Keysight Technologies Inc

Latest Results (29.08.2026):

Keysight Technologies, Inc. reported results for the second fiscal quarter of 2026 (quarter ended April 30, 2026), delivering a record quarter with raised full-year expectations: orders topped $2.05 billion, revenue was $1.72 billion (up ~31% YoY), GAAP net income was $349 million ($2.02 diluted EPS), and non-GAAP net income was $497 million ($2.87 non‑GAAP diluted EPS). The company reported strong cash generation and raised its outlook for fiscal 2026.

Revenue & Orders

Q2 FY2026 revenue: $1.717 billion (31% year-over-year growth). Orders: $2.051 billion, a record for the company and up materially from $1.316 billion a year earlier.

Earnings (GAAP and Non‑GAAP)

GAAP net income: $349 million, diluted EPS $2.02 (vs. $257M / $1.49 in Q2 FY2025). Non‑GAAP net income: $497 million, non‑GAAP diluted EPS $2.87 (vs. $295M / $1.70 in Q2 FY2025).

Cash Flow & Liquidity

Cash flow from operations in the quarter: $501 million; free cash flow: $472 million. Cash, cash equivalents and restricted cash totaled $2.43 billion as of April 30, 2026.

Segment Performance

Communications Solutions Group (CSG) revenue: $1,231 million, up 35% YoY (commercial communications +40%, aerospace/defense/government +24%). Electronic Industrial Solutions Group (EISG) revenue: $486 million, up 24% YoY with broad double‑digit growth across automotive & energy, general electronics, and semiconductor.

IEEPA Tariff Refunds & Accounting Impact

Recorded a $100 million receivable related to IEEPA tariff refunds (with offsets of $93M to cost of sales, $4M to SG&A, $3M to interest income) and a $40 million liability for customer surcharge refunds, which reduced revenue.

Outlook

Q3 FY2026 revenue guidance: $1.73B–$1.75B (midpoint ≈ 29% YoY growth). Q3 non‑GAAP EPS guidance: $2.43–$2.49 (based on ~173 million diluted shares). No GAAP reconciliation provided for the EPS outlook.

Balance Sheet & Capital Deployment

Total assets $11.74B; total liabilities $5.41B; stockholders’ equity $6.33B. In the first six months the company repurchased $310M of treasury stock and continues share‑based compensation and capital investment while maintaining strong cash balances.