Power Integrations (POWI) Q1 2026 Earnings
Reported May 7, 2026 at 4:08 PM ET · SEC Source
Q1 26 EPS
$0.25
BEAT +10.96%
Est. $0.23
Q1 26 Revenue
$108.3M
BEAT +1.51%
Est. $106.7M
vs S&P Since Q1 26
+2.0%
BEATING MARKET
POWI +3.0% vs S&P +1.0%
Market Reaction
Did POWI Beat Earnings? Q1 2026 Results
Power Integrations opened fiscal 2026 on a quietly constructive note, posting first-quarter revenue of $108.31 million, up 2.6% year-over-year, and non-GAAP EPS of $0.25, ahead of the $0.23 consensus estimate by roughly 11%. The headline story was th… Read more Power Integrations opened fiscal 2026 on a quietly constructive note, posting first-quarter revenue of $108.31 million, up 2.6% year-over-year, and non-GAAP EPS of $0.25, ahead of the $0.23 consensus estimate by roughly 11%. The headline story was the industrial segment, which surged 23% year-over-year to represent 41% of the revenue mix, up from 34% a year ago, with renewable energy, battery storage, and home automation all contributing to the gain. That strength helped offset GAAP earnings pressure from $6.57 million in restructuring charges tied to workforce reductions, which compressed GAAP operating income to just $1.45 million and pushed GAAP EPS to $0.06 from $0.15 a year ago. Non-GAAP gross margin also narrowed to 53.5% from 55.9%, a sign that margin recovery remains a work in progress. Management guided Q2 revenue to $115 million to $120 million, with non-GAAP operating margin expected to improve meaningfully to 13.5% to 15.5% as restructuring charges roll off, even as tariff uncertainty and geopolitical risk cloud the demand outlook.
Key Takeaways
- • Industrial revenue grew 23% year-over-year, driven by renewable energy, battery storage, home automation, and automotive applications
- • Industrial mix rose to 41% of revenue from 34% a year ago
- • Revenue up 5% sequentially and 3% year-over-year
POWI Forward Guidance & Outlook
For Q2 2026, Power Integrations expects revenue of $115 million to $120 million. GAAP gross margin is forecast at 53.5% to 54.5%, with non-GAAP gross margin of 54% to 55%. GAAP operating expenses are expected between $55 million and $56 million, and non-GAAP operating expenses between $46.5 million and $47.5 million. GAAP operating margin is expected at 5.5% to 7.5%, and non-GAAP operating margin at 13.5% to 15.5%. The company highlighted risks from escalating tariffs and geopolitical uncertainty that could reduce demand or pressure pricing.
POWI YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“Q1 was a good quarter for Power Integrations as we saw improved market demand while remaining focused on delivering innovative solutions based on our customers' needs. Our industrial revenue grew 23 percent year-over-year driven by a breadth of applications including renewable energy, battery storage, home automation and automotive.”
— Jen Lloyd, Q1 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
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| 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% |