Unfavorable changes in the above or other factors listed under “Item 3. Key Information — Risk Factors” from time to time in our Securities and Exchange Commission (“SEC”) filings, could have a material adverse effect on our business and/or financial condition.
About STMicroelectronics
At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027. Further information can be found at www.st.com.
For further information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel: +41 22 929 58 12
celine.berthier@st.com
MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
alexis.breton@st.com
| STMicroelectronics N.V. | |||
| CONSOLIDATED STATEMENTS OF INCOME | |||
| (in millions of U.S. dollars, except per share data ($)) | |||
| Three months ended | |||
| June 29, | July 1, | ||
| 2024 | 2023 | ||
| (Unaudited) | (Unaudited) | ||
| Net sales | 3,227 | 4,320 | |
| Other revenues | 5 | 6 | |
| NET REVENUES | 3,232 | 4,326 | |
| Cost of sales | (1,936) | (2,207) | |
| GROSS PROFIT | 1,296 | 2,119 | |
| Selling, general and administrative expenses | (419) | (414) | |
| Research and development expenses | (535) | (555) | |
| Other income and expenses, net | 33 | (4) | |
| Total operating expenses | (921) | (973) | |
| OPERATING INCOME | 375 | 1,146 | |
| Interest income, net | 51 | 33 | |
| Other components of pension benefit costs | (4) | (5) | |
| Loss on financial instruments, net | (1) | - | |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 421 | 1,174 | |
| Income tax expense | (67) | (171) | |
| NET INCOME | 354 | 1,003 | |
| Net income attributable to noncontrolling interest | (1) | (2) | |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 353 | 1,001 | |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.39 | 1.11 | |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.38 | 1.06 | |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 941.1 | 944.5 | |
