STMicroelectronics Reports 2019 Third Quarter Financial Results

PR No: C2923C

STMicroelectronics Reports 2019 Third Quarter Financial Results

  • Q3 net revenues $2.55 billion; gross margin 37.9%; operating margin 13.1%; net income $302 million
  • YTD net revenues $6.80 billion; gross margin 38.4%; operating margin 10.9%; net income $640 million
  • Business outlook at mid-point: Q4 net revenues up about 5.0% Q/Q and gross margin of about 38.2%

Geneva, October 24, 2019 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the third quarter ended September 28, 2019. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported third quarter net revenues of $2.55 billion, gross margin of 37.9%, operating margin of 13.1%, and net income of $302 million or $0.34 diluted earnings per share.

Jean-Marc Chery, STMicroelectronics President & CEO, commented:

  • “Third quarter net revenues grew 17.5% sequentially, above the mid-point of our guidance of 15.3%, driven by engaged customer programs and new products in, as expected, a soft legacy automotive and industrial market.
  • “Our third quarter operating margin was 13.1% and we returned to positive free cash flow while investing in key programs for our growth over the mid-term.
  • “ST’s fourth quarter outlook, at the mid-point, is for net revenues to grow sequentially about 5.0%, translating into year-over-year growth of about 1.2%; gross margin is expected to be about 38.2%, including about 120 basis points of unsaturation charges.
  • “For the full year 2019, we expect net revenues at the mid-point to be about $9.48 billion, accompanied by a double-digit operating margin performance.”

Quarterly Financial Summary (U.S. GAAP)

(US$ m, except per share data) Q3 2019 Q2 2019 Q3 2018 Q/Q Y/Y
Net Revenues $2,553 $2,173 $2,522 17.5% 1.2%
Gross Profit $967 $830 $1,003 16.4% (3.6) %
Gross Margin 37.9% 38.2% 39.8% (30) bps (190) bps
Operating Income $336 $196 $398 70.8% (15.6) %
Operating Margin 13.1% 9.0% 15.8% 410 bps (270) bps
Net Income $302 $160 $369 88.5% (18.3) %
Diluted Earnings Per Share $0.34 $0.18 $0.41 88.9% (17.1) %

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13  Next Page »
Featured Video
Jobs
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Senior Principal Software Engineer for Autodesk at San Francisco, California
Principal Engineer for Autodesk at San Francisco, California
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Upcoming Events
World Architecture Festival 2024 at Marina Bay Sands Singapore - Nov 6 - 8, 2024
Dimensions User Conference 2024 at The Venetian Resort Las Vegas NV - Nov 11 - 13, 2024
Greenbuild 2024 at Pennsylvania Convention Center Philadelphia PA - Nov 12 - 15, 2024
Digital Construction North (DCN) 2024 at Manchester Central. Manchester United Kingdom - Nov 13, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise