STMicroelectronics Reports 2021 Second Quarter Financial Results
- Q2 net revenues $2.99 billion; gross margin 40.5%; operating margin 16.3%; net income $412 million
- H1 net revenues $6.01 billion; gross margin 39.7%; operating margin 15.5%; net income $776 million
- Business outlook at the mid-point: Q3 net revenues of $3.20 billion and gross margin of 41.0%
Geneva, July 29, 2021 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the second quarter ended July 3, 2021. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).
ST reported second quarter net revenues of $2.99 billion, gross margin of 40.5%, operating margin of 16.3%, and net income of $412 million or $0.44 diluted earnings per share.
Jean-Marc Chery, STMicroelectronics President & CEO, commented:
- “Q2 net revenues and gross margin came in at the high-end of our business outlook range driven by continued strong demand globally.
- “On a year-over-year basis, Q2 net revenues increased 43.4%. Q2 gross margin of 40.5% and operating margin of 16.3% improved 550 and 1,120 basis points, respectively, and net income increased 357.2% to $412 million.
- “First half net revenues increased 39.1% year-over-year, driven by growth in all product groups, except the RF Communications sub-group. Operating margin was 15.5% and net income $776 million.
- “ST’s third quarter outlook, at the mid-point, is for net revenues of $3.20 billion, increasing year-over-year and sequentially by 20.0% and 7.0%, respectively; gross margin is expected to be about 41.0%.
- “We will now drive the Company based on a plan for FY21 revenues of $12.5 billion, plus or minus $100 million, a year-over-year increase of 22.3% at the mid-point. This growth is expected to be driven by strong dynamics in all the end markets we address and our engaged customer programs. Our CAPEX plan will now be about $2.1 billion for 2021.
Quarterly Financial Summary (U.S. GAAP)
|(US$ m, except per share data)||Q2 2021||Q1 2021||Q2 2020||Q/Q||Y/Y|
|Gross Margin||40.5%||39.0%||35.0%||150 bps||550 bps|
|Operating Margin||16.3%||14.6%||5.1%||170 bps||1,120 bps|
|Diluted Earnings Per Share||$0.44||$0.39||$0.10||12.8%||340.0%|