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.
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