Texas Instruments Inc
- Texas Instruments is a global semiconductor company that designs, manufactures and sells analog and embedded processing chips.
- Texas Instruments has approximately 80,000 different products, and more than 100,000 customers around the globe.
Texas Instruments is (Nasdaq: TXN, LSE: 0R2H) a global semiconductor company that designs, manufactures, tests and sells analog and embedded processing chips. The company manufacture tens of billions of analog and embedded processing semiconductors annually, across approximately 80,000 different products, and deliver them to more than 100,000 customers around the globe.
First Quarter 2023 Results
April 25, 2023; Texas Instruments reported first quarter revenue of $4.38 billion, net income of $1.71 billion and earnings per share of $1.85. Earnings per share included a 3-cent benefit for items that were not in the company's original guidance. Revenue decreased 6% sequentially and decreased 11% from the same quarter a year ago.
Full Year 2022Results
Revenue of $20.03 billion increased $1.68 billion, or 9.2%, due to higher revenue from Analog and, to a lesser extent, Embedded Processing. This increase benefited from higher prices and the mix of products shipped.
Gross profit of $13.77 billion was up $1.40 billion, or 11.3%, primarily due to higher revenue. As a percentage of revenue, gross profit increased to 68.8% from 67.5%.
Operating expenses (R&D and SG&A) were $3.37 billion compared with $3.22 billion, as a result of increased investments in R&D and inflation
Restructuring charges/other was $257 million compared with $54 million due to integration charges at its Lehi, Utah, manufacturing facility in both periods, which were partially offset by gains on sales of assets in 2021. The charges associated with its Lehi facility transitioned to cost of revenue once production began in December 2022.
Operating profit was $10.14 billion, or 50.6% of revenue, compared with $8.96 billion, or 48.8% of revenue.
Interest and debt expense of $214 million increased $30 million due to the issuance of additional long-term debt.
The company's provision for income taxes was $1.28 billion compared with $1.15 billion. This increase was primarily due to higher income before income taxes and lower discrete tax benefits compared to 2021. The company's effective tax rate, which includes discrete tax items, was 12.8% in 2022 compared with 12.9% in 2021.
Net income was $8.75 billion compared with $7.77 billion. EPS was $9.41 compared with $8.26.
The company design and manufacture semiconductors that the company sell to electronics designers and manufacturers all over the world. The company's operations began in 1930, and Texas Instruments is incorporated in Delaware. With headquarters in Dallas, Texas, Texas Instruments has design, manufacturing or sales operations in more than 30 countries.
The company manufacture tens of billions of analog and embedded processing semiconductors annually, across approximately 80,000 different products, and deliver them to more than 100,000 customers around the globe. Currently 12 wafer fabs, seven assembly and test factories, and multiple bump and probe facilities across 15 worldwide sites.
The company's facilities in the United States contained approximately 15.9 million square feet at December 31, 2022, of which approximately 0.3 million square feet were leased. The company's facilities outside the United States contained approximately 10.3 million square feet at December 31, 2022, of which approximately 1.6 million square feet were leased.
- North Texas (Dallas, Richardson and Sherman)
- Lehi, Utah
- South Portland, Maine
- Santa Clara, California
- Houston, Texas
- Tucson, Arizona
- Chengdu, China
- Shanghai, China
- Freising, Germany
- Bangalore, India
- Aizu, Japan
- Miho, Japan
- Kuala Lumpur, Malaysia
- Melaka, Malaysia
- Aguascalientes, Mexico
- Baguio, Philippines
- Pampanga (Clark), Philippines
- Taipei, Taiwan