德州仪器(TXN)周四公布了2024年第四季度业绩,营收40.07亿美元,超出了分析师预期的38.5亿美元,但净利润同比下滑12%至12.05亿美元,每股收益1.3美元。这家模拟芯片制造商的第四季度表现显示,整个电子行业低迷继续拖累着需求,而其雄心勃勃的工厂扩建计划也在给利润带来压力。
更令市场失望的是,德州仪器对2025年第一季度的营收和每股收益指引均不及分析师平均预期。公司预计第一季度营收将在37.4亿至40.6亿美元之间,指引中值低于预期的38.6亿美元;每股收益则预计在0.94至1.16美元之间,中位数1.05美元远低于预期1.17美元。
根据分析人士看法,德州仪器的业绩展望反映了,芯片需求在主要需求市场如工业、汽车等依然低迷,且公司由于扩建产能而导致生产成本上升。高管表示,工业自动化和能源基础设施等领域的需求仍在持续疲软,尚未见到企稳迹象。在汽车领域,中国等主要市场的增长也不再像过去那样强劲。
不过,与商业环境的挑战形成鲜明反差的是,德州仪器第四季度营收和利润均超过了分析师平均预期。分析师认为,德州仪器位于中高景气周期,随着整体需求缓慢复苏,公司未来的收入和获利有望随之回升。产能扩张所导致的成本压力也有望在未来几年逐渐缓解。
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