05.02.23
NXP Semiconductors N.V. reported financial results for the first quarter ended April 2, 2023.
“NXP delivered quarterly revenue of $3.12 billion, with all our focus end-markets performing better than anticipated, which resulted in total company revenue above the high end of guidance. Solid first-quarter results, guidance for the second quarter, and our early views into the second half of the year underpin a cautious optimism that NXP is successfully navigating through the cyclical downturn in our consumer-exposed businesses, while we see continued strength in our automotive and core-industrial businesses,” said Kurt Sievers, NXP president and CEO.
Key Highlights for the First Quarter 2023:
• Revenue was $3.12 billion, down 0.5% year-on-year.
• GAAP gross margin was 56.7%, GAAP operating margin was 26.4% and GAAP diluted net income per share was $2.35.
• Non-GAAP gross margin was 58.2%, non-GAAP operating margin was 34.8%, and non-GAAP diluted net income per share was $3.19.
• Cash flow from operations was $632 million, with net capex investments of $251 million, resulting in non-GAAP free cash flow of $381 million.
• During the first quarter of 2023, NXP paid cash dividends of $219 million. The interim dividend for the first quarter 2023 was paid in cash on April 5, 2023 to shareholders of record as of March 15, 2023.
• On Feb. 17, 2023, NXP was named one of the Top 100 Global Innovators 2023 by Clarivate for the sixth time. The award identifies organizations at the pinnacle of the global innovation landscape by measuring excellence focused on exceptional consistency and scale in innovativeness.
“NXP delivered quarterly revenue of $3.12 billion, with all our focus end-markets performing better than anticipated, which resulted in total company revenue above the high end of guidance. Solid first-quarter results, guidance for the second quarter, and our early views into the second half of the year underpin a cautious optimism that NXP is successfully navigating through the cyclical downturn in our consumer-exposed businesses, while we see continued strength in our automotive and core-industrial businesses,” said Kurt Sievers, NXP president and CEO.
Key Highlights for the First Quarter 2023:
• Revenue was $3.12 billion, down 0.5% year-on-year.
• GAAP gross margin was 56.7%, GAAP operating margin was 26.4% and GAAP diluted net income per share was $2.35.
• Non-GAAP gross margin was 58.2%, non-GAAP operating margin was 34.8%, and non-GAAP diluted net income per share was $3.19.
• Cash flow from operations was $632 million, with net capex investments of $251 million, resulting in non-GAAP free cash flow of $381 million.
• During the first quarter of 2023, NXP paid cash dividends of $219 million. The interim dividend for the first quarter 2023 was paid in cash on April 5, 2023 to shareholders of record as of March 15, 2023.
• On Feb. 17, 2023, NXP was named one of the Top 100 Global Innovators 2023 by Clarivate for the sixth time. The award identifies organizations at the pinnacle of the global innovation landscape by measuring excellence focused on exceptional consistency and scale in innovativeness.