$NXPI (-0.7%) | NXP Semiconductors Q3'24 Earnings Highlights:

🔹 Revenue: $3.25B (Est. $3.36B) 🔴; DOWN -5% YoY

🔹 Adj EPS: $3.45 (Est. $3.42) 😐

🔹 Adj Gross Margin: 58.2%

Q4'24 Guidance:

🔹 Revenue: $3.00B - $3.20B (Est. $3.36B) 🔴; DOWN -12% to -6% YoY

🔹 Adj EPS: $2.93 - $3.33 (Est. $3.62) 🔴

🔹 Adj Gross Margin: 57.0% - 58.0% (Est. 58.6%) 🔴

🔹 Adj Operating Margin: 33.1% - 35.0% (Est. 35.7%) 🔴

Segment Performance:

🔹 Automotive: $1.83B; DOWN -3% YoY

🔹 Industrial & IoT: $563M; DOWN -7% YoY

🔹 Mobile: $407M; UP +8% YoY

🔹 Communications Infrastructure & Other: $451M; DOWN -19% YoY

Key Financial Metrics:

🔹 Adj Operating Income: $1.15B; DOWN -4.2% YoY

🔹 Free Cash Flow: $593M; DOWN -25% YoY

🔹 Gross Margin: 57.4% vs. 57.2% YoY

🔹 Adjusted Operating Margin: 35.5% vs. 35.0% YoY

🔹 R&D Expenses: $577M; DOWN -4% YoY

🔹 Inventory: $2.23B; UP +4.4% YoY

🔹 Capital Expenditure: $186M; DOWN -7% YoY

Operational Highlights:

🔸 Commenced construction of ESMC semiconductor fab in Dresden, Germany

🔸 Formed VSMC manufacturing joint venture with Vanguard International

🔸 Introduced Trimension SR250, first single-chip UWB solution for Industrial/IoT

🔸 Launched MC33777 battery junction box IC for electric vehicles

🔸 Announced new http://i.MX RT700 crossover MCU family for AI-enabled edge devices

CEO Kurt Sievers’ Commentary:

 🔸 "Despite achieving $3.25 billion in quarterly revenue, consistent with our guidance, we faced macroeconomic challenges, notably in the Industrial & IoT market. Our Q4 guidance reflects broad-based macro weakness, particularly in Europe and the Americas."