Q2 26 EPS Adjusted
$0.37
BEAT +15.81%
Est. $0.32
Q2 26 Revenue
$118.9M
BEAT +1.28%
Est. $117.4M
vs S&P Since Q2 26
-1.5%
TRAILING MARKET
POWI -1.0% vs S&P +0.5%
Market Reaction
Did POWI Beat Earnings? Q2 2026 Results
Power Integrations delivered a strong second quarter, beating Wall Street on both the top and bottom lines and extending its consensus EPS beat streak to four consecutive quarters. The Santa Clara-based semiconductor company reported Q2 2026 revenue … Read more Power Integrations delivered a strong second quarter, beating Wall Street on both the top and bottom lines and extending its consensus EPS beat streak to four consecutive quarters. The Santa Clara-based semiconductor company reported Q2 2026 revenue of $118.94 million, up 2.7% year over year and ahead of the $117.44 million consensus estimate, while adjusted EPS of $0.37 cleared the $0.32 consensus by 15.81%. The clearest driver behind the outperformance was a meaningful shift in end-market mix, with industrial applications climbing to 43% of revenue as demand in renewable energy and grid infrastructure accelerated, providing a more profitable revenue base that helped lift non-GAAP operating margin to 17.1% from 15.6% a year ago. Management pointed to growing interest in AI data center power solutions as an additional tailwind, underpinned by the company's newly announced 2200 V PowiGaN technology. Looking ahead, Power Integrations guided Q3 revenue between $122 million and $130 million, with non-GAAP operating margin expected to improve further into a 17% to 19% range.
Key Takeaways
- • Continued growth in industrial markets (43% of Q2 revenue, up from 41% in Q1 and 40% in Q2 2025)
- • 10% sequential revenue increase driven by broad-based demand recovery
- • Improved GAAP and non-GAAP operating margins
- • Lower inventories in distribution channel and on balance sheet
POWI Forward Guidance & Outlook
For Q3 2026, Power Integrations expects revenue in a range of $122 million to $130 million. GAAP gross margin is expected between 53.3% and 54.4%, and non-GAAP gross margin between 54% and 55%. GAAP operating expenses are expected between $55 million and $56 million, and non-GAAP operating expenses between $45 million and $46 million. GAAP operating margin is expected between 8.3% and 10.9%, and non-GAAP operating margin between 17% and 19%.
POWI YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
“We delivered strong second-quarter results, highlighted by continued growth in industrial markets, improved profitability, and lower inventories in the distribution channel and on our balance sheet. The demand drivers behind our business remain compelling, as investment in renewable energy, grid infrastructure and AI data centers drives customer demand for higher efficiency, reliability and power density. Our new 2200 V PowiGaN™ technology extends our capabilities in high-voltage GaN and positions us to support customer roadmaps in these markets over the long term.”
— Jen Lloyd, Q2 2026 Earnings Press Release
POWI Earnings Trends
POWI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
POWI EPS Trend
Earnings per share: estimate vs actual
POWI Revenue Trend
Quarterly revenue: estimate vs actual
POWI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.32 | $0.37 | +15.81% | $118.9M | +1.28% |
| Q1 26 BEAT | $0.23 | $0.25 | +10.96% | $108.3M | +1.51% |
| Q4 25 BEAT FY | $0.19 | $0.23 | +19.48% | $103.2M | +0.18% |
| FY Full Year | — | $1.25 | — | $443.5M | — |
| Q3 25 BEAT | $0.35 | $0.36 | +3.99% | $118.9M | +0.48% |
| Q2 25 BEAT | $0.35 | $0.35 | +1.42% | $115.9M | +0.73% |