Analog Devices, Inc. (ADI) Earnings Call Transcripts

Analog Devices, Inc.'s Latest Earnings Call - September 22, 2026

In the September 22, 2026 earnings call, Analog Devices, Inc. (ADI) reported a robust quarter with anticipated revenue growth of 41% year-over-year, signaling a strong recovery from previous downturns. The company highlighted a significant increase in demand across key sectors, particularly aerospace and defense, automated test equipment, and data centers, which collectively represent about 30% of their business. Management expressed confidence in sustaining double-digit growth into fiscal 2027, supported by a strong design win pipeline and a disciplined approach to capital deployment.

Reported metrics

Guidance from management

Management expects to sustain double-digit growth into fiscal 2027, driven by strong demand across key sectors and a robust design win pipeline. They maintained their free cash flow margin target of 34% to 40%.

What management said

Yes. I said we had -- and an early signal for this is we've been talking about since we continue to see really strong results from a design win perspective. And if you look at the growth in '25 in design wins and '26, that's another good indicator for where we'll head medium term. So -- and -- in addition to our end markets, the other thing that has happened is we've seen growth return in all of our geographies. So i...

So I'll go backwards. I don't do any mid-quarter updates on our bookings, and I also don't guide to Q1. However, you are 100% correct. Typically for us, Q1 is a down market. But what I will say, and I think I might have said this on the my Q&A on the earnings call is with what we see today, I do expect that we can deliver an above seasonal Q1.

What analysts pressed on

Analysts expressed concerns regarding the potential for further pricing actions due to ongoing inflationary pressures in the supply chain. There were also questions about the timing of inventory replenishment cycles and how this might affect future revenue growth.

Main topics on the call

• Revenue Growth Acceleration — Analog Devices anticipates a remarkable 41% year-over-year revenue growth this quarter, marking a significant recovery from a previous decline of 34%. CFO Rich Puccio noted, "We feel very good with the demand signals we'...
• Aerospace and Defense Growth — The Aerospace and Defense segment has shown substantial growth, nearing a $2 billion annualized run rate, driven by increased government spending and demand for advanced technologies. Puccio stated, "We feel very strongl...
• Automated Test Equipment (ATE) Demand — The ATE business is also performing well, with an annualized run rate of approximately $1 billion, benefiting from the complexity of new high-speed memory architectures. Puccio mentioned, "Each generation of more complex...
• Design Win Pipeline — Management reported that the design win pipeline is on track to exceed growth rates seen in fiscal 2025, particularly in data center and aerospace and defense sectors. Puccio remarked, "Design wins will be up over the le...

Read the full Analog Devices, Inc. transcript (September 22, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 87 Analog Devices, Inc. earnings call transcripts on record, spanning January 7, 2020 to September 22, 2026. Based on this history, Analog Devices, Inc. reports quarterly. The most recent call on file is dated September 22, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ADI

Exchange

NasdaqGS

Country

US

Sector

Information Technology

Industry

Semiconductors and Semiconductor Equipment

Calls on record

87

First call

January 7, 2020

Most recent

September 22, 2026

Reporting cadence

quarterly