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Texas Instruments Stock Sinks On Q3 Earnings, Soft Guidance

Texas Instruments Inc (NYSE:TXN) reported financial results for the third quarter after the market close on Tuesday. Here’s a look at the key metrics from the print.

Q3 Highlights: Texas Instruments reported third-quarter revenue of $4.74 billion, beating analyst estimates of $4.65 billion. The company reported third-quarter earnings of $1.48 per share, narrowly missing analyst estimates of $1.49 per share, according to Benzinga Pro.

Total revenue climbed 14% year-over-year and 7% sequentially with growth across all end markets. Texas Instruments reported $6.9 billion in cash flow from operations over the trailing 12 months, and $2.4 billion of free cash flow over the same period.

“Over the past 12 months we invested $3.9 billion in R&D and SG&A, invested $4.8 billion in capital expenditures and returned $6.6 billion to owners,” the company said.

Texas Instruments ended the quarter with $3.31 billion in total cash and cash equivalents.

Looking Ahead: Texas Instruments expects fourth-quarter revenue of $4.22 billion to $4.58 billion versus estimates of $4.52 billion. The company anticipates third-quarter earnings in the range of $1.13 to $1.39 per share versus estimates of $1.41 per share.

Texas Instruments executives will further discuss the quarter on an earnings call with investors and analysts at 4:30 p.m. ET.

TXN Price Action: Texas Instruments shares were down 6.82% in after-hours, trading at $168.51 at the time of publication on Tuesday, according to Benzinga Pro.

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