Management remarks
Call period: 2026 Q3 · 2026-08-18
Guidance: Neil Dougherty: For the fourth quarter of 2026, we expect revenue in the range of $1.930 billion to $1.950 billion, representing 37% year-over-year growth at the midpoint.Demand and orders: Neil Dougherty: Orders of $2.091 billion were up 56% on a reported basis. Acquisitions represented 5 percentage points of growth and currency was a 1 percentage point headwind.Margins: Neil Dougherty: Operating margin was 33.2%, up 820 basis points year-over-year, and exceeded our long-term target range of 31% to 32%.Analyst Q&A
Analyst Matthew Niknam asked: Congrats on the results. Just 2, if I could. First, on the 4Q revenue guide. So it's implied to only increase about 5% sequentially. I know that's pretty normal in terms of seasonality, but your book-to-bill has been north of 1.1 for 2 straight quarters. So I'm wondering if you can speak to any sort of supply constraints that are inhibiting or limiting that revenue guide for the fourth quarter? Management Satish Dhanasekaran answered: Maybe I'll take the 2027 commentary, Neil, and then you could cover the remaining. It's a great question. Look, we have no doubt a strong setup as we enter fiscal '27, even as we remain cognizant of the outperformance you're seeing in 2026 on top of the growth year in '25. Supply chain will remain the governor of near-term revenue.管理层陈述
电话会期间：2026 Q3 · 2026-08-18
指引：尼尔·多尔蒂表示，我们预计2026年第四季度营收区间为19.30亿美元至19.50亿美元，中点同比增长率为37%。需求与订单：尼尔·多尔蒂表示，订单额为20.91亿美元，按报告口径同比增长56%。收购贡献了5个百分点的增长，汇率则带来1个百分点的逆风。利润率：尼尔·多尔蒂表示，营业利润率为33.2%，同比增加820个基点，超出我们31%至32%的长期目标区间。分析师问答
分析师马修·尼克南提问：恭喜本次业绩。首先关于第四季度营收指引，其环比增幅仅约5%，尽管这在季节性中较为正常，但你们的订单出货比已连续两个季度高于1.1，请问是否存在供应限制影响了第四季度的营收指引？ 管理层萨蒂什·达纳塞卡兰回答：这是个好问题。我们认为进入2027财年的前景非常强劲，尽管2026年在2025年增长之年的基础上表现超预期，但供应链仍将是近期营收的制约因素。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
