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Texas Instruments Incorporated (TI) reported third quarter revenue of $4.53 billion, net income of $1.71 billion and earnings per share of $1.85. Earnings per share included a 5-cent benefit for items that were not in the company’s original guidance.
Regarding the company’s performance and returns to shareholders, Haviv Ilan, TI’s president and CEO, made the following comments:
- “Revenue was flat sequentially and decreased 14% from the same quarter a year ago. During the quarter, automotive growth continued and industrial weakness broadened.
- “Our cash flow from operations of $6.5 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300-mm production. Free cash flow for the same period was $1.6 billion.
- “Over the past 12 months we invested $3.7 billion in R&D and SG&A, invested $4.9 billion in capital expenditures and returned $5.6 billion to owners.
- “TI’s fourth quarter outlook is for revenue in the range of $3.93 billion to $4.27 billion and earnings per share between $1.35 and $1.57. We continue to expect our 2023 effective tax rate to be about 13% to 14%.”
Original – Texas Instruments
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LATEST NEWS2 Min Read
Texas Instruments announced its new 300-mm semiconductor wafer fabrication plant in Richardson, Texas, RFAB2, achieved LEED (Leadership in Energy and Environmental Design) Gold certification under version 4 (v4). This designation makes RFAB2 the first wafer fab in the United States and the fourth in the world to achieve this more stringent certification from the U.S. Green Building Council (USGBC) for the sustainable design, construction and operation of high-performance green buildings.
“One of TI’s ambitions is to be a company that our employees are personally proud to be a part of and would want as our neighbor,” said Brian Dunlap, vice president, 300-mm Wafer Fab Manufacturing Operations at Texas Instruments. “We are proud that RFAB2 has achieved LEED Gold v4 certification, underscoring TI’s long-standing commitment to operate in a socially thoughtful and environmentally responsible manner.”
RFAB2, which is TI’s fourth LEED-certified manufacturing plant, was designed to reduce water and electricity usage. In fact, the new fab’s design, construction and operation are expected to achieve significant efficiencies, including saving 750 million gallons of potable water and almost 80,000 megawatt-hours of energy annually. The factory was also constructed using responsibly sourced materials and was designed and built in a way that fosters a healthy work environment.
“What makes this LEED Gold designation impressive is that Texas Instruments achieved this high standard developed for office buildings in a semiconductor manufacturing plant,” said Jill Kurtz, director of Building Sciences at Page, who consulted TI in the certification process. “By prioritizing sustainability and transparency, TI is delivering real impact in water and energy savings, leading the way in their industry and helping USGBC continue toward its goal of green buildings for everyone within this generation.”
The LEED Gold v4 certification solidifies TI’s dedication to responsible, sustainable manufacturing, including multi-year goals and programs focused on conserving natural resources, reducing energy consumption and mitigating environmental impact. To learn more about TI’s commitment to sustainability, download the company’s latest Corporate Citizenship Report.
Original – Texas Instruments