v3.26.1
Revenues
6 Months Ended
Jun. 29, 2026
Revenue from Contract with Customer [Abstract]  
Revenues

(2) Revenues

For contracts in which anticipated total costs exceed the total expected revenue, an estimated loss is recognized in the period when identifiable. A provision for the entire amount of the estimated loss is recorded on a cumulative basis. The estimated remaining costs to complete for loss contracts as of June 29, 2026 and December 29, 2025 were $20,954 and $33,163, respectively.

As of June 29, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations for long‑term contracts was $425,149. The Company expects to recognize revenue on approximately 61% of the remaining performance obligations for the Company’s long-term contracts over the next 12 months with the remaining amount expected to be recognized thereafter. The remaining performance obligations for the Company’s short‑term contracts are expected to be recognized within one year, and the Company is applying the optional permitted exemption to forgo disclosing the amount of transaction price allocated to the remaining performance obligations for contracts with an expected duration of one year or less.

Revenue recognized for the two quarters ended June 29, 2026 from amounts recorded as contract liabilities as of December 29, 2025 was $68,944. Revenue recognized for the two quarters ended June 30, 2025 from amounts recorded as contract liabilities as of December 30, 2024 was $54,970.

Revenue from products and services transferred to customers over time and at a point in time accounted for 96% and 4%, respectively, of the Company's revenue for the quarter and two quarters ended June 29, 2026, and 97% and 3%, respectively, of the Company's revenue for the quarter and two quarters ended June 30, 2025.

Disaggregated revenue by principal end markets within reportable segments was as follows:

 

 

 

For the Quarter Ended

 

 

 

June 29, 2026

 

 

June 30, 2025

 

 

 

A&D

 

 

Commercial

 

 

Total

 

 

A&D

 

 

Commercial

 

 

Total

 

 

 

(In thousands)

 

End Markets (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace and Defense

 

$

371,165

 

 

$

 

 

$

371,165

 

 

$

325,092

 

 

$

 

 

$

325,092

 

Automotive

 

 

 

 

 

79,465

 

 

 

79,465

 

 

 

 

 

 

81,424

 

 

 

81,424

 

Data Center and Networking

 

 

9,779

 

 

 

395,565

 

 

 

405,344

 

 

 

9,039

 

 

 

203,486

 

 

 

212,525

 

Medical, Industrial, and Instrumentation

 

 

1,687

 

 

 

146,393

 

 

 

148,080

 

 

 

1,009

 

 

 

110,571

 

 

 

111,580

 

Total

 

$

382,631

 

 

$

621,423

 

 

$

1,004,054

 

 

$

335,140

 

 

$

395,481

 

 

$

730,621

 

 

 

 

For the Two Quarters Ended

 

 

 

June 29, 2026

 

 

June 30, 2025

 

 

 

A&D

 

 

Commercial

 

 

Total

 

 

A&D

 

 

Commercial

 

 

Total

 

 

 

(In thousands)

 

End Markets (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace and Defense

 

$

712,722

 

 

$

 

 

$

712,722

 

 

$

632,510

 

 

$

 

 

$

632,510

 

Automotive

 

 

 

 

 

149,235

 

 

 

149,235

 

 

 

 

 

 

152,778

 

 

 

152,778

 

Data Center and Networking

 

 

18,442

 

 

 

688,649

 

 

 

707,091

 

 

 

16,950

 

 

 

383,025

 

 

 

399,975

 

Medical, Industrial, and Instrumentation

 

 

2,653

 

 

 

278,329

 

 

 

280,982

 

 

 

1,918

 

 

 

192,108

 

 

 

194,026

 

Total

 

$

733,817

 

 

$

1,116,213

 

 

$

1,850,030

 

 

$

651,378

 

 

$

727,911

 

 

$

1,379,289

 

 

(1)
The end market revenue for the quarter and two quarters ended June 30, 2025 has been recast to reflect certain adjustments to allocations resulting from the segment reorganization that occurred during the quarter ended March 30, 2026 as well as the combination of the data center computing and networking end markets. The end market revenue excludes intersegment sales totaling $301 and $1,032 for the quarter and two quarters ended June 29, 2026, respectively, and $186 and $473 for the quarter and two quarters ended June 30, 2025, respectively. See Note 4, Segment Information, for further information.