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Dec 31, 2021
MagnaChip Q4 2021 Earnings Report
MagnaChip reported a decrease in revenue due to supply shortages, but delivered higher profitability.
Key Takeaways
MagnaChip's Q4 2021 revenue was $110.3 million, a decrease of 22.8% year-over-year, primarily due to supply shortages. GAAP EPS was $1.12 and non-GAAP EPS was $0.31. Despite revenue challenges, profitability improved due to product mix and pricing.
Q4 revenue was $110.3 million, down 22.8% year-over-year due to supply shortages.
GAAP gross profit margin was 35.0%, up 810 bps year-over-year.
GAAP diluted EPS was $1.12 for the fourth quarter.
Non-GAAP diluted EPS was $0.31 for the fourth quarter.
Forward Guidance
For Q1 2022, MagnaChip anticipates revenue between $102 million and $108 million, including $9 million from Transitional Fab 3 Foundry Services, with a gross profit margin between 34.5% and 36.5%.
Positive Outlook
- Revenue to be in the range of $102 million to $108 million.
- Transitional Fab 3 Foundry Services contributing about $9 million.
- Gross profit margin to be in the range of 34.5% to 36.5%.
- Q1 2022 is expected to be the bottom.
- Near-term outlook is still being challenged by persisting supply constraints.
Challenges Ahead
- Near-term outlook is still being challenged by persisting supply constraints especially for 28nm 12” wafers.
- Actual results may vary.
- Next quarter typically presents seasonal softness.
- The impact of the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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