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Apr 04, 2021
NXP Q1 2021 Earnings Report
NXP reported first quarter revenue of $2.6 billion, up 27 percent year-on-year. Positive product mix and increased revenue helped deliver excellent operating profit in excess of guidance.
Key Takeaways
NXP Semiconductors reported strong first-quarter results with revenue of $2.6 billion, a 27% increase year-over-year. The company exceeded its guidance due to positive product mix and increased revenue, leading to excellent operating profit. NXP is optimistic about continued robust growth throughout 2021, driven by long-term demand trends in its end markets.
First-quarter revenue was $2.6 billion, up 27.0 percent year-on-year.
First-quarter GAAP gross margin was 52.8 percent, and GAAP operating margin was 19.2 percent.
First-quarter non-GAAP gross margin was 54.2 percent, and non-GAAP operating margin was 30.9 percent.
In the first quarter of 2021 NXP returned $1.0 billion to shareholders through previously announced share repurchases and dividend payments.
Revenue by Segment
Forward Guidance
NXP provided guidance for the second quarter of 2021, with revenue expected to be in the range of $2.50 billion to $2.64 billion. GAAP gross profit is projected to be between $1.346 billion and $1.439 billion, while GAAP operating income is expected to be between $506 million and $579 million.
Positive Outlook
- Total Revenue: $2,500 to $2,640 million, indicating a 38% to 45% year-over-year increase.
- Gross Profit: $1,346 to $1,439 million
- Gross Margin: 53.8% to 54.5%
- Operating Income: $506 to $579 million
- Operating Margin: 20.2% to 21.9%
Challenges Ahead
- Financial Income (expense): $(90) million
- GAAP Gross Profit is expected to include Purchase Price Accounting (“PPA”) effects, $(18) million; Stock Based Compensation, $(12) million; Other Incidentals, $(5) million
- GAAP Operating Income (loss) is expected to include PPA effects, $(159) million; Stock Based Compensation, $(92) million; Restructuring and Other Incidentals, $(11) million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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