PR No: C3085C
STMicroelectronics Reports 202 2 First Quarter Financial Results
- Q 1 net revenues $ 3.55 billion; gross margin 46.7 %; operating margin 24.7 % ; net income $ 747 million
- Q1 free cash flow (1) $ 82 m illion after net capital expenditure payments of $ 840 million
-
Business outlook at
the
mid-point: Q
2
net revenues
of $
3.75
billion and gross margin of
46.0
%
Geneva, April 2 7 , 202 2 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the first quarter ended April 2, 2022. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).
ST reported first quarter net revenues of $3.55 billion, gross margin of 46.7%, operating margin of 24.7%, and net income of $747 million or $0.79 diluted earnings per share.
Jean-Marc Chery, STMicroelectronics President & CEO, commented:
- “ Q1 net revenues of $3.55 billion and gross margin of 46.7% came in above the mid-p oint of our business outlook range . Th is revenue performance , driven by strong demand in m icrocontrollers , was partially offset by temporar il y reduced operations at our Shenzhen , China manufacturing facility due to the pandemic .
- “ On a year-over-year basis, Q1 net revenues increased 17.6%, o perating m argin increased to 24.7% from 14.6% and net income more than doubled to $747 million .
- “ ST’s second quarter outlook, at the mid-point, is for net revenues of $ 3.75 billion, increasing year-over-year by 25.3 % and sequentially by 5. 8 % ; gross margin is expected to be about 46 .0 % .
- “ W e continue to drive the Company based on a plan for FY22 revenues in the range of $14.8 billion to $15.3 billion . ”
Quarterly Financial Summary (U.S. GAAP)
| (US$ m, except per share data) | Q 1 202 2 | Q 4 20 2 1 | Q 1 20 2 1 | Q/Q | Y/Y |
| Net Revenues | $3,546 | $3,556 | $3,016 | -0.3 % | 17.6 % |
| Gross Profit | $1,655 | $1,609 | $1,175 | 2.8% | 40.8% |
| Gross Margin | 46.7% | 45.2% | 39.0% | 150 bps | 770 bps |
| Operating Income | $877 | $885 | $440 | -0.9% | 99.5% |
| Operating Margin | 24.7% | 24.9% | 14.6% | -20 bps | 1010 bps |
| Net Income (a) | $747 | $750 | $364 | -0.4% | 105.1% |
| Diluted Earnings Per Share ( b ) | $0.79 | $0.82 | $0.39 | -3.7 % | 102.6 % |
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