PR No: C3154C
STMicroelectronics Reports Q4 and F Y 202 2 Financial Results
- Q4 net revenues $ 4.42 billion; gross margin 4 7.5 %; operating margin 29 .1 % ; net income $ 1.25 b illion
- FY net revenues $1 6.13 billion; gross margin 47 .3 %; operating margin 27.5 %; net income $ 3.96 b illion
-
Business outlook at mid-point: Q1 net revenues of $
4.2
0
billion and gross margin of
48.0
%
Geneva, January 2 6 , 202 3 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the fourth quarter ended December 31, 2022. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).
ST reported fourth quarter net revenues of $4.42 billion, gross margin of 47.5%, operating margin of 29.1%, and net income of $1.25 billion or $1.32 diluted earnings per share.
Jean-Marc Chery, STMicroelectronics President & CEO, commented:
- “ In Q4, ST delivered revenue s and gross margin above the mid-point of the guidance .
- “ FY22 revenue s increased 26.4% to $16.13 billion, driven by strong demand in automotive and industrial , and our engaged customer programs. Operating margin increased to 27.5% from 19.0% in FY21 and net income almost doubled to $3.96 billion. W e invested $3.52 billion in C APEX while delivering free cash flow of $1.59 billion.
- “ Our first quarter business outlook , at the mid-point , is for net revenues of $ 4.2 0 billion , increasing year-over-year by 1 8.5 % and decreasing sequentially by 5.1 % ; gross margin is expected to be about 48.0 %.
- “ For 2023, we plan to invest about $4.0 billion in CAPEX , mainly to increase our 300mm wafer fab s and silicon carbide manufacturing capacity including our substrate initiative.
-
“
Based on our strong customer demand and increased
manufacturing
capacity,
we will drive the Company based on a plan for FY23 revenues in the range of $
16.8
billion to $
17.8
billion.
”
Quarterly Financial Summary (U.S. GAAP)
| (US$ m, except per share data) | Q 4 202 2 | Q 3 20 2 2 | Q 4 20 2 1 | Q/Q | Y/Y |
| Net Revenues | $4,424 | $4,321 | $3,556 | 2.4 % | 2 4 .4 % |
| Gross Profit | $2,102 | $2,059 | $1,609 | 2.1% | 30.7% |
| Gross Margin | 47.5% | 47.6% | 45.2% | -10 bps | 230 bps |
| Operating Income | $1,287 | $1,272 | $885 | 1.2% | 45.4% |
| Operating Margin | 29.1% | 29.4% | 24.9% | -30 bps | 420 bps |
| Net Income (a) | $1,248 | $1,099 | $750 | 13.5% | 66.4% |
| Diluted Earnings Per Share ( b ) | $ 1. 32 | $ 1.16 | $0.82 | 13.8 % | 61.0 % |
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