11.02.22
NXP Semiconductors N.V. reported financial results for the third quarter, ended Oct. 2, 2022.
“NXP delivered quarterly revenue of $3.45 billion, an increase of 20% year-on-year and above the mid-point of our guidance range. Overall, in the third quarter, we performed very well; however, we were impacted by the weakening macro-environment in our consumer-exposed IoT business. At the same time, demand in both the automotive and industrial markets continues to be resilient, driven by secular and company-specific drivers, along with incrementally improved supply. Looking ahead, while we continue to be supply constrained, we are cautious in the intermediate term, due to the uncertainties in the macro environment," said Kurt Sievers, NXP president and CEO.
Key highlights for the third quarter 2022:
• Revenue was $3.45 billion, up 20.4% year-on-year.
• GAAP gross margin was 57.1%, and GAAP operating margin was 29.1%.
• Non-GAAP gross margin was 58.0%, and non-GAAP operating margin was 36.9%.
• Cash flow from operations was $1,144 million, with net capex investments of $281 million, resulting in non-GAAP free cash flow of $863 million.
• During the third quarter of 2022, NXP repurchased 2.5 million shares for a total cost of $400 million and paid cash dividends of $223 million, returning $623 million to shareholders. On a trailing twelve-month basis capital return to shareholders represented $2,448 billion or 98% of non-GAAP free cash flow.
“NXP delivered quarterly revenue of $3.45 billion, an increase of 20% year-on-year and above the mid-point of our guidance range. Overall, in the third quarter, we performed very well; however, we were impacted by the weakening macro-environment in our consumer-exposed IoT business. At the same time, demand in both the automotive and industrial markets continues to be resilient, driven by secular and company-specific drivers, along with incrementally improved supply. Looking ahead, while we continue to be supply constrained, we are cautious in the intermediate term, due to the uncertainties in the macro environment," said Kurt Sievers, NXP president and CEO.
Key highlights for the third quarter 2022:
• Revenue was $3.45 billion, up 20.4% year-on-year.
• GAAP gross margin was 57.1%, and GAAP operating margin was 29.1%.
• Non-GAAP gross margin was 58.0%, and non-GAAP operating margin was 36.9%.
• Cash flow from operations was $1,144 million, with net capex investments of $281 million, resulting in non-GAAP free cash flow of $863 million.
• During the third quarter of 2022, NXP repurchased 2.5 million shares for a total cost of $400 million and paid cash dividends of $223 million, returning $623 million to shareholders. On a trailing twelve-month basis capital return to shareholders represented $2,448 billion or 98% of non-GAAP free cash flow.