Analog Devices' Adjusted EPS Declines by 37% in Q3 Financial Results
Analog Devices, Inc. [ADI] reported a net profit of $392.2 million for the quarter ending August 3, 2024, marking a significant decrease of 55% from the previous quarter's earnings. This financial outcome was unveiled in the company's fiscal third-quarter 2024 results release.
The company, headquartered in Wilmington, Massachusetts, reported to SEC in an 8-K filing $0.79 earnings per share in the quarter, compared to $1.74 in the previous quarter.
Analog Devices, a prominent player in the semiconductor industry, reported revenue of $2.31 billion in the latest financial results. This figure reflects a 25% decrease compared to the revenue reported in the corresponding previous quarter.
In comparison to the same quarter of the previous year, Analog Devices witnessed a revenue decrease of 25% for the current quarter. Additionally, the company experienced a notable 55% decline in profit for the same quarter year-over-year.
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As of August 20, 2024 end of day trading.
Dollars in millions | May 04, 2024 | Feb 03, 2024 | Oct 28, 2023 | Jul 29, 2023 |
|---|
Income Statement |
| Revenue | $2,159.0 | $2,512.7 | $12,305.5 | $3,076.5 |
| Operating Profit | $386.1 | $586.0 | $3,823.1 | $929.5 |
| Net Income | $302.2 | $462.7 | $3,314.6 | $877.0 |
| Net Cash | $981.6 | $345.5 | -$512.5 | -$321.3 |
| Gross Margin | $1,180.0 | $1,473.9 | $7,877.2 | $1,961.6 |
| Operating Margin | $0.0 | $0.0 | $0.0 | $0.0 |
| Profit as % of Revenues | 54.66 | 58.66 | 64.01 | 63.76 |
| Profit as % of Assets | 0.62 | 0.95 | 6.69 | 1.76 |
| Profit as % of Stockholder Equity | 0.86 | 1.30 | 9.32 | 2.44 |
| Return on Equity | 0.06 | 1.30 | 9.32 | 2.44 |
| Return on Assets | 0.05 | 0.96 | 6.79 | 1.78 |
| Turnover Ratio | 4.42 | 0.05 | 0.25 | 0.06 |
| EBITA | $575.1 | $0.8 | $4.8 | $1.2 |
Balance Sheet |
| Total Assets | $48,861.9 | $48,388.5 | $48,794.5 | $49,346.7 |
| Total Liabilities | $13,613.1 | $12,840.4 | $13,229.4 | $13,443.0 |
Cash Flow Statement |
| Operating Cash Flow | $1,946.7 | $1,138.8 | $4,817.6 | $3,630.3 |
| Investing Cash Flow | -$821.2 | -$219.1 | -$1,266.4 | -$787.3 |
| Financing Cash Flow | -$143.9 | -$574.2 | -$4,063.8 | -$3,164.3 |
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