Q1 2026 Texas Instruments Inc Earnings Call Transcript
Key Points
- Texas Instruments Inc (TXN) reported a strong revenue growth of 19% year-over-year, reaching $4.8 billion in the first quarter.
- The company announced an acquisition agreement with Silicon Labs, enhancing its global leadership in embedded wireless connectivity.
- Industrial revenue increased more than 30% year-on-year, showing broad growth across all sectors and regions.
- Data center revenue grew about 90% year-on-year, indicating strong demand and market position.
- Free cash flow on a trailing 12-month basis was $4.4 billion, significantly up from $1.7 billion in the first quarter of 2025.
- The 'Other' segment of Texas Instruments Inc (TXN) declined by 16% from the year-ago quarter.
- Automotive revenue was flat sequentially, with China showing a decline, raising concerns about market stability.
- Operating expenses were $974 million, maintaining a high level relative to revenue.
- Total debt outstanding is $14 billion, with a weighted average coupon of 4%, indicating significant financial obligations.
- The semiconductor market recovery is ongoing, but macroeconomic uncertainties and geopolitical tensions could impact future growth.
Welcome to the Texas Instruments first quarter 2026 earnings conference call. I'm Mike Beckman, Head of Investor Relations, and I'm joined by our Chief Executive Officer, Haviv Ilan; and our Chief Financial Officer, Rafael Lizardi. For any of you who missed the release, you can find it on our website at ti.com/ir. This call is being broadcast live over the web and can be accessed through our website. In addition, today's call is being recorded and will be available via replay on our website.
This call will include forward-looking statements that involve risks and uncertainties that could cause TI's results to differ materially from management's current expectations. We encourage you to review the notice regarding forward-looking statements contained in the earnings release published today, as well as TI's most recent SEC filings for a more complete description.
Today, we'll provide the following updates. First, Haviv will start with a quick overview of the quarter. Next, he will provide insight into first
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