The strong beat and raised guidance confirm accelerating cyclical and secular demand, especially in Industrial (+56% YoY) and Communications (+79% YoY). Expect positive price action on the beat and upward revision. Monitor Q3 conference call for commentary on tariff/macro headwinds.
Price Chart
Executive Summary
ADI reported record Q2 FY2026 revenue of $3.62B (up 37% YoY) and adjusted EPS of $3.09 (up 67% YoY), beating consensus estimates of $3.51B and $2.89 respectively. Guidance for Q3 was raised, with revenue expected at $3.9B (+/- $100M) and adjusted EPS of $3.30 (+/- $0.15), signaling continued strong demand across all end markets.
Key Financial Metrics
Key Facts
- Revenue $3.623B vs consensus $3.51B (beat by 3.2%)
- Adjusted EPS $3.09 vs consensus $2.89 (beat by 6.9%)
- GAAP revenue growth 37% YoY; GAAP EPS $2.40 (+111% YoY)
- Q3 guidance: revenue $3.9B +/- $100M, adjusted EPS $3.30 +/- $0.15
- Record bookings across Industrial, Automotive, and Communications markets
- Operating cash flow $5.1B and free cash flow $4.6B on trailing twelve-month basis
Financial Impact
Revenue beat by ~$110M, EPS beat by $0.20; Q3 guidance midpoint $3.9B represents 7.6% sequential revenue growth
Risk Factors
- Tariff and trade restrictions uncertainty
- Macroeconomic/geopolitical headwinds
- Potential inventory normalization in second half
- Semi cycle sustainability risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000006281-26-000050 |
| Document: adi-20260520.htm | 0000006281-26-000050 |
| Document: 0000006281-26-000050-index-headers.html | 0000006281-26-000050 |
| Document: 0000006281-26-000050-index.html | 0000006281-26-000050 |
| Document: 0000006281-26-000050.txt | 0000006281-26-000050 |
| 8-K Data (Synthetic) | 0000006281-26-000050 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Insider Cluster | $361.25 $362.65 | ▲ +0.39% | ▲ +0.89% | $417.15 (+15.47%) |
Sep 9, 2026 23d ago | Insider Cluster | $361.25 $362.65 | ▲ +0.39% | ▲ +0.89% | $417.15 (+15.47%) |
Sep 9, 2026 23d ago | 8-K | $365.07 $362.04 | ▼ −0.83% | ▼ −0.17% | $417.15 (+14.27%) |
Sep 2, 2026 4w ago | Insider Cluster | $355.42 $361.25 | ▲ +1.64% | ▲ +2.60% | $417.15 (+17.37%) |
Aug 28, 2026 5w ago | Insider Cluster | $361.78 $362.25 | ▲ +0.13% | ▲ +0.02% | $417.15 (+15.30%) |
Aug 19, 2026 6w ago | 8-K | $373.26 $371.80 | ▼ −0.39% | ▼ −0.00% | $417.15 (+11.76%) |
Aug 9, 2026 7w ago | Institutional Cluster | $383.93 $390.28 | ▲ +1.66% | ▲ +1.70% | $417.15 (+8.65%) |
Aug 6, 2026 8w ago | Insider Cluster | $375.81 $380.89 | ▲ +1.35% | ▲ +0.14% | $417.15 (+11.00%) |
Jul 23, 2026 10w ago | Press Release | $371.86 $366.67 | ▲ +1.40% | ▲ +1.77% | $417.15 (−12.18%) |
Jul 14, 2026 11w ago | Insider Cluster | $392.75 $372.46 | ▼ −5.17% | ▼ −3.87% | $417.15 (+6.21%) |
US Market Status
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