Analog Devices (ADI) Tops Q1 EPS by 5c, Revenues Beat; Offers Q2 Revenue Mid-Point Guidance Below Consensus, Q2 EPS Mid-Point Views In-Line with Estimates

Analog Devices (NASDAQ: ADI) reported Q1 EPS of $1.33, $0.05 better than the analyst estimate of $1.28. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.51 billion.

“In what is a challenging macroeconomic environment, the diversity and strong execution of our franchise continued to deliver outstanding financial results for the first quarter,” said Vincent Roche, President and CEO. “Revenue came in at the high-end of our guidancewith continued strength in our communications market related to ongoing 4G upgrades and initial 5G deployments. Further, we returned more than $400 million of cash to our shareholders this quarter through share repurchases, which reduced our overall share count, and dividends.”

“In the near term, we continue to execute soundly despite the uncertain macroenvironment. That said, I have never been more confident or excited about the future of ADI’s franchise. Our ethos of innovation combined with deep customer engagements and our alignment with favorable macro trends positions us to continue to take share, expand our addressable market, and deliver strong returns for our shareholders.”

GUIDANCE:

Analog Devices sees Q2 2019 EPS of $1.30, versus the consensus of $1.30. Analog Devices sees Q2 2019 revenue of $1.5 billion, versus the consensus of $1.52 billion.

• For the second quarter of fiscal 2019, we are forecasting revenue of $1.50 billion, +/- $50 million.
• At the midpoint of this revenue outlook, we expect reported operating margins of approximately 30.8%, and adjusted operating margins of approximately 41.3%.
• We are planning for reported EPS to be $0.94, +/- $0.07, and adjusted EPS to be $1.30, +/- $0.07.

For earnings history and earnings-related data on Analog Devices (ADI) click here.

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