Texas Instruments Incorporated Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Texas Instruments Q2 2026 Earnings Summary

Revenue: $5.5 billion, +13% sequentially and +23% year-over-year. Analog revenue +26% YoY; Embedded Processing +16% YoY; Other segment -2% YoY.

End Market Performance (YoY comparisons unless noted)

  • Industrial: +30% YoY, +10% sequentially; broad growth across sectors and regions.
  • Automotive: Mid-teens YoY, upper single digits sequentially; acceleration driven by China, EVs/hybrids, and low customer inventory levels.
  • Data Center: Doubled YoY, +20% sequentially; strong ongoing demand expected to continue.
  • Personal Electronics: Flat YoY, upper single digits sequentially.
  • Communications Equipment: Growth both YoY and sequentially.

Profitability Metrics (vs. Prior Periods)

  • Gross profit: $3.4 billion (61% margin), +340 basis points sequentially.
  • Operating expenses: $1.0 billion (20% of revenue on TTM basis).
  • Operating profit: $2.3 billion (42% of revenue), +48% YoY.
  • Net income: $2.0 billion; EPS $2.14 (included $0.05 discrete tax benefit).

Capital Management & Cash Flow

  • Cash flow from operations: $2.7 billion in quarter; $8.7 billion TTM.
  • Capital expenditures: $514 million in quarter; $3.3 billion TTM.

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Mike Beckman : Welcome to the Texas Instruments Second Quarter 2026 Earnings Conference Call. I'm Mike Beckman, Head of Investor Relations. For any of you who missed the release, you can find it on our website at ti.com/ir. This call is being broadcast live over the web and can be accessed through our website. In addition, today's call is being recorded and will be available via replay on our website. This call will include forward-looking statements that involve risks and uncertainties that could cause TI's results to differ materially from management's current expectations. We encourage you to review the notice regarding forward-looking statements contained in the earnings release published today as well as TI's most recent SEC filings for a more complete description. Today, I'm joined by our Chief Executive Officer, Haviv Ilan; and our Chief Financial Officer, Rafael Lizardi. Also with us today is Julie Knecht, who will become our Chief Financial Officer on August 1. Julie has been with TI for more than 25 years and has held a number of finance and accounting roles, most recently serving as Chief Accounting Officer since 2021. As you know, Rafael, who has been our CFO for nearly a decade, plans to retire at the end of August. Rafael's focus on disciplined capital allocation, including our investments in 300-millimeter manufacturing capacity and commitment to return all free cash flow to shareholders have positioned TI for continued long-term growth and value creation. As t

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