Keysight Technologies Inc. · NYSE:KEYS
Keysight Technologies — Q3 2026 Earnings Presentation
21 slides from Keysight Technologies's earnings presentation, Aug 18, 2026
Slide 1: Keysight Technologies Q3 Fiscal Year 2026 Results
Keysight Technologies Q3 Fiscal Year 2026 Results August 18, 2026
Slide 2: Safe Harbor
Safe Harbor This communication contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created therein. Statements preceded by, followed by, or that
Slide 3: Key Takeaways
Key Takeaways Delivering Record Strong and Diverse Executing on Long- Creating Shareholder Results - Q3'26 Portfolio Enabling Growth Term Strategy Value • $2B+ orders • Customers investing to • Results reflect • Raising FY26 solve complex engineering execution of strategy expectations • Record reven
Slide 4: Q3'26 Highlights
Q3’26 Highlights • Record revenue of $1.846B, +36% y/y (+31% core1) • Earnings per share2 of $3.07, +79% y/y Record Q3 results exceeded high 1 end of guidance range • Robust growth in Communications Solutions (CSG) (+43%) and Electronic Industrial Solutions (EISG) (+21%) • Gross margin2 of 69.0% (+5
Slide 5: Q3'26 Non-GAAP Financial Highlights
Q3’26 Non-GAAP Financial Highlights Orders Revenue Operating Margin EPS $2.091B $1.846B 33.2% $3.07 +56% y/y (+52% core*) +36% y/y (+31% core*) +820 basis points y/y +79% y/y * Core excludes the impact of currency, acquisitions or divestitures closed in last twelve months; reconciliations included.
Slide 6: Revenue by Segment & by Region
Revenue by Segment & by Region Q3'26 Revenue: $1.846B 6
Slide 7: Revenue Trend by Region
Revenue Trend by Region +29% y/y (+20% core*) +41% y/y (+32% core*) +42% y/y (+41% core*) * Core excludes the impact of currency, acquisitions or divestitures closed in last twelve months; reconciliations included. 7
Slide 8: Q3'26 Communications Solutions Group Highlights
Q3’26 Communications Solutions Group Highlights Revenue $1,345M • Gross margin of 70.8% +43% y/y (+36% core1) • Commercial Communications: Record revenue driven by the rapid scaling of the AI infrastructure ecosystem and investment in next-generation connectivity. Operating Margin • Aerospace, Defen
Slide 9: Q3'26 Electronic Industrial Solutions Group Highlights
Q3’26 Electronic Industrial Solutions Group Highlights Revenue • General Electronics: Growth led by AI-related innovation and infrastructure $501M investments in multi-layer PCBs and capacitors, supporting next-gen compute. +21% y/y (+18% core1) • Semiconductor: Growth fueled by ongoing capacity exp
Slide 10: Q3'26 Revenue By End Market
Q3’26 Revenue By End Market End Market Revenue YoY % Commercial $1,006M +56% Communications Aerospace, Defense & $339M +14% Government Electronic Industrial $501M +21% Solutions Total $1,846M +36% 10
Slide 11: Guidance and Financial Considerations
Guidance and Financial Considerations Q4'26 Guidance Implied FY26 Revenue $1.930B – $1.950B $7.103B Y/Y growth at the midpoint 37% 32% Non-GAAP Earnings per share $3.34 – $3.40 $11.48 Y/Y growth at the midpoint 76% 60% Q4'26 Financial Assumptions • Interest Income, Interest Expense and Other Income/
Slide 12: Reconciliations
WW KEYSIGHT Reconciliations
Slide 13: Reconciliation of Core Revenue
RECONCILIATION OF CORE REVENUE (In millions) (Unaudited) PRELIMINARY Three months ended Nine months ended July 31, July 31, Percent Percent 2026 2025 Inc/(Dec) 2026 2025 Inc/(Dec) Revenue $ 1,846 $ 1,352 36% $ 5,163 $ 3,956 31% Adjustments: Revenue from acquisitions or divestitures (84) — (275) — Cu
Slide 14: Reconciliations of Core Revenue by Segment and Region
RECONCILIATIONS OF CORE REVENUE BY SEGMENT AND REGION (In millions) (Unaudited) PRELIMINARY Year-over-Year Revenue from acquisitions or Currency Revenue divestitures impacts Core revenue YoY % YoY % Revenue by segment Q3'26 Q3'25 Chg. Q3'26 Q3'26 Q3'26 Q3'25 Chg. Communications Solutions Group $ 1,3
Slide 15: Revenue by End Markets
REVENUE BY END MARKETS (In millions) (Unaudited) PRELIMINARY Percent Q3'26 Q3'25 Inc/(Dec) Aerospace, Defense and Government $ 339 $ 296 14% Commercial Communications 1,006 644 56% Electronic Industrial 501 412 21% Total Revenue $ 1,846 $ 1,352 36% Please refer to the last slide for details on the u
Slide 16: Gross Margin Reconciliation
GROSS MARGIN RECONCILIATION (In millions, except percentages) (Unaudited) PRELIMINARY Three months ended Nine months ended July 31, July 31, 2026 2025 2026 2025 Gross profit, as reported $ 1,216 $ 834 $ 3,389 $ 2,468 Amortization of acquisition-related balances 50 19 150 58 Share-based compensation
Slide 17: Operating Margin Reconciliation
OPERATING MARGIN RECONCILIATION (In millions, except percentages) (Unaudited) PRELIMINARY Three months ended Nine months ended July 31, July 31, 2026 2025 2026 2025 Income from operations, as reported $ 461 $ 234 $ 1,116 $ 659 Amortization of acquisition-related balances 72 33 218 100 Share-based co
Slide 18: Core Operating Margin Reconciliation
CORE OPERATING MARGIN RECONCILIATION (In millions, except percentages) (Unaudited) PRELIMINARY Three months ended July 31, 2026 2025 Non-GAAP income from operations $ 613 $ 338 Adjustments: Operating profit from acquisitions or divestitures (5) — Currency impacts 6 — Core Income from operations $ 61
Slide 19: Net Income and Diluted EPS Reconciliation
NET INCOME AND DILUTED EPS RECONCILIATION (In millions, except per share data) (Unaudited) PRELIMINARY Three months ended Nine months ended July 31, July 31, 2026 2025 2026 2025 Net Diluted Net Diluted Net Diluted Net Diluted Income EPS Income EPS Income EPS Income EPS GAAP Net income $ 397 $ 2.30 $
Slide 20: Free Cash Flow
FREE CASH FLOW (In millions) (Unaudited) PRELIMINARY Three months ended Nine months ended July 31, July 31, 2026 2025 2026 2025 Net cash provided by operating activities $ 437 $ 322 $ 1,379 $ 1,184 Adjustments: Investments in property, plant and equipment (34) (31) (97) (90) Free cash flow $ 403 $ 2
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures Our financial results are prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”). To provide investors with additional insight, management uses both GAAP and non-GAAP financial measures to analyze and assess the overall performance of th
Keysight Technologies — Q3 2026 Earnings Presentation on 6ix