GlobalFoundries Reports Fourth Quarter and Fiscal Year 2022 Financial Results
| | |
Three Months Ended | |
Year Ended |
|
(in millions USD) | |
December 31, 2022 | |
September 30, 2022 | |
December 31, 2021 | |
December 31, 2022 | |
December 31, 2021 |
| | | | | | | | | | | |
|
Gross profit | |
$ |
622 | | |
$ |
610 | | |
$ |
384 | | |
$ |
2,239 | | |
$ |
1,013 | |
| Gross profit margin | | | 29.6 | % | | | 29.4 | % | | | 20.8 | % | | | 27.6 | % | | | 15.4 | % |
| Share based compensation | | $ | 11 | | | $ | 11 | | | $ | 13 | | | $ | 64 | | | $ | 55 | |
|
Adjusted gross profit | |
$ |
633 | | |
$ |
621 | | |
$ |
397 | | |
$ |
2,303 | | |
$ |
1,068 | |
| Adjusted gross margin | | | 30.1 | % | | | 29.9 | % | | | 21.5 | % | | | 28.4 | % | | | 16.2 | % |
| | | | | | | | | | | |
|
Operating profit (loss) | |
$ |
288 | | |
$ |
357 | | |
$ |
87 | | |
$ |
1,167 | | |
$ |
(60 |
) |
| Operating profit margin | | | 13.7 | % | | | 17.2 | % | | | 4.7 | % | | | 14.4 | % | | | (0.9 | )% |
| Share based compensation | | $ | 43 | | | $ | 32 | | | $ | 55 | | | $ | 182 | | | $ | 228 | |
| Restructuring charges (1) | | $ | 94 | | | | — | | | | — | | | $ | 94 | | | | — | |
|
Adjusted operating profit | |
$ |
425 | | |
$ |
389 | | |
$ |
142 | | |
$ |
1,443 | | |
$ |
168 | |
| Adjusted operating profit margin | | | 20.2 | % | | | 18.8 | % | | | 7.7 | % | | | 17.8 | % | | | 2.6 | % |
| | | | | | | | | | | |
|
Net income (loss)
(2) | |
$ |
668 | | |
$ |
336 | | |
$ |
43 | | | $ | 1,446 | | |
$ |
(254 |
) |
| Net income (loss) margin | | | 31.8 | % | | | 16.2 | % | | | 2.3 | % | | | 17.8 | % | | | (3.9 | )% |
| Share based compensation | | $ | 43 | | | $ | 32 | | | $ | 55 | | | $ | 182 | | | $ | 228 | |
| Restructuring charges (1) | | $ | 94 | | | | — | | | | — | | | $ | 94 | | | |
— | |
| Income tax effect (3) | | $ | (5 | ) | | $ | — | | | $ | — | | | $ | (5 | ) | | $ | — | |
|
Adjusted net income (loss)
(4) | |
$ |
800 | | |
$ |
368 | | |
$ |
98 | | |
$ |
1,717 | | |
$ |
(26 |
) |
| Adjusted net income (loss) margin | | | 38.1 | % | | | 17.7 | % | | | 5.3 | % | | | 21.2 | % | | | (0.4 | )% |
| | | | | | | | | | | |
|
Diluted earnings (loss) per share | |
$ |
1.21 | | |
$ |
0.61 | | |
$ |
0.08 | | |
$ |
2.62 | | |
$ |
(0.49 |
) |
| Share based compensation | | $ | 0.07 | | | $ | 0.06 | | | $ | 0.10 | | | $ | 0.33 | | | $ | 0.44 | |
| Restructuring charges (1) | | $ | 0.17 | | | | — | | | | — | | | $ | 0.17 | | | | — | |
| Income tax effect | | $ | (0.01 | ) | | | — | | | | — | | | $ | (0.01 | ) | | | — | |
|
Adjusted diluted earnings (loss) per share | |
$ |
1.44 | | |
$ |
0.67 | | |
$ |
0.18 | | |
$ |
3.11 | | |
$ |
(0.05 |
) |
| | | | | | | | | | | | | | | | | | | | | |
