LONDON, UK / ACCESSWIRE / January 25, 2018 / Active-Investors.com has just released a free earnings report on Texas Instruments Inc. (NASDAQ: TXN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=TXN. The Company reported its fourth quarter fiscal year 2017 and full fiscal year 2017 operating and financial results on January 23, 2018. The chipmaker's revenue topped expectations, while earnings were in-line with market estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Texas Instruments most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the three months ended December 31, 2017, Texas Instruments' revenue jumped 10% to $3.75 billion compared to $3.41 billion in Q4 2016, as demand for the Company's products continued to be strong in the industrial and automotive markets. Texas Instruments' revenue numbers beat Wall Street's estimates of $3.74 billion.
For Q4 2017, Texas Instruments reported a gross profit of $2.44 billion compared to $2.14 billion in Q4 2016. The Company's operating earnings advanced 17% to $1.56 billion on a y-o-y basis.
Texas Instruments reported a net income of $344 million and earnings per share (EPS) of $0.34 in Q4 2017 compared to a net income of $1.05 billion, or $1.02 per share, in Q4 2016. The Company's reported quarter earnings included a $0.75 per share in tax-related expenses, not in Texas Instruments' original guidance, primarily due to the recently passed tax reform act. The Company's adjusted earnings, excluding the charge from passage of the US tax overhaul, were $1.09 per share, in-line with market expectations of $1.09 per share.
Segment Results
During Q4 2017, Texas Instruments' Analog segment's revenue grew 11% to $2.54 billion on a y-o-y basis, and its operating income jumped 20% to $1.19 billion. The Company's Embedded Processing segment's revenue increased 20% to $896 million on a y-o-y basis, and its operating profit soared 43% to $307 million.
Cash Matters
Texas Instruments' Q4 2017 trailing twelve months (TTM) cash flow from operations jumped 16% to $5.36 billion compared to $4.61 billion in Q4 2016. The Company's free cash flow was up 14% to $4.67 billion for the year, and represented 31.2% of revenue, up from 30.5% in the year ago same period.
Texas Instruments returned $4.66 billion to owners in 2017 through stock repurchases and dividends. Over the last 12 months, the Company's dividends represented 45% of free cash flow.
Outlook
For the first quarter of the fiscal year 2018, Texas Instruments is forecasting revenue to be in the range of $3.49 billion to $3.79 billion, and earnings per share (EPS) to be between $1.01 and $1.17, including an estimated $30 million discrete tax benefit.
Texas Instruments noted that the recently passed tax reform act will reduce the Company's annual operating tax rate from 31% in 2017 to an ongoing rate of 18% starting in 2019, comprehending the benefit of exports and having manufacturing, research and development (R&D), and intellectual property in the United States. In 2018, Texas Instruments estimated its annual operating tax rate to be 23%, 5% higher, due to transitional expenses associated with the reduced US tax rate in 2018.
Stock Performance Snapshot
January 24, 2018 - At Wednesday's closing bell, Texas Instruments' stock dropped 8.50%, ending the trading session at $109.70.
Volume traded for the day: 19.20 million shares, which was above the 3-month average volume of 4.81 million shares.
Stock performance in the last month - up 5.41%; previous three-month period - up 14.02%; past twelve-month period - up 42.32%; and year-to-date - up 5.04%
After yesterday's close, Texas Instruments' market cap was at $108.38 billion.
Price to Earnings (P/E) ratio was at 24.98.
The stock has a dividend yield of 2.26%.
The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry.
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