MCHP · 8-K · 20260806PR000037
Income Tax Rate Changes
MICROCHIP TECHNOLOGY INC · 2026-08-06 · Importance 50 · Surprise 46 · In source text
GAAP income tax expense increased to $60.1 million from $2.8 million in the prior-year quarter. The reported GAAP tax rate was 20.7%, compared with a negative 17.7% rate in the year-ago quarter, when pretax income was a loss. Non-GAAP tax expense was $35.6 million, producing a 7.5% non-GAAP tax rate versus 11.3% a year earlier. The non-GAAP tax adjustment was a $24.5 million reduction to reported tax expense in the June 2026 quarter.
Key facts
- Second quarter fiscal 2027 GAAP income tax provision guidance: $75.3 to $96.5 million; Non-GAAP income tax provision guidance: $42.2 to $44.3 million (represents expected cash tax rate for fiscal 2027, excluding transition tax payments). source
- GAAP income tax provision for the quarter ended June 30, 2026: $60.1 million, representing an income tax rate of 20.7%. source
- Non-GAAP income tax provision for the quarter ended June 30, 2026: $35.6 million, with a non-GAAP income tax rate of 7.5%. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | committed | -4.9% | Second quarter fiscal 2027 GAAP income tax provision guidance: $75.3 to $96.5 million; Non-GAAP income tax provision guidance: $42.2 to… |
| net_income | negative | committed | -2.5% | Second quarter fiscal 2027 GAAP income tax provision guidance: $75.3 to $96.5 million; Non-GAAP income tax provision guidance: $42.2 to… |
| net_income | negative | realized | — | GAAP income tax provision for the quarter ended June 30, 2026: $60.1 million, representing an income tax rate of 20.7%. |