Analog Devices, Inc. reported fiscal first quarter 2026 results for the period ended January 31, 2026, posting revenue of $3.16 billion with year-over-year growth across all end markets, led by Industrial and Communications.
On a trailing twelve-month basis, the company generated operating cash flow of $5.1 billion and free cash flow of $4.6 billion, representing 43% and 39% of revenue, respectively.
During the first quarter, Analog Devices returned $1.0 billion to shareholders through dividends and share repurchases. The company also increased its quarterly dividend by 11% to $1.10 per share, marking its twenty-second consecutive year of dividend increases.
CEO and Chair Vincent Roche said the company’s first-quarter performance built on strong momentum entering the year, attributing results to sustained innovation and continued investment in R&D and customer experience. CFO Richard Puccio noted that bookings growth continued during the quarter, driven by broad strength in Industrial markets and record orders in the Data Center segment. Despite ongoing macroeconomic and geopolitical uncertainty, he said the company’s second-quarter outlook reflects a new high watermark for ADI.
For the second quarter of fiscal 2026, Analog Devices expects:
- Revenue of $3.5 billion, ± $100 million
- Reported operating margin of approximately 36.4%, ± 150 basis points
- Adjusted operating margin of approximately 47.5%, ± 100 basis points
- Reported EPS of $2.19, ± $0.15
- Adjusted EPS of $2.88, ± $0.15
The adjusted results are non-GAAP financial measures, with reconciliations provided in the company’s financial tables. The company stated that actual results may differ based on various risk factors and that the outlook supersedes prior forward-looking statements.
Original – Analog Devices