Skyworks Solutions, Inc.

Good afternoon and welcome to the Skyworks Solutions first quarter fiscal year 2023 earnings call. This call is being recorded. At this time, I will turn the call over to Mitch Hawes, investor relations for Skyworks. Mr. Hawes, please go ahead.

Thank you, JP. Good afternoon, everyone, and welcome to Skyworks first fiscal quarter 2023 conference call. With me today are Liam Griffin, our chairman, CEO, and president, and Chris Senesal, our chief financial officer. Before we begin, I would like to remind everyone that our discussion will include statements relating to future results and expectations that are or may be considered forward-looking statements. Please refer to our earnings press release and recent SEC filings, including our annual report on Form 10-K, for information on certain risks that could cause actual outcomes to differ materially and adversely from any forward-looking statements made today. The results and guidance we will discuss include non-GAAP financial measures consistent with our past practice. Please refer to our press release within the investor relations section of our company website for complete reconciliation to GAAP. With that, I'll turn the call to Liam.

Thanks, Mitch, and welcome, everyone. Skyworks delivered solid first fiscal quarter results with revenue exceeding consensus estimates, strong profitability, and record cash flow performance. Looking at Q1 in more detail, we delivered revenue of $1 billion and $329 million, drove gross margin of 51.5%, and operating margin of 37%. We posted earnings per share of $2.59, and we generated $773 million of operating cash flow, a quarterly record for Skyworks. In addition to the solid financial results, We expanded our design wind pipeline in several emerging high-growth segments. In IoT, we extended our broadening technology portfolio across a growing customer base. We partnered with AT&T to launch their first Wi-Fi 6 gateways, unveiled the industry's first Wi-Fi 7 networking system with TP-Link, and leveraged our advanced connectivity portfolio to support 6 gigahertz fixed wireless access points at Cambion Networks. Across infrastructure and industrial markets, we integrated power over Ethernet functionality in Cisco modular switches for enterprise networks. We ramped timing platforms to meet high precision and speed requirements for the leading data centers. And we delivered frequency generation and clock distribution technology for 5G massive MIMO deployments. In automotive, we achieved our sixth consecutive quarter of record revenue, strengthening our EV design wind pipeline with onboard charger content at a Japanese automotive supplier, and securing design winds for digital radio platforms with a top European OEM. Moving forward, the rapid expansion of mobile network traffic, advances in cloud and edge computing, IoT and the electrification of vehicles, are major trends that drive complexity and demand for our highly integrated and customized solutions. A few highlights underscore these remarks. Wireless connections continue to proliferate, with mobile network traffic doubling over the past two years. Market estimates project over 25 billion IoT devices to be installed by 2027. The automotive industry is undergoing a revolutionary shift towards electrification of autonomous vehicles, with EVs projected to make up over 30% of the U.S. market by 2030. Skyworks is well positioned to capture growth upon these opportunities in transformative markets, leveraging key technologies, human capital, and significant scale. Collaborating with our partners and customers, we are leveraging key technologies from PC saw to high-performance bulk acoustic wave filtering, gallium arsenide, and state-of-the-art packaging. These skills and capabilities position Skyworks to play a leading role in this fast-evolving, rapidly growing landscape. With that, I will now turn the call over to Chris for a discussion of last quarter's performance and our outlook for Q2.