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Feb 03, 2024
Analog Devices Q1 2024 Earnings Report
Analog Devices reported Q1 2024 financial results, exceeding revenue and profitability expectations despite a challenging macroeconomic environment.
Key Takeaways
Analog Devices reported Q1 2024 revenue of $2.513 billion and diluted EPS of $0.93. The company's performance exceeded the midpoint of its outlook, with continued growth in the Automotive sector. They returned over $600 million to shareholders through dividends and repurchases and raised the quarterly dividend by 7%.
Revenue exceeded $2.5 billion with growth in the Automotive sector.
Operating cash flow was $4.6 billion and free cash flow was $3.2 billion on a trailing twelve-month basis.
Over $600 million was returned to shareholders through dividends and repurchases in the first quarter.
The quarterly dividend was raised by 7%, marking the twentieth consecutive year of increase.
Revenue by Segment
Forward Guidance
For the second quarter of fiscal 2024, the company forecasts revenue of $2.10 billion, +/- $100 million. They expect a reported operating margin of approximately 15.1%, +/-200 bps, and adjusted operating margin of approximately 37.0%, +/-100 bps. The company is planning for reported EPS to be $0.46, +/-$0.10, and adjusted EPS to be $1.26, +/-$0.10.
Positive Outlook
- Revenue forecast of $2.10 billion, +/- $100 million.
- Adjusted operating margin of approximately 37.0%, +/-100 bps.
- Adjusted EPS to be $1.26, +/-$0.10.
Challenges Ahead
- Reported operating margin of approximately 15.1%, +/-200 bps.
- Reported EPS to be $0.46, +/-$0.10.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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