diff --git a/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot.inc b/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot.inc
index 941f86c..248e13f 100644
--- a/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot.inc
+++ b/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot.inc
@@ -3,15 +3,13 @@
 
 SRC_URI += "git://github.com/open-power/skiboot.git;nobranch=1"
 SRC_URI += "file://0001-external-Use-more-standard-PREFIX-vs-prefix.patch"
-SRC_URI += "file://0002-external-Utilize-DESTDIR-in-shared-makefile.patch"
-SRC_URI += "file://0003-gard-Fix-Makefile-race-condition.patch"
 
 FILESEXTRAPATHS_append := "${THISDIR}/skiboot:"
 
 LIC_FILES_CHKSUM = "file://${S}/LICENCE;md5=3b83ef96387f14655fc854ddc3c6bd57"
 
-SRCREV = "skiboot-5.3.5"
-PV = "5.3.5"
+SRCREV = "skiboot-5.4.0-rc3"
+PV = "5.4.0-rc3"
 
 S = "${WORKDIR}/git"
 
diff --git a/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot/0002-external-Utilize-DESTDIR-in-shared-makefile.patch b/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot/0002-external-Utilize-DESTDIR-in-shared-makefile.patch
deleted file mode 100644
index 89ee54a..0000000
--- a/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot/0002-external-Utilize-DESTDIR-in-shared-makefile.patch
+++ /dev/null
@@ -1,39 +0,0 @@
-From 6c5cf9f87a9047bc56ccd8b6096b8ec4a6af96ab Mon Sep 17 00:00:00 2001
-From: Patrick Williams <patrick@stwcx.xyz>
-Date: Fri, 5 Aug 2016 16:53:21 -0500
-Subject: [PATCH 2/2] external: Utilize DESTDIR in shared makefile
-
-Signed-off-by: Patrick Williams <patrick@stwcx.xyz>
----
- external/shared/Makefile | 12 ++++++------
- 1 file changed, 6 insertions(+), 6 deletions(-)
-
-diff --git a/external/shared/Makefile b/external/shared/Makefile
-index e0b3ff3..4baa6b4 100644
---- a/external/shared/Makefile
-+++ b/external/shared/Makefile
-@@ -39,15 +39,15 @@ all: links arch_links $(OBJS)
- 	$(CC) -shared -Wl,-soname,libflash.so -o $(SHARED_NAME) $(OBJS)
- 
- install-lib: all
--	install -D -m 0755 $(SHARED_NAME) $(LIBDIR)/$(SHARED_NAME)
--	ln -sf $(SHARED_NAME) $(LIBDIR)/libflash.so
-+	install -D -m 0755 $(SHARED_NAME) $(DESTDIR)$(LIBDIR)/$(SHARED_NAME)
-+	ln -sf $(SHARED_NAME) $(DESTDIR)$(LIBDIR)/libflash.so
- 
- install-dev: links arch_links
--	mkdir -p $(INCDIR)
--	install -m 0644 $(LIBFLASH_H) $(ARCHFLASH_H) $(INCDIR)
-+	mkdir -p $(DESTDIR)$(INCDIR)
-+	install -m 0644 $(LIBFLASH_H) $(ARCHFLASH_H) $(DESTDIR)$(INCDIR)
- 
- install: install-lib install-dev
- 
- uninstall:
--	rm -f $(LIBDIR)/libflash*
--	rm -rf $(INCDIR)
-+	rm -f $(DESTDIR)$(LIBDIR)/libflash*
-+	rm -rf $(DESTDIR)$(INCDIR)
--- 
-2.9.0
-
diff --git a/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot/0003-gard-Fix-Makefile-race-condition.patch b/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot/0003-gard-Fix-Makefile-race-condition.patch
deleted file mode 100644
index 703874e..0000000
--- a/meta-openbmc-machines/meta-openpower/common/recipes-bsp/skiboot/skiboot/0003-gard-Fix-Makefile-race-condition.patch
+++ /dev/null
@@ -1,43 +0,0 @@
-From 7355feb27c79c406cc57e03da29e8f7a28f38c7e Mon Sep 17 00:00:00 2001
-From: Patrick Williams <patrick@stwcx.xyz>
-Date: Fri, 16 Sep 2016 15:41:02 -0500
-Subject: [PATCH] gard: Fix Makefile race condition
-
-Commit fd599965 added some dependencies in 'external/pflash'
-for libflash files that are created via symlink.  Replicate
-that same behavior in 'external/gard' to prevent race conditions
-where we attempt to compile files from libflash before they are
-symlink'd.
-
-Signed-off-by: Patrick Williams <patrick@stwcx.xyz>
----
- external/gard/rules.mk | 6 +++++-
- 1 file changed, 5 insertions(+), 1 deletion(-)
-
-diff --git a/external/gard/rules.mk b/external/gard/rules.mk
-index dfe93d5..3a7f6d9 100644
---- a/external/gard/rules.mk
-+++ b/external/gard/rules.mk
-@@ -2,7 +2,9 @@
- 
- override CFLAGS += -O2 -Wall -Werror -I.
- OBJS      = version.o gard.o
--LIBFLASH_OBJS     += libflash-file.o libflash-libflash.o libflash-libffs.o libflash-ecc.o libflash-blocklevel.o
-+LIBFLASH_FILES    := libflash.c libffs.c ecc.c blocklevel.c file.c
-+LIBFLASH_OBJS     := $(addprefix libflash-, $(LIBFLASH_FILES:.c=.o))
-+LIBFLASH_SRC      := $(addprefix libflash/,$(LIBFLASH_FILES))
- OBJS     += $(LIBFLASH_OBJS)
- OBJS     += common-arch_flash.o
- EXE       = gard
-@@ -24,6 +26,8 @@ version.c: make_version.sh .version
- %.o : %.c
- 	$(CC) $(CFLAGS) -c $< -o $@
- 
-+$(LIBFLASH_SRC): | links
-+
- $(LIBFLASH_OBJS): libflash-%.o : libflash/%.c
- 	$(CC) $(CFLAGS) -c $< -o $@
- 
--- 
-2.7.3
-
diff --git a/meta-phosphor/classes/skeleton-rev.bbclass b/meta-phosphor/classes/skeleton-rev.bbclass
index abc56b3..82b3f0a 100644
--- a/meta-phosphor/classes/skeleton-rev.bbclass
+++ b/meta-phosphor/classes/skeleton-rev.bbclass
@@ -1,2 +1,2 @@
-SRCREV ?= "29eaf4d4143056d271ee65f1c6126c533b87a49d"
+SRCREV ?= "ead1c62dca8f8237ad3a898ca0af4d48e3855ff2"
 SKELETON_URI ?= "git://github.com/openbmc/skeleton"