Analog Devices Issues Q1 Outlook - Quick Facts

Analog Devices, Inc. (ADI) said, for the first quarter of fiscal 2023, the company is forecasting revenue of $3.15 billion, +/- $100 million. The company is planning for
reported EPS to be $1.71, +/- $0.10, and adjusted EPS to be $2.60, +/- $0.10. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.41 on revenue of $3.04 billion. Analysts' estimates typically exclude special items.

Fourth quarter earnings were at $936.23 million, or $1.82 per share compared with $75.69 million, or $0.16 per share, prior year. Excluding items, adjusted earnings were $2.73 per share for the period. Analysts on average had expected the company to earn $2.58 per share, according to figures compiled by Thomson Reuters. Revenue for the quarter rose 38.9% to $3.25 billion from $2.34 billion last year.

The ADI Board has declared a quarterly cash dividend of $0.76 per outstanding share of common stock. The dividend will be paid on December 15, 2022 to all shareholders of record at the close of business on December 5, 2022.

Shares of Analog Devices are up 3% in pre-market trade on Tuesday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Domino's Pizza Inc., the largest pizza company in the world, is offering customers 50 percent off all menu-priced pizzas ordered online today through June 11 ahead of summer. The weeklong 50 percent off online deal is available on menu-priced pizzas ordered through Domino's online ordering channels. These include www.dominos.com, Domino's mobile app, Amazon Alexa, Google Home, Facebook Messenger.. J.T.M. Provisions Co. is recalling around 22,530 pounds of frozen, ready-to-eat beef chili with beans products distributed to schools, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recalled ietms may be contaminated with extraneous materials, specifically white plastic. Boeing and NASA announced further delay in the much expected launch of Starliner Crew Flight to the International Space Station following certain emerging issues with the capsule. Boeing has been developing its Starliner spacecraft after winning nearly $5 billion in contracts under NASA's Commercial Crew Program. Starliner's first crewed flight was earlier prepared for an April launch.
Follow RTT