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ADI · Q3 2026

ANALOG DEVICES INC

Reported 2026-08-19
BEAT
51EarnIQ signal
↗

Confidence rising

Mild quarter-over-quarter shift

Exceptional revenue growth and a strong Q4 outlook confirm ADI is successfully capitalizing on AI-era demand.

  • ✓Guidance was none, with high specificity.
  • ✓Management tone registered as confident (90/100).
  • ✓EarnIQ detected 0 potential management deflections.
Headline–confidence gap

Headline confirmed

Management confidence reinforces the reported beat.

EPS: reported vs expected+2.4%$3.45 vs $3.37
Revenue: reported vs expected+1.6%$4.0B vs $4.0B
Guidance specificityHighChange not comparable
Market expectations supplied by Finnhub · Reported vs consensus estimate

ADI delivered a strong third quarter, exceeding the midpoint of our revenue, margin, and earnings outlook as we capitalized on broad-based demand.

Premium intelligence

The evidence behind the signal

Full report
Management language

Why confidence moved

“ADI delivered a strong third quarter, exceeding the midpoint of our revenue, margin, and earnings outlook as we capitalized on broad-based demand”
“Demand continued to strengthen across our product portfolio and regions throughout the third quarter, which is reflected in our record fourth quarter outlook”
“We believe our balance of disciplined execution and targeted growth investments will enable us to finish the year strongly and carry that momentum into fiscal 2027.”
Guidance specificity
90/100

High specificity

For the fourth quarter of fiscal 2026, forecasted revenue of $4.3 billion (+/- $100 million) with reported EPS of $3.14 and adjusted EPS of $3.86.

Pressure point
!

Macroeconomic or regional demand shifts

0 potential deflections detected in management communication.

Narrative break

What changed

Emphasized targeted growth investments and manufacturing agility to capture value specifically in the AI era.

Q&A evidence

Management responses

No material Q&A deflections were detected.

Key positives
  • Record third quarter financial results with revenue reaching $4.02 billion, up 40% year-over-year.
  • Strong cash generation with trailing twelve-month operating cash flow of $5.5 billion and free cash flow of $4.9 billion.
  • Strong fourth quarter fiscal 2026 outlook projecting revenue of $4.3 billion and adjusted EPS of $3.86.
Key risks
  • Macroeconomic or regional demand shifts impacting broad-based portfolio strength.
  • Potential supply chain or manufacturing agility constraints amid strengthening order flows.
  • Execution risks related to targeted growth investments and integration of acquired entities like Empower Semiconductor.
Topic velocity

Language versus prior quarter

M&ANew
CostNew
ChinaNew
MarginNew
RecordNew
iPhoneNew
Signal composition

What drove the EarnIQ score

Tone+20
Eps Beat+0
Guidance+15
New Signal+8
Miss Penalty+0
Qoq Improvement+8
Deflection Penalty+0