Microchip Technology Incorporated (MCHP) reported first-quarter fiscal 2027 non-GAAP earnings of 76 cents per share on August 8, 2026, a 181.5% increase year over year and surpassing the Zacks Consensus Estimate by 8.6%. The company posted net sales of $1.485 billion, marking a 38% rise and exceeding the $1.448 billion consensus by 2.5%.
Key drivers included improving demand, inventory normalization, and enhanced factory utilization, with inventory days decreasing from 185 to 175. The company experienced strong bookings, and its book-to-bill ratio remained well above 1. Geographically, Asia led with $769.5 million in revenue, followed by the Americas at $430.8 million and Europe at $284.4 million.
Looking ahead, Microchip expects net sales for the second quarter of fiscal 2027 to range between $1.589 billion and $1.618 billion, projecting a 7-9% sequential growth and approximately 40.6% year-over-year growth. The company also anticipates non-GAAP earnings between 91-95 cents per share and gross margins of 66-67% for the upcoming quarter.
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