Some of these risk factors are set forth and are discussed in more detail in “Item 3. Key Information — Risk Factors” included in our Annual Report on Form 20-F for the year ended December 31, 2023 as filed with the Securities and Exchange Commission (“SEC”) on February 22, 2024. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this press release as anticipated, believed or expected. We do not intend, and do not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.
Unfavorable changes in the above or other factors listed under “Item 3. Key Information — Risk Factors” from time to time in our Securities and Exchange Commission (“SEC”) filings, could have a material adverse effect on our business and/or financial condition.
About STMicroelectronics
At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027. Further information can be found at www.st.com.
For further information, please contact:
INVESTOR RELATIONS:
Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41 22 929 59 20
jerome.ramel@st.com
MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
alexis.breton@st.com
| STMicroelectronics N.V. | ||
| CONSOLIDATED STATEMENTS OF INCOME | ||
| (in millions of U.S. dollars, except per share data ($)) | ||
| Three months ended | ||
| September 28, | September 30, | |
| 2024 | 2023 | |
| (Unaudited) | (Unaudited) | |
| Net sales | 3,245 | 4,416 |
| Other revenues | 6 | 15 |
| NET REVENUES | 3,251 | 4,431 |
| Cost of sales | (2,023) | (2,322) |
| GROSS PROFIT | 1,228 | 2,109 |
| Selling, general and administrative expenses | (385) | (407) |
| Research and development expenses | (492) | (519) |
| Other income and expenses, net | 30 | 58 |
| Total operating expenses | (847) | (868) |
| OPERATING INCOME | 381 | 1,241 |
| Interest income, net | 55 | 44 |
| Other components of pension benefit costs | (4) | (5) |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 432 | 1,280 |
| Income tax expense | (71) | (188) |
| NET INCOME | 361 | 1,092 |
| Net income attributable to noncontrolling interest | (10) | (2) |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 351 | 1,090 |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.39 | 1.20 |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.37 | 1.16 |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 938.6 | 943.8 |
