Texas Instruments Incorporated Earnings Recaps
Q3 2026
Oct 24, 2026
TI’s shares fell 1.8% after earnings, a roughly flat reaction. Revenue grew across major end markets, while fourth-quarter guidance calls for revenue of $5.8 billion to $6.3 billion and EPS of $2.45 to $2.79; the transcript does not identify a specific source of disappointment.
Key takeaways
- Third-quarter revenue was $6.1 billion, up 11% sequentially and 28% year over year. Analog grew 32% year over year and embedded processing 21%; the other segment declined 6%.
- Growth was broad-based: industrial revenue rose more than 40% year over year, automotive grew in the mid-teens, and data center increased about 95%. Personal electronics was roughly flat year over year.
- Gross margin was 64%, up 280 basis points sequentially; operating profit was $2.9 billion, or 47% of revenue. Management attributed the margin increase primarily to higher revenue, with additional benefit from pricing, product and end-market mix.
- Net income was $2.4 billion, or $2.62 per share, including a $0.01 reduction from discrete tax items not in the original guidance.
- Trailing-12-month free cash flow was $8.4 billion, including $1.6 billion of CHIPS Act incentives. Inventory was $4.7 billion, up $67 million sequentially, while inventory days fell by two to 194.
Q2 2026
Jul 24, 2026
Texas Instruments shares fell 2.2% after reporting second-quarter results as market enthusiasm was tempered by a cautious outlook despite solid top-line growth and margin improvement.
Key takeaways
- Q2 revenue grew 23% year-over-year to $5.5 billion, driven by strong gains in Analog (+26% YoY) and Embedded Processing (+16% YoY).
- End markets showed broad strength: industrial revenue up ~30% YoY, automotive mid-teens YoY growth with signs of acceleration, and data center doubling YoY.
- Gross margin improved significantly, rising 340 basis points sequentially to 61%, contributing to operating profit margin of 42%.
- Free cash flow remains robust at $6.5 billion on a trailing 12-month basis, supported by $1.6 billion in CHIPS Act incentives.
- Management provided guidance for Q3 revenue between $5.65 billion and $6.15 billion with EPS of $2.23 to $2.57, indicating confidence but also signaling moderation relative to the strong Q2 growth phase.
Q3 2025
Oct 22, 2025
Texas Instruments reported strong Q3 2025 performance with revenue of $4.7 billion, reflecting a 14% year-over-year increase, driven by growth across key segments, particularly industrial and automotive.
Key takeaways
- Analog revenue grew 16% YoY while embedded processing increased by 9%.
- Gross profit margin remained robust at 57%, though it decreased slightly by 50 basis points sequentially.
- Significant cash generation with $2.2 billion in operating cash flow; $6.6 billion returned to shareholders over the past year.
- Fourth quarter revenue guidance projected between $4.22 billion and $4.58 billion, with EPS expected between $1.13 and $1.39.
- Texas Instruments maintains a strong balance sheet with $5.2 billion in cash and a commitment to disciplined capital allocation.