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Analog Devices(ADI) - 2025 Q1 - Quarterly Results
ADIAnalog Devices(ADI)2025-02-19 12:11

Revenue Performance - Revenue for the first quarter of fiscal 2025 was 2.423billion,adecreaseof42.423 billion, a decrease of 4% year-over-year from 2.513 billion[5] - Revenue for the three months ended February 1, 2025, was 2,423,174,adecreaseof42,423,174, a decrease of 4% compared to 2,512,704 for the same period in 2024[24] - Reported revenue for the three months ending May 3, 2025, was 2.5billion,withanadjustmentrangeof+/−2.5 billion, with an adjustment range of +/- 100 million[36] Profitability Metrics - Gross margin was 1.430billion,withagrossmarginpercentageof59.01.430 billion, with a gross margin percentage of 59.0%, up 30 basis points from 58.7% in the prior year[5] - Operating income decreased by 16% to 491 million, resulting in an operating margin of 20.3%, down 300 basis points year-over-year[5] - Net income decreased to 391,316,resultingindilutedearningspershareof391,316, resulting in diluted earnings per share of 0.78, down from 0.93inthepreviousyear[24]−Operatingmarginreportedat24.20.93 in the previous year[24] - Operating margin reported at 24.2%, with an adjusted margin of 40.5%, including 406 million of acquisition-related expenses[36] Earnings Per Share - Diluted earnings per share (EPS) for the quarter was 0.78,adeclineof160.78, a decline of 16% compared to 0.93 in the same quarter last year[5] - Adjusted diluted EPS for the second quarter is projected to be 1.68,withamarginoferrorof+/−1.68, with a margin of error of +/- 0.10[7] - Earnings per share reported at 0.97,withanadjustedEPSof0.97, with an adjusted EPS of 1.68, reflecting 0.71fromacquisition−relatedadjustments[36][37]CashFlowandDividends−Operatingcashflowforthetrailingtwelvemonthswas0.71 from acquisition-related adjustments[36][37] Cash Flow and Dividends - Operating cash flow for the trailing twelve months was 3.8 billion, with free cash flow of 3.2billion[4]−FreecashflowforthethreemonthsendedFebruary1,2025,was3.2 billion[4] - Free cash flow for the three months ended February 1, 2025, was 977,831, representing 40% of revenue[34] - The company raised its quarterly dividend by 8% to 0.99,markingthe21stconsecutiveyearofincreases[4]ShareholderReturns−Thecompanyincreaseditssharerepurchaseauthorizationby0.99, marking the 21st consecutive year of increases[4] Shareholder Returns - The company increased its share repurchase authorization by 10 billion, bringing the total remaining authorization to approximately 11.5billion[4]SectorPerformance−Bookingsshowedgradualimprovement,particularlyintheIndustrialandAutomotivesectors,positioningthecompanyforsequentialandyear−over−yeargrowth[3]−Thecompanyreporteda1011.5 billion[4] Sector Performance - Bookings showed gradual improvement, particularly in the Industrial and Automotive sectors, positioning the company for sequential and year-over-year growth[3] - The company reported a 10% decline in revenue from the industrial sector, which accounted for 44% of total revenue[31] - The automotive sector revenue decreased by 2%, maintaining a 30% share of total revenue[31] Expenses and Assets - Operating expenses totaled 938,990, which is 38.8% of revenue, up from 35.3% in the same period last year[33] - Cash and cash equivalents increased to 2,349,994from2,349,994 from 1,991,342 at the end of the previous quarter[28] - Total current assets rose to 5,733,076,comparedto5,733,076, compared to 5,484,654 in the prior quarter[26] - The company made payments for acquisitions totaling 45,652duringthequarter[28]TaxandNonoperatingExpenses−Nonoperatingexpenseswereapproximately45,652 during the quarter[28] Tax and Nonoperating Expenses - Nonoperating expenses were approximately 60 million, consistent across reported and adjusted figures[36] - Tax rate maintained between 11% and 13%, including $53 million of tax effects from acquisition-related adjustments[37]