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GlobalFoundries Inc (GFS)
NASDAQ:GFS
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.45Last Year’s EPS
$0.64Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 15.86%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong revenue growth and strategic design wins, particularly in smart mobile devices and partnerships like NXP, contrasted by challenges in the automotive and IoT markets. The overall sentiment is slightly more positive due to the strong future outlook and free cash flow generation.Company Guidance
During the GlobalFoundries (GFS) Q3 2024 earnings call, the company provided several key metrics and guidance for the future. The third quarter revenue was reported at $1.739 billion, marking a 7% sequential growth, with non-IFRS gross margin at 24.7%, and non-IFRS diluted earnings per share reaching $0.41. Free cash flow for the year-to-date was $779 million, with expectations for approximately 3x growth compared to 2023. The fourth quarter guidance projected revenue between $1.8 billion and $1.85 billion, with gross profit anticipated to be between $432 million and $481 million. The company also expects to maintain total operating expenses between $180 million and $200 million, with a full-year CapEx guidance of approximately $700 million. The strategic focus remains on diversifying the product portfolio and expanding into high-growth markets, with an expectation of sequential growth continuing into the fourth quarter of 2024.Strong Revenue Growth
Revenue for Q3 2024 reached $1.739 billion, a 7% sequential increase and at the high end of the guidance range, with expectations of continued sequential growth in Q4.
Significant Design Wins
Approximately 90% of design wins year-to-date are sole source opportunities, including a key win with NXP on the 22FDX platform for automotive and IoT applications.
Improved Free Cash Flow
The company generated $779 million of adjusted free cash flow year-to-date, with expectations to approach $1 billion for the full year 2024.
Smart Mobile Devices Growth
Revenue from smart mobile devices increased 14% sequentially, contributing to 50% of total revenue for the quarter.
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GFS Earnings History
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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GFS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $36.01 | $41.37 | +14.88% |
| Aug 06, 2024 | $44.77 | $43.23 | -3.44% |
| May 07, 2024 | $49.73 | $53.26 | +7.10% |
| Feb 13, 2024 | $55.82 | $54.66 | -2.08% |
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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FAQ
When does GlobalFoundries Inc (GFS) report earnings?
GlobalFoundries Inc (GFS) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is GlobalFoundries Inc (GFS) earnings time?
GlobalFoundries Inc (GFS) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GFS EPS forecast?
GFS EPS forecast for the fiscal quarter 2024 (Q4) is $0.45.
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