Analog Devices, Inc (NASDAQ:ADI) stock traded higher Tuesday after the company reported fiscal fourth-quarter results.
The company's revenue declined 10% year-on-year to $2.44 billion, beating the analyst consensus estimate of $2.40 billion. Adjusted EPS of $1.67 beat the analyst consensus estimate of $1.64.
Analog Devices' Industrial revenue declined by 21% Y/Y to $1.07 billion. Automotive revenue decreased 2% Y/Y to $716.96 million.
Communications revenue declined by 18% to $275.57 million, and Consumer revenue increased by 31% to $379.69 million.
The adjusted gross margin declined by 230 bps to 67.9% as lower revenue weighed on the profits. The adjusted operating margin fell by 360 bps to 41.1%.
Analog Devices held $2.36 billion in cash and equivalents as of November 2, 2024, generating $1.05 billion in operating cash flow.
According to CEO and Chair Vincent Roche, Analog Devices reported revenue, profitability, and earnings per share exceeding its midpoint guidance, reflecting strong business momentum and effective execution. Despite unprecedented inventory challenges leading to a historic revenue decline in fiscal 2024, the company maintained operating margins above 40%, showcasing the resilience of its business model.
Analog Devices' quarterly cash dividend of $0.92 per outstanding share of common stock will be paid on December 20 to all shareholders of record at the close of business on December 9.
CFO Richard Puccio noted a rebound in bookings during the fourth quarter, especially in the Automotive segment, following a temporary decline in the third quarter. While macroeconomic uncertainties continue to temper recovery, Analog Devices remains cautiously optimistic about achieving significant growth in fiscal 2025.
Outlook: Analog Devices expects fiscal first-quarter 2025 revenue of $2.35 billion, +/- $100 million, versus the consensus of $2.34 billion. The company projects adjusted EPS of $1.53, +/-$0.10, against the consensus of $1.56.
Price Action: ADI stock traded higher by 5.47% at $235.80 premarket at the last check Tuesday.
Analog Devices, Inc（纳斯达克股票代码：ADI）周二股价上涨，此前该公司公布了第四财季业绩。
该公司的收入同比下降10％，至24.4亿美元，超过了分析师共识估计的24.0亿美元。调整后的每股收益为1.67美元，超过了分析师普遍预期的1.64美元。
ADI公司的工业收入同比下降21％，至10.7亿美元。汽车收入同比下降2％，至7.1696亿美元。
通信收入下降了18％，至2.757亿美元，消费者收入增长了31％，至3.7969亿美元。
由于收入减少打压了利润，调整后的毛利率下降了230个基点至67.9％。调整后的营业利润率下降了360个基点至41.1％。
截至2024年11月2日，ADI公司持有23.6亿美元的现金及等价物，创造了10.5亿美元的运营现金流。
首席执行官兼董事长文森特·罗氏表示，ADI公司公布的收入、盈利能力和每股收益均超过了中点预期，这反映了强劲的业务势头和有效的执行力。尽管前所未有的库存挑战导致2024财年收入出现历史性下降，但该公司的营业利润率仍保持在40％以上，这表明了其商业模式的弹性。
ADI公司的季度现金股息为每股已发行普通股0.92美元，将于12月20日支付给12月9日营业结束时登记在册的所有股东。
首席财务官理查德·普西奥指出，继第三季度暂时下降之后，第四季度的预订量有所反弹，尤其是汽车板块。尽管宏观经济的不确定性继续抑制复苏，但ADI公司对2025财年实现显著增长仍持谨慎乐观态度。
展望：ADI公司预计，2025财年第一季度收入为23.5亿美元，+/-1亿美元，而市场预期为23.4亿美元。该公司预计调整后的每股收益为1.53美元，+/-0.10美元，而市场普遍预期为1.56美元。
价格走势：ADI股票在周二的最后一次盘前交易中上涨5.47％，至235.80美元。
