secwatch.observer — SEC 8-K summary
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Issuer:     ANALOG DEVICES INC (ADI)
CIK:        0000006281
Form:       8-K
Filed at:   2023-08-23T23:59:59+00:00
Accession:  0000006281-23-000177
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6281/000000628123000177/0000006281-23-000177-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6281/000000628123000177/adi-20230823.htm
  HTML page:      https://secwatch.observer/filing/0000006281-23-000177

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer