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Applied Materials
🇺🇸 NASDAQ:AMAT
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•
Jan 30, 2022

Applied Materials Q1 2022 Earnings Report

Applied Materials reported record quarterly revenue and increased profitability, driven by strong demand and strategic positioning.

Key Takeaways

Applied Materials announced record quarterly revenue of $6.27 billion, a 21% increase year-over-year. GAAP EPS was $2.00, up 64% year-over-year, and non-GAAP EPS was $1.89, up 36% year-over-year. The company generated $2.66 billion in cash from operations and returned $2.02 billion to shareholders through share repurchases and dividends.

Record quarterly revenue of $6.27 billion, up 21% year-over-year.

GAAP operating margin of 31.5% and non-GAAP operating margin of 31.7%, increased by 6.6 points and 2.7 points year-over-year, respectively.

GAAP EPS of $2.00 and non-GAAP EPS of $1.89, up 64% and 36% year-over-year, respectively.

Generated $2.66 billion in cash from operations and returned $2.02 billion to shareholders.

Total Revenue
$6.27B
Previous year: $5.16B
+21.5%
EPS
$1.89
Previous year: $1.39
+36.0%
Gross Margin
47.2%
Previous year: 45.5%
+3.7%
Operating Margin
31.5%
Previous year: 24.9%
+26.5%
Non-GAAP Gross Margin
47.3%
Previous year: 45.9%
+3.1%
Gross Profit
$2.96B
Previous year: $2.35B
+26.0%
Cash and Equivalents
$5.26B
Previous year: $6.21B
-15.3%
Free Cash Flow
$2.66B
Previous year: $1.3B
+104.5%
Total Assets
$25.4B
Previous year: $23.3B
+9.1%

Applied Materials

Applied Materials

Applied Materials Revenue by Segment

Applied Materials Revenue by Geographic Location

Forward Guidance

For the second quarter of fiscal 2022, Applied expects net sales to be approximately $6.35 billion, plus or minus $300 million. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.75 to $2.05.

Positive Outlook

  • Net sales are expected to be approximately $6.35 billion, plus or minus $300 million.
  • Non-GAAP adjusted diluted EPS is expected to be in the range of $1.75 to $2.05.
  • Includes the normalized tax benefit of share-based compensation of $0.01 per share
  • Includes a net income tax benefit related to intra-entity intangible asset transfers of $0.02 per share
  • Reflects strong demand and strategic positioning

Challenges Ahead

  • Includes the expected impact of ongoing supply chain challenges.
  • Excludes known charges related to completed acquisitions of $0.01 per share.
  • Does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items
  • Does not include other tax related items
  • Uncertainty due to inherent difficulty in predicting future events.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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