Not All Chipmakers Are Doing Great; STMicroelectronics Lowers Annual Outlook After Q1 Performance
Not All Chipmakers Are Doing Great; STMicroelectronics Lowers Annual Outlook After Q1 Performance
STMicroelectronics NV (NYSE: STM) reported a first-quarter revenue decline of 18.4% year-on-year to $3.47 billion, missing the consensus of $3.62 billion. EPS of $0.54 missed the consensus of $0.59.
意法半導體內華達州（紐約證券交易所代碼：STM）報告稱，第一季度收入同比下降18.4％，至34.7億美元，未達到預期的36.2億美元。每股收益爲0.54美元，未達到0.59美元的共識。
Sales to OEMs decreased by 11.5% Y/Y, and Distribution sales fell by 30.8% Y/Y.
對整車廠的銷售額同比下降11.5％，分銷銷售額同比下降30.8％。
Analog products, MEMS, and Sensors (AM&S) segment revenue declined 13.1% Y/Y to $1.22 billion, mainly due to a decrease in MEMS and Imaging.
模擬產品、微機電系統和傳感器（AM＆S）板塊收入同比下降13.1％，至12.2億美元，這主要是由於微機電系統和成像的減少。
Power and Discrete products (P&D) segment revenue decreased 9.8% Y/Y to $820 million mainly due to a decrease in Discrete.
功率和分立產品（P&D）板塊收入同比下降9.8％，至8.2億美元，這主要是由於分立產品的減少。
Microcontrollers (MCU) segment revenue reduced 34.4% Y/Y to $950 million, mainly due to a decrease in GP MCU.
微控制器（MCU）板塊收入同比下降34.4％，至9.5億美元，這主要是由於GP MCU的減少。
Digital ICs and RF products (D&RF) segment revenue decreased 2.1% Y/Y to $475 million due to a decrease in ADAS.
由於ADAS的減少，數字集成電路和射頻產品（D＆RF）細分市場的收入同比下降2.1％，至4.75億美元。
Margins: The gross margin declined by 800 bps to 41.7%, mainly due to the combination of the sales price and product mix, unused capacity charges, and reduced manufacturing efficiencies. The operating margin decreased by 1,240 bps to 15.9%.
利潤率：毛利率下降了800個點子至41.7％，這主要是由於銷售價格和產品組合、未使用的產能費用以及製造效率的降低。營業利潤率下降了1,240個點子至15.9％。
STMicroelectronics used $(134) million in free cash flow and held $6.24 billion in cash and equivalents as of March 30, 2024. It generated an operating cash flow of $859 million.
截至2024年3月30日，意法半導體使用了1.34億美元的自由現金流，持有62.4億美元的現金及等價物。它創造了8.59億美元的運營現金流。
Jean-Marc Chery, ST President & CEO, commented: "Q1 net revenues and gross margin both came in below the midpoint of our business outlook range, driven by lower revenues in Automotive and Industrial, partially offset by higher revenues in Personal Electronics."
意法半導體總裁兼首席執行官Jean-Marc Chery評論說：“受汽車和工業收入減少的推動，第一季度淨收入和毛利率均低於我們業務展望區間的中點，部分被個人電子收入的增加所抵消。”
"During the quarter, Automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing Industrial correction accelerated."
“在本季度，與我們的預期相比，汽車半導體需求放緩，進入減速階段，而正在進行的工業調整加速了。”
Outlook: STMicroelectronics expects fiscal second-quarter 2024 revenue of $3.20 billion, a decrease of about 7.6% sequentially, plus or minus 350 bps (consensus $3.80 billion). The company expects a gross margin of 40.0%, plus or minus 200 bps.
展望：意法半導體預計，2024財年第二季度收入爲32.0億美元，環比下降約7.6％，正負350個點子（共識爲38.0億美元）。該公司預計毛利率爲40.0％，正負200個點子。
It now expects fiscal 2024 revenue of $14 billion – $15 billion (prior $15.9 billion – $16.9 billion) versus consensus of $16.12 billion and a gross margin in the low 40% (prior low to mid-40%).
它現在預計2024財年的收入爲140億美元至150億美元（之前爲159億美元至169億美元），而市場預期爲161.2億美元，毛利率處於低40％（之前的低點至中等-40％）。
For 2024, the company maintained a $2.5 billion net Capex outlook.
2024年，該公司維持了25億美元的淨資本支出展望。
STMicroelectronics stock lost 7% in the last 12 months. Investors can gain exposure to the stock via Return Stacked Bonds & Managed Futures ETF Veridien Climate Action ETF (NYSE:CLIA) and Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF (NYSE:SEMI).
意法半導體的股票在過去12個月中下跌了7％。投資者可以通過回報堆疊債券和管理期貨ETF Veridien氣候行動ETF（紐約證券交易所代碼：CLIA）和哥倫比亞ETF信託一哥倫比亞塞利格曼半導體與科技ETF（紐約證券交易所代碼：SEMI）獲得股票敞口。
Price Action: STM shares are trading higher by 1.50% at $42.77 premarket at the last check on Thursday.
價格走勢：在週四的最後一次支票中，STM股價上漲1.50％，至盤前42.77美元。
譯文內容由第三人軟體翻譯。