PR No: C3085C

STMicroelectronics Reports 202 2 First Quarter Financial Results

• Q 1 net revenues $ 3.55 billion; gross margin 46.7 %; operating margin 24.7 % ; net income $ 747 million
• Q1 free cash flow ⁽¹⁾ $ 82 m illion after net capital expenditure payments of $ 840 million
• Business outlook at the mid-point: Q 2 net revenues of $ 3.75 billion and gross margin of 46.0 %
  
  

Geneva, April 2 7 , 202 2 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the first quarter ended April 2, 2022. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported first quarter net revenues of $3.55 billion, gross margin of 46.7%, operating margin of 24.7%, and net income of $747 million or $0.79 diluted earnings per share.

Jean-Marc Chery, STMicroelectronics President & CEO, commented:

• “ Q1 net revenues of $3.55 billion and gross margin of 46.7% came in above the mid-p oint of our business outlook range . Th is revenue performance , driven by strong demand in m icrocontrollers , was partially offset by temporar il y reduced operations at our Shenzhen , China manufacturing facility due to the pandemic .
• “ On a year-over-year basis, Q1 net revenues increased 17.6%, o perating m argin increased to 24.7% from 14.6% and net income more than doubled to $747 million .
• “ ST’s second quarter outlook, at the mid-point, is for net revenues of $ 3.75 billion, increasing year-over-year by 25.3 % and sequentially by 5. 8 % ; gross margin is expected to be about 46 .0 % .
• “ W e continue to drive the Company based on a plan for FY22 revenues in the range of $14.8 billion to $15.3 billion . ”

Quarterly Financial Summary (U.S. GAAP)

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