NXP Semi beats by $0.03, reports revs in-line; Rafael Sotomayor to succeed Mr. Sievers as President and CEO
4:17 PM ET 4/28/25 | Briefing.com
Reports Q1 (Mar) earnings of $2.64 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $2.61; revenues fell 9.3% year/year to $2.84 bln vs the $2.83 bln FactSet Consensus.NXP's first-quarter results and guidance for the second quarter underpin a cautious optimism that NXP continues to effectively navigate through a challenging set of market conditions. We are operating in a very uncertain environment influenced by tariffs with volatile direct and indirect effects. Considering these external factors, we are redoubling our efforts to manage what is in our direct control, enabling NXP to drive solid profitability and earnings," said Kurt Sievers, NXP President and Chief Executive Officer.The company announced that Mr. Sievers has informed the Board of Directors of his intention to retire from NXP at the end of 2025. "Kurt has been a dynamic, visionary, and highly effective CEO of NXP since May 2020," said Julie Southern, NXP's Chair of the Board of Directors. "He has been instrumental in leading the definition and implementation of NXP's strategy to be the leader in intelligent systems at the edge within the Automotive and Industrial & IoT end markets. After a successful 30-year career with NXP, we are saddened to see Kurt retire. We and the entire NXP community thank him for his leadership and wish him the absolute best in his retirement."Following a comprehensive and thorough succession planning process, NXP's Board of Directors announced that it has unanimously approved Mr. Rafael Sotomayor to succeed Mr. Sievers as President, effective April 28, 2025. Messrs. Sievers and Sotomayor will work closely to orchestrate a smooth leadership transition until October 28, 2025, when Mr. Sotomayor will assume the role of President and Chief Executive Officer. "Rafael has been an integral part of creating and shaping NXP's strategy and enabling the company's success. We are confident he is ideally suited to assume the role of President and CEO at NXP, and to execute the company's vision for leadership in the intelligent systems at the edge within the Automotive and Industrial & IoT end markets," said Ms. Southern.Mr. Sievers' departure is a purely personal decision and is not related to any disagreement with the Board of Directors, or any issues relating to the strategic or financial performance of the company.
NXP Semiconductors Q1 Non-GAAP Earnings, Revenue Fall; Q2 Guidance Set -- Shares Down After Hours
4:24 PM ET 4/28/25 | MT Newswires
NXP Semiconductors Q1 Non-GAAP Earnings, Revenue Fall; Q2 Guidance Set -- Shares Down After Hours04:24 PM EDT, 04/28/2025 (MT Newswires) -- NXP Semiconductors (NXPI) reported Q1 non-GAAP earnings late Monday of $2.64 per diluted share, down from $3.24 a year earlier.
Analysts polled by FactSet expected $2.61.
Revenue for the quarter ended March 30 was $2.84 billion, down from $3.13 billion a year earlier.
Analysts surveyed by FactSet expected $2.83 billion.
The company set its Q2 non-GAAP EPS guidance of $2.46 to $2.86 on revenue of $2.8 billion to $3 billion. Analysts expect non-GAAP EPS of $2.66 on revenue of $2.86 billion.
Shares of the company were down 6.3% in after-hours trading.
Price: 183.97, Change: -12.27, Percent Change: -6.25
NXP Semiconductors Guides for Further Revenue Declines in 2Q Amid Volatile Tariff Impacts
5:26 PM ET 4/28/25 | Dow Jones
NXP Semiconductors guided for revenue and earnings to continue to decline in the second quarter after logging lower profit and sales in the first quarter amid a volatile tariff environment.
The Netherlands-based semiconductor company on Monday guided for second-quarter revenue of $2.8 billion to $3 billion, the midpoint of which is 7% lower than the year-ago period. Analysts were looking for $2.86 billion.
The company expects earnings per share of $1.78 to $2.16, down from $2.54 a year prior.
Chief Executive Kurt Sievers said the outlook underpins a cautious optimism that the company can continue to navigate challenging market conditions.
"We are operating in a very uncertain environment influenced by tariffs with volatile direct and indirect effects," Sievers said, adding the company is doubling down on efforts to manage what is in its direct control.
For the first quarter, the company posted a profit of $490 million, or $1.92 a share, for the quarter ended March 30, compared with $639 million, or $2.47 a share, a year earlier.
Adjusted earnings per share were $2.64, ahead of estimates of $2.61 a share according to analysts polled by FactSet.
Revenue fell 9% to $2.84 billion. Analysts expected $2.83 billion.
The company also announced Sievers plans to retire later this year after three decades with the company.
Sievers, who stepped into the CEO role in 2020, will be succeeded by Rafael Sotomayor, executive vice president and general manager of the company's Secure Connected Edge division.
Sotomayor assumes the role of president effective April 28 and will assume the role of CEO on Oct. 28. |
