Analog Devices Q4: 16% Revenue Decline With Industrial Slump And Automotive Gain
Portfolio Pulse from Anusuya Lahiri
Analog Devices, Inc (NASDAQ:ADI) reported a 16% year-on-year decline in Q4 FY23 revenue to $2.72 billion, slightly above consensus estimates. Adjusted EPS was $2.01, just above the $2.00 consensus. Industrial revenue fell by 20.4%, while Automotive revenue grew by 13.8%. Communications and Consumer revenues also saw declines. The company experienced a decrease in adjusted gross and operating margins. Analog Devices announced a quarterly cash dividend of $0.86 per share. The company's outlook for Q1 revenue and adjusted EPS is below consensus estimates. ADI shares saw a slight increase of 0.14% to $184.08.
November 21, 2023 | 3:34 pm
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NEUTRAL IMPACT
Analog Devices reported a revenue decline but beat EPS estimates in Q4. Declared a dividend, but provided a cautious Q1 outlook.
While ADI's revenue decline is a negative signal, the EPS beat and dividend declaration are positive. The cautious Q1 outlook may temper investor enthusiasm, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100