The earnings call highlighted strong operating and free cash flow margins, growth in the design win pipeline, and positive performance in the Consumer and Automotive segments. However, these positives were offset by significant revenue declines in Industrial and Communications segments, impacting overall revenue. The sentiment is a mix of cautious optimism about recovery in fiscal '25 and concerns over current revenue declines.

Company Guidance

In the fourth quarter earnings call for Analog Devices (ADI) in fiscal year 2024, the company reported a revenue of $9.4 billion for the full year, with earnings per share (EPS) of $6.38. Despite headwinds such as post-pandemic inventory digestion and a challenging macroeconomic environment, ADI achieved an impressive 41% operating margin and a 33% free cash flow margin, up from 29% in fiscal 2023. The company highlighted its strategic focus on research and development, which led to the launch of innovative solutions like the CodeFusion Studio software development platform and the ADI Assure trusted Edge Security Architecture. Looking ahead, ADI provided guidance for the first quarter of fiscal 2025, expecting revenue to be around $2.35 billion, with an operating margin of approximately 40% and EPS of $1.53. The company anticipates sequential declines in Industrial, Automotive, and Communications sectors, while Consumer is projected to decrease by around 15%. ADI plans to return to its target of 100% free cash flow return to shareholders in fiscal 2025.

Strong Operating and Free Cash Flow Margins

ADI achieved an impressive 41% operating margin and a free cash flow margin of 33%, up from 29% in fiscal '23.

Design Win Pipeline Growth

The company reported double-digit growth in its design win pipeline during fiscal '24, driven by momentum in areas like GMSL, healthcare, and data center power.

Consumer Segment Growth

Consumer revenue grew by 22% sequentially and 31% year-over-year in Q4, driven by higher share in wearables, premium handsets, and gaming applications.

Recovery in Automotive

Automotive revenue finished up 4% sequentially in Q4, with improvements in demand from China and the U.S., driven by battery management systems and wireless BMS portfolio.

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Analog Devices (ADI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ADI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 19, 2025	2025 (Q1)	1.54 / -	1.73	―	―	―
Nov 26, 2024	2024 (Q4)	1.64 / 1.67	2.01	-16.92% (-0.34)	―
Aug 21, 2024	2024 (Q3)	1.51 / 1.58	2.49	-36.55% (-0.91)	―
May 22, 2024	2024 (Q2)	1.26 / 1.40	2.83	-50.53% (-1.43)	―
Feb 21, 2024	2024 (Q1)	1.71 / 1.73	2.75	-37.09% (-1.02)	―
Nov 21, 2023	2023 (Q4)	2.00 / 2.01	2.73	-26.37% (-0.72)	―
Aug 23, 2023	2023 (Q3)	2.52 / 2.49	2.52	-1.19% (-0.03)	―
May 24, 2023	2023 (Q2)	2.75 / 2.83	2.4	17.92% (+0.43)	―
Feb 15, 2023	2023 (Q1)	2.60 / 2.75	1.94	41.75% (+0.81)	―
Nov 22, 2022	2022 (Q4)	2.58 / 2.73	1.73	57.80% (+1.00)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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ADI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 26, 2024	$222.64	$218.13	-2.03%
Aug 21, 2024	$221.68	$225.65	+1.79%
May 22, 2024	$214.03	$237.27	+10.86%
Feb 21, 2024	$186.24	$190.49	+2.28%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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