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Dec 31, 2024
GlobalFoundries Q4 2024 Earnings Report
Key Takeaways
GlobalFoundries reported Q4 2024 revenue of $1.83 billion, a 1% decrease year-over-year. The company recorded a net loss of $729 million due to a $935 million impairment charge but achieved a non-IFRS net income of $256 million. Operating income showed a loss of $701 million, while non-IFRS operating profit reached $285 million. Free cash flow was $328 million, and cash and cash equivalents stood at $2.192 billion.
Forward Guidance
GlobalFoundries expects Q1 2025 revenue between $1.55 billion and $1.6 billion, with gross margin at approximately 22.1% (Non-GAAP: 23.0%). Operating profit is projected between $94 million and $167 million. The company remains optimistic about future growth in AI, automotive, and aerospace chip demand.
Positive Outlook
- Strong design win momentum across end markets.
- Expansion in AI, automotive, and aerospace segments.
- New advanced packaging and test capabilities in Malta, NY.
- Strategic partnerships to enhance smart card technology.
- Integration of photonics in AI interconnect solutions.
Challenges Ahead
- Revenue projected to decline sequentially in Q1 2025.
- Lower gross margin guidance compared to Q4 2024.
- Operating profit expected to decline in the next quarter.
- Continued industry headwinds affecting semiconductor demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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