TI reports second quarter 2022 financial results and shareholder returns

Conference call on TI website at 3:30 p.m. Central time today

DALLAS, July 26, 2022 — (PRNewswire) — Texas Instruments Incorporated (TI) (Nasdaq: TXN) today reported second quarter revenue of $5.21 billion, net income of $2.29 billion and earnings per share of $2.45.

Regarding the company's performance and returns to shareholders, Rich Templeton, TI's chairman, president and CEO, made the following comments:

  • "Revenue increased 14% from the same quarter a year ago due to growth across markets.
  • "Our cash flow from operations of $8.7 billion for the trailing 12 months again underscored the strength of our business model. Free cash flow for the same period was $5.9 billion and 30% of revenue. This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter production.
  • "Over the past 12 months we invested $3.2 billion in R&D and SG&A, invested $2.8 billion in capital expenditures and returned $6.2 billion to owners.
  • "TI's third quarter outlook is for revenue in the range of $4.90 billion to $5.30 billion and earnings per share between $2.23 and $2.51. We expect our 2022 effective tax rate to be about 14%."

Free cash flow, a non-GAAP financial measure, is cash flow from operations less capital expenditures.

Earnings summary

Amounts are in millions of dollars, except per-share amounts.



Q2 2022


Q2 2021


Change 


Revenue


$

5,212


$

4,580


14 %


Operating profit


$

2,723


$

2,213


23 %


Net income


$

2,291


$

1,931


19 %


Earnings per share


$

2.45


$

2.05


20 %


 

Cash generation

Amounts are in millions of dollars.





Trailing 12 Months




Q2 2022


Q2 2022


Q2 2021


Change 


Cash flow from operations


$

1,768


$

8,697


$

7,539


15 %


Capital expenditures


$

597


$

2,808


$

1,052


167 %


Free cash flow


$

1,171


$

5,889


$

6,487


(9) %


Free cash flow % of revenue




30.1 %


38.7 %





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