industrial and communications will lead the charge
80% confidenceADI is realizing stronger value capture through increase in average selling prices, particularly in new products where ASPs significantly exceed legacy offerings
80% confidencePower management for ADI is still an opportunity with a much bigger growth story
80% confidenceADI is realizing stronger value capture as reflected in the increase in average selling prices, particularly in new products where ASPs significantly exceed those of legacy offerings
80% confidenceAnalog Devices achieved earnings per share growth of more than 20% in fiscal 2025
80% confidence