Analog Devices Q3 2023 Earnings Report
Key Takeaways
Analog Devices reported Q3 2023 revenue of $3.08 billion. Despite a challenging operating environment, the company delivered results within expectations, driven by continued year-over-year growth in the Industrial and Automotive segments. Customer inventory adjustments have accelerated.
Revenue of $3.08 billion with continued year-over-year growth in Industrial & Automotive.
Operating income was $929 million with an operating margin of 30.2%.
Diluted earnings per share was $1.74.
Returned $1.1 billion to shareholders via $0.7 billion in share repurchases and $0.4 billion in dividends during the third quarter.
Analog Devices
Analog Devices
Analog Devices Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal 2023, ADI is forecasting revenue of $2.70 billion, +/- $100 million. At the midpoint of this revenue outlook, the company expects reported operating margin of approximately 26.8%, +/-130 bps, and adjusted operating margin of approximately 44.0%, +/-70 bps. They are planning for reported EPS to be $1.19, +/-$0.10, and adjusted EPS to be $2.00, +/-$0.10.
Revenue & Expenses
Visualization of income flow from segment revenue to net income