ST had Q2 net revenues of $3.84 billion for a gross margin 47.4% an operating margin 26.2% and net income of $867 million
H1 net revenues were $7.38 billion for a gross margin of 47.1% an operating margin of 25.5%; and net income $1.61 billion.
Business outlook at the mid-point is for Q3 net revenues of $4.24 billion and gross margin of 47.0%
ST CEO Jean-Marc Chery (pictured) said:
“Q2 net revenues and gross margin came in above the mid-point of our business outlook range driven by continued strong demand for our product portfolio.”
“On a year-over-year basis, Q2 net revenues increased 28.3%, operating margin increased to 26.2% from 16.3% and net income doubled to $867 million,” added Chery.
“First half net revenues increased 22.9% year-over-year, driven by growth in all product groups and sub-groups. Operating margin was 25.5% and net income was $1.61 billion,” continued Chery
“ST’s third quarter outlook, at the mid-point, is for net revenues of $4.24 billion, increasing year-over-year by 32.6% and sequentially by 10.5%; gross margin is expected to be about 47.0%,” said Chery.
“We will now drive the Company based on a plan for FY22 revenues in the range of $15.9 billion to $16.2 billion and gross margin to be about 47.0%,” concluded Chery.
New orders exceed ST’s manufacturing capacity for 2023, said Chery.
ST’s net financial position was $924 million at July 2, 2022 compared to $840 million at April 2, 2022 and reflected total liquidity of $3.44 billion and total financial debt of $2.52 billion.
