NXP Semiconductors NV (NASDAQ:NXPI) reported financial results for the first quarter after the market close on Monday. Here’s a look at some of the key details from the report.
Q1 Earnings: NXP reported first-quarter revenue of $2.84 billion, in line with analyst estimates, according to Benzinga Pro. The company reported first-quarter adjusted earnings of $2.64 per share, beating analyst estimates of $2.58 per share.
Total revenue in the first quarter was down 9% on a year-over-year basis. The company said it generated $565 million in cash flow from operations, as well as free cash flow of $427 in the quarter.
“NXP delivered quarterly revenue of $2.84 billion, in-line with the midpoint of guidance. NXP’s first-quarter results and guidance for the second quarter underpin a cautious optimism that NXP continues to effectively navigate through a challenging set of market conditions,” said Kurt Sievers, president and CEO of NXP.
“We are operating in a very uncertain environment influenced by tariffs with volatile direct and indirect effects. Considering these external factors, we are redoubling our efforts to manage what is in our direct control, enabling NXP to drive solid profitability and earnings.”
Related Link: Top Wall Street Forecasters Revamp NXP Semiconductors Expectations Ahead Of Q1 Earnings
Outlook: NXP expects second-quarter revenue of $2.8 billion to $3 billion versus estimates of $2.87 billion. The company sees second-quarter adjusted earnings in the range of $2.46 to $2.86 per share versus estimates of $2.65 per share.
The quarterly figures and second-quarter guidance appear to be largely in line with estimates. Cautious commentary from executives as well as a CEO transition appear to be weighing on shares after the bell.
NXP announced that Sievers intends to retire at the end of 2025. The board has unanimously approved Rafael Sotomayor to succeed Sievers. Sotomayor will take over as president and CEO in October following a transition period.
NXP executives will further discuss the quarter on a call with analysts and investors Tuesday morning at 8 a.m. ET.
NXPI Price Action: NXP Semiconductors shares were down 8.02% after-hours, trading at $180.50 at the time of publication Monday, according to Benzinga Pro.
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