ADI Q3 revenue $3.08B (-1% YoY); guides Q4 revenue $2.7B midpoint, inventory headwind continues

ANALOG DEVICES INC

2023-Q3 EPS reported $5.55 revenue$9,589,055,000

Revenue $3.076B, down 1% YoY; GAAP EPS $1.74 (+21% YoY), adjusted EPS $2.49 (-1% YoY).
Q3 adjusted operating margin 47.8% vs 50.1% a year ago; gross margin 63.8% (down 190 bps).
Customer inventory adjustments accelerated due to deteriorating economic conditions (CEO comment).
Q4 guidance: revenue $2.7B midpoint, adjusted EPS $2.00, adjusted operating margin ~44.0%.
Free cash flow $818M in Q3, trailing 12 mo $3.69B; returned $1.12B to shareholders in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ANALOG DEVICES INC reported fiscal third quarter ended July 29, 2023 results: revenue $3.08 billion, EPS $1.74.

Period: fiscal third quarter ended July 29, 2023
Revenue: $3.08 billion
EPS: $1.74
Result: reported results

Exact text from the filing

Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. --- EX-99.1 (EX-99.1) --- Analog Devices Reports Third Quarter Fiscal 2023 Financial Results • Revenue of $3.08 billion with continued year-over-year growth in Industrial & Automotive • Operating cash flow of $4.8 billion and free cash flow of $3.7 billion on a trailing twelve-month basis •

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ANALOG DEVICES INC reported fourth quarter of fiscal 2023 results: revenue $2.70 billion, +/- $100 million, EPS $1.19, +/-$0.10. Guidance initiated.

Period: fourth quarter of fiscal 2023
Revenue: $2.70 billion, +/- $100 million
EPS: $1.19, +/-$0.10
Guidance: initiated
Result: guidance update

Exact text from the filing

For the fourth quarter of fiscal 2023, we are forecasting revenue of $2.70 billion, +/- $100 million.

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

ANALOG DEVICES INC filing history →

Source: SEC EDGAR

accession 0000006281-23-000177

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