Loading...
•
Jul 29, 2023
Analog Devices Q3 2023 Earnings Report
ADI executed well and delivered third quarter results within expectations, but customer inventory adjustments accelerated as economic conditions deteriorated.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...