NASDAQ$ADI
Analog Devices Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
ADI executed well and delivered third quarter results within expectations, but customer inventory adjustments accelerated as economic conditions deteriorated.
Analog Devices reported Q3 2023 revenue of $3.08 billion. Despite a challenging operating environment, the company delivered results within expectations, driven by continued year-over-year growth in the Industrial and Automotive segments. Customer inventory adjustments have accelerated.
- Revenue of $3.08 billion with continued year-over-year growth in Industrial & Automotive.
- Operating income was $929 million with an operating margin of 30.2%.
- Diluted earnings per share was $1.74.
- Returned $1.1 billion to shareholders via $0.7 billion in share repurchases and $0.4 billion in dividends during the third quarter.
Headline financials
Revenue & EPS history
Analog Devices · Revenue · Quarterly
$3.08B
Revenue by segment
Analog Devices · $3.08B total across 4 segments · Q3 2023
- Industrial$1.63B+4.8%53.0%
- Automotive$748M+13.4%24.3%
- Communications$381M-22.5%12.4%
- Consumer$319M-21.2%10.4%
Forward guidance
For the fourth quarter of fiscal 2023, ADI is forecasting revenue of $2.70 billion, +/- $100 million. At the midpoint of this revenue outlook, the company expects reported operating margin of approximately 26.8%, +/-130 bps, and adjusted operating margin of approximately 44.0%, +/-70 bps. They are planning for reported EPS to be $1.19, +/-$0.10, and adjusted EPS to be $2.00, +/-$0.10.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
+1.2%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+0.5%
Avg return
30 days after
53%
38 / 72 earnings
Positive
+9.7%
Q1 2025
Best reaction
-8.3%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -5.0% | -4.8% | +4.1% | |
| Q1 2026 | +1.0% | +5.2% | -8.3% | |
| Q4 2025 | +4.4% | +10.8% | +15.9% | |
| Q3 2025 | +6.1% | +10.4% | +6.5% | |
| Q2 2025 | -4.6% | -2.4% | +2.8% | |
| Q1 2025 | +9.7% | +7.6% | -7.2% | |
| Q4 2024 | -2.9% | -2.5% | -2.5% | |
| Q3 2024 | -0.7% | +0.9% | +1.5% | |
| Q2 2024 | +8.3% | +7.3% | +6.7% | |
| Q1 2024 | +1.3% | -0.2% | +2.2% | |
| Q4 2023 | -0.6% | -0.4% | +6.8% | |
| Q3 2023 | -1.7% | +2.1% | -0.7% | |
| Q2 2023 | -8.3% | -6.1% | -1.1% | |
| Q1 2023 | +8.7% | +6.8% | +3.4% | |
| Q4 2022 | +6.3% | +4.9% | +2.8% | |
| Q3 2022 | -5.0% | -8.5% | -16.6% | |
| Q2 2022 | -1.8% | -1.4% | -11.7% | |
| Q1 2022 | -1.0% | -1.0% | +0.9% | |
| Q4 2021 | -1.6% | -4.0% | -6.9% | |
| Q3 2021 | +0.3% | +2.0% | +3.1% | |
| Q2 2021 | +9.3% | +11.4% | +11.2% | |
| Q1 2021 | -1.5% | -0.8% | -5.3% | |
| Q4 2020 | -0.8% | +0.5% | +5.4% | |
| Q3 2020 | -0.4% | -0.6% | -2.5% | |
| Q2 2020 | +4.4% | +4.4% | +13.0% | |
| Q1 2020 | +5.0% | -1.0% | -28.2% | |
| Q4 2019 | +0.7% | +0.0% | +6.0% | |
| Q3 2019 | -1.5% | -3.9% | +4.6% | |
| Q2 2019 | -1.2% | -1.5% | +13.8% | |
| Q1 2019 | +1.0% | +3.5% | +3.1% | |
| Q4 2018 | +4.9% | +3.6% | -3.3% | |
| Q3 2018 | +1.5% | +4.3% | -1.4% | |
| Q2 2018 | +3.0% | +5.9% | +1.6% | |
| Q1 2018 | -4.3% | -1.2% | -1.2% | |
| Q4 2017 | -4.7% | -4.2% | -4.7% | |
| Q3 2017 | +5.2% | +6.1% | +8.3% | |
| Q2 2017 | -3.1% | -7.1% | -8.3% | |
| Q1 2017 | +5.3% | +6.0% | +7.0% | |
| Q4 2016 | +5.4% | +6.3% | +5.2% | |
| Q3 2016 | -1.2% | -1.6% | -4.4% | |
| Q2 2016 | +0.6% | — | — | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | +6.1% | — | — | |
| Q3 2015 | -1.9% | — | — | |
| Q2 2015 | +4.5% | — | — | |
| Q1 2015 | +2.3% | — | — | |
| Q4 2014 | +5.3% | — | — | |
| Q3 2014 | -1.7% | — | — | |
| Q2 2014 | -1.3% | — | — | |
| Q1 2014 | +1.6% | — | — | |
| Q4 2013 | -2.3% | — | — | |
| Q3 2013 | -1.7% | — | — | |
| Q2 2013 | -2.8% | — | — | |
| Q1 2013 | -0.8% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | -2.1% | — | — | |
| Q2 2012 | -0.5% | — | — | |
| Q1 2012 | -2.1% | — | — | |
| Q4 2011 | -5.3% | — | — | |
| Q3 2011 | -1.2% | — | — | |
| Q2 2011 | +5.1% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2010 | +1.5% | — | — | |
| Q3 2010 | +6.1% | — | — | |
| Q2 2010 | +1.5% | — | — | |
| Q1 2010 | +3.4% | — | — | |
| Q1 2009 | +3.4% | — | — | |
| Q2 2009 | +6.8% | — | — | |
| Q4 2007 | +6.8% | — | — | |
| Q4 2009 | +6.8% | — | — | |
| Q3 2008 | +3.9% | — | — | |
| Q3 2009 | +3.9% | — | — |
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