Analog tops first-quarter EPS by $0.17 

Analog Devices (NASDAQ: ADI) is a high-performance, world-class analog tech firm that recorded $1.94 EPS in the first quarter of 2022, topping the $1.77 analyst estimate by 17 cents. In addition, the company recorded $2.88 billion total revenue in the first quarter, also topping the $2.6 billion consensus estimate.

Analog tops Q1 consensus estimates

The free cash flow and operating cash flow came to $2.78 billion and $3.16 billion, respectively. It also completed an accelerated repurchase program of $2.5 billion, retiring around $14 million shares. In addition, the company announced a dividend growth of 10%, which is the 19th time it has increased in the last 18 years.

Analog Device's Chief Executive Officer and President, Vincent Roche, said:

Mr Roche claimed that he was confident that higher backlog, increased bookings, and capacity investments will allow the company to continue performing well throughout the 2022 fiscal year.

The CEO continued:

The man at the company's helm said that through many years of both inorganic and organic strategic investments, the company had built a great performance-leading portfolio designed to take advantage of the rising demand involving secular megatrends like advanced connectivity, electrification and automation.

The financial outlook for Q2 2022

For the second quarter of the 2022 fiscal year, the company forecasts $2.8 billion in revenue. At the middle of this revenue forecast, the company expects to report an operating margin of roughly 26.5% and a 42.5% adjusted operating margin. The company also forecasts $1.14 EPS and a $2.07 adjusted EPS. This financial outlook is using current expectations that may differ materially in future.