Microchip Technology Inc. (NASDAQ: MCHP), a provider of connected and secure embedded control solutions, has updated its sales and earnings guidance for the third quarter of fiscal 2026.
The company expects net sales and earnings per share to be at the high end of its previously issued guidanceIt now sees a sequential growth of roughly 1% that exceeds the midpoint of the prior guidanceYear-over-year, the revised third quarter revenue guidance represents 12% growthThe company now expects unadjusted earnings per share to be around $0.02 in the third quarterAs per the revised outlook, adjusted earnings are expected to be about $0.40 per share, currentlyBookings activity has remained strong through November, with backlog filling in better than expected in the current quarter
