PR No: C3154C

STMicroelectronics Reports Q4 and F Y 202 2 Financial Results

• Q4 net revenues $ 4.42 billion; gross margin 4 7.5 %; operating margin 29 .1 % ; net income $ 1.25 b illion
• FY net revenues $1 6.13 billion; gross margin 47 .3 %; operating margin 27.5 %; net income $ 3.96 b illion
• Business outlook at mid-point: Q1 net revenues of $ 4.2 0 billion and gross margin of 48.0 %
  

Geneva, January 2 6 , 202 3 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the fourth quarter ended December 31, 2022. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported fourth quarter net revenues of $4.42 billion, gross margin of 47.5%, operating margin of 29.1%, and net income of $1.25 billion or $1.32 diluted earnings per share.

Jean-Marc Chery, STMicroelectronics President & CEO, commented:

• “ In Q4, ST delivered revenue s and gross margin above the mid-point of the guidance .
• “ FY22 revenue s increased 26.4% to $16.13 billion, driven by strong demand in automotive and industrial , and our engaged customer programs. Operating margin increased to 27.5% from 19.0% in FY21 and net income almost doubled to $3.96 billion. W e invested $3.52 billion in C APEX while delivering free cash flow of $1.59 billion.
• “ Our first quarter business outlook , at the mid-point , is for net revenues of $ 4.2 0 billion , increasing year-over-year by 1 8.5 % and decreasing sequentially by 5.1 % ; gross margin is expected to be about 48.0 %.
• “ For 2023, we plan to invest about $4.0 billion in CAPEX , mainly to increase our 300mm wafer fab s and silicon carbide manufacturing capacity including our substrate initiative.
• “ Based on our strong customer demand and increased manufacturing capacity, we will drive the Company based on a plan for FY23 revenues in the range of $ 16.8 billion to $ 17.8 billion. ”  
  

Quarterly Financial Summary (U.S. GAAP)

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