Texas Instruments Incorporated Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • TI reported Q1 2026 revenue of $4.8B, up 9% sequentially and up 19% year-over-year (compared to Q1 2025).
  • Analog revenue grew 22% year-over-year; Embedded Processing grew 12%; Other segment declined 16% year-over-year.
  • Strong outperformance was driven primarily by Industrial and Data Center end markets.
  • TI announced plans to acquire Silicon Labs, expected to close in 1H 2027.

End Market Performance

  • Industrial: Up more than 30% year-over-year and more than 20% sequentially; growth broad across all sectors and regions. Despite strong gains, still ~15% below the 2022 peak, suggesting room for continued recovery.
  • Automotive: Mid-single-digit growth year-over-year; flat sequentially. China declined sequentially while the rest of world grew. Market remains near peak levels.
  • Data Center: Up ~90% year-over-year and up more than 25% sequentially; eighth consecutive quarter of sequential growth.
  • Personal Electronics: Flat year-over-year, low-single-digit sequential increase; better than typical seasonality due to easy prior-year comparison.
  • Communications Equipment: Up ~25% year-over-year and more than 30% sequentially.

Profitability

  • Gross profit: $2.8B, 58% margin; up 210 basis points sequentially.

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Mike Beckman: Welcome to the Texas Instruments First Quarter 2026 Earnings Conference Call. I'm Mike Beckman, Head of Investor Relations, and I'm joined by our Chief Executive Officer, Haviv Ilan, and our Chief Financial Officer, Rafael Lizardi. For any of you who missed the release, you can find it on our website at ti.com/ir. This call is being broadcast live over the web and can be accessed through our website. In addition, today's call is being recorded and will be available via replay on our website. This call will include forward-looking statements that involve risks and uncertainties that could cause TI's results to differ materially from management's current expectations. We encourage you to review the notice regarding forward-looking statements contained in the earnings release published today as well as TI's most recent SEC filings for a more complete description. Today, we'll provide the following updates. First, Haviv will start with a quick overview of the quarter. Next, he will provide insight into first quarter revenue results with some details on what we're seeing with respect to our end markets. Lastly, Rafael will cover the financial results, give an update on capital management as well as share the guidance for second quarter of 2026. With that, let me turn it over to Haviv. Haviv Ilan: Thanks, Mike. Before I go into the results, I want to highlight that in the first quarter, we announced an agreement for TI to acquire Silicon Labs. This transaction enhance

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