NASDAQ$TXN

Texas Instruments Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Texas Instruments reported a decrease in revenue and earnings per share compared to the same quarter a year ago, impacted by lower demand in Analog and Embedded Processing segments.

Texas Instruments reported first quarter revenue of $3.33 billion, net income of $1.17 billion and earnings per share of $1.24. EPS included a 10-cent benefit for items not in the company's original guidance. Revenue decreased 7% from the same quarter a year ago, with Analog revenue declining 2% and Embedded Processing declining 18%.

  • First quarter revenue was $3.33 billion, a decrease of 7% year-over-year.
  • Net income for the quarter was $1.17 billion, with earnings per share of $1.24.
  • Analog revenue decreased by 2% and Embedded Processing revenue decreased by 18% compared to the same quarter a year ago.
  • The company returned $6.6 billion to owners in the past 12 months through stock repurchases and dividends.

Headline financials

Total Revenue

$3.33B

Previous: $3.59B-7.4%
EPS (adj)

$1.24

Previous: $1.22+1.6%
FCF % of Revenue

39.9%

Previous: 38.4%+3.9%
Capital Expenditures

-$161M

Previous: -$251M+35.9%
Free Cash Flow

$1.01B

Previous: $966M+4.9%
Net Income

$1.17B

Previous: $1.22B-3.5%
Operating Income

$1.24B

Previous: $1.38B-9.8%
Gross Profit

$2.09B

Previous: $2.26B-7.7%
Cash & Equivalents

$2.52B

Previous: $3.72B-32.3%
Total Assets

$17.3B

Previous: $17.4B-0.9%
Stock-Based Comp

$63M

Previous: $61M+3.3%

Revenue & EPS history

Texas Instruments · Revenue · Quarterly

$3.33B

Q1 2020-7.4%vs Q1 2019
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Revenue by segment

Texas Instruments · $3.33B total across 3 segments · Q1 2020

  • Analog
    $2.46B-2.3%
  • Embedded Processing
    $653M-18.0%
  • Other
    $216M-22.9%

Forward guidance

TI’s second quarter outlook is for revenue in the range of $2.61 billion to $3.19 billion, and earnings per share between $0.64 and $1.04, which includes an estimated $10 million discrete tax benefit. We expect our annual operating tax rate to be about 14% in 2020.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-0.1%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+1.8%

Avg return

30 days after

48%

35 / 73 earnings

Positive

+10.8%

Q3 2015

Best reaction

-9.1%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.3%+12.1%+31.0%
Q4 2025+1.1%+14.4%+7.9%
Q3 2025+2.9%-6.3%-11.9%
Q2 2025-1.0%-4.5%+5.8%
Q1 2025+6.6%+5.7%+15.9%
Q4 2024-7.5%-10.1%+0.7%
Q3 2024+3.0%+5.7%+1.2%
Q2 2024-3.7%-1.9%-1.0%
Q1 2024+7.0%+8.6%+20.7%
Q4 2023-2.7%-6.1%-5.4%
Q3 2023-3.1%-2.2%+5.2%
Q2 2023-4.3%-3.0%-10.0%
Q1 2023-6.5%-4.9%-3.6%
Q4 2022-1.8%-1.6%-3.6%
Q3 2022-2.3%-0.2%+10.7%
Q2 2022+5.1%+9.6%+8.6%
Q1 2022-2.6%-2.1%+0.1%
Q4 2021-0.0%-0.6%-4.9%
Q3 2021-6.5%-6.4%-3.3%
Q2 2021-2.1%+0.3%-1.5%
Q1 2021-5.0%-5.7%-1.2%
Q4 2020-5.8%-4.2%-1.4%
Q3 2020-3.1%-0.5%+4.3%
Q2 2020-3.0%-5.1%+1.5%
Q1 2020+0.4%+2.2%+1.7%
Q4 2019+2.6%-3.5%-1.8%
Q3 2019-9.1%-8.0%-11.3%
Q2 2019+9.2%+8.4%+5.9%
Q1 2019+3.0%+2.0%-7.9%
Q4 2018+5.7%+6.3%+11.1%
Q3 2018-7.7%-9.2%-3.6%
Q2 2018-1.3%-1.8%-2.0%
Q1 2018+5.0%+4.5%+12.9%
Q4 2017-8.2%-4.8%-13.0%
Q3 2017-0.4%+1.3%+1.9%
Q2 2017+2.0%-0.3%+0.4%
Q1 2017+0.0%-2.3%-0.4%
Q4 2016+3.8%+3.0%+1.9%
Q3 2016-0.7%-0.5%+4.5%
Q2 2016+9.1%+6.5%+6.7%
Q1 2016-1.2%
Q4 2015+0.8%
Q3 2015+10.8%
Q2 2015+0.6%
Q1 2015-5.9%
Q4 2014-0.4%
Q3 2014+7.1%
Q2 2014+0.6%
Q1 2014+4.0%
Q4 2013+2.7%
Q3 2013-1.1%
Q2 2013+4.5%
Q1 2013+4.2%
Q4 2012-1.3%
Q3 2012+0.1%
Q2 2012-2.5%
Q1 2012-3.4%
Q4 2011-0.6%
Q3 2011+1.3%
Q2 2011-6.2%
Q1 2011+1.2%
Q4 2010+0.5%
Q3 2010+4.9%
Q2 2010+0.9%
Q1 2009-2.1%
Q1 2010+0.1%
Q4 2007+0.1%
Q4 2009+0.1%
Q3 2008-2.0%
Q3 2009-2.0%
Q2 2009-0.2%
Q4 2008-0.2%
Q2 2008-0.2%

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