ADI Q4 revenue down 16% YoY to $2.7B; record FY revenue $12.3B; expects H1 inventory digestion

ANALOG DEVICES INC

2023-FY EPS reported $6.55 revenue$12,305,539,000

Q4 revenue $2.7B (-16% YoY); diluted EPS $1.00 (-45%); adjusted EPS $2.01 (-26%).
FY2023 revenue $12.3B (record, +2% YoY); diluted EPS $6.55 (+25%); adjusted EPS $10.09 (+5%).
Record revenue driven by Industrial & Automotive segments; Q4 Automotive double-digit growth.
Operating cash flow $4.8B; free cash flow $3.6B; returned $4.6B to shareholders ($3B buybacks, $1.7B dividends).
CEO expects customer inventory digestion to persist into first half of fiscal 2024.

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 0.7

ANALOG DEVICES INC reported its fourth quarter and fiscal year ended October 28, 2023 results: revenue $ 2,716.

Period: its fourth quarter and fiscal year ended October 28, 2023
Revenue: $ 2,716
Result: reported results

Exact text from the filing

(1) (in millions, except per-share amounts and percentages) Three Months Ended Twelve Months Ended Oct. 28, 2023 Oct. 29, 2022 Change Oct. 28, 2023 Oct. 29, 2022 Change Revenue $ 2,716 $ 3,248 (16) % $ 12,306 $ 12,014 2 % Gross margin $ 1,647 $ 2,143 (23) % $ 7,877 $ 7,532 5 % Gross margin percentage 60.6 % 66.0 % (540 bps) 64.0 % 62.7 % 130 bps Operating income

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ANALOG DEVICES INC filing history →

Source: SEC EDGAR

accession 0000006281-23-000200

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