$1.46. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) plan. TTM = trailing 12 months. Both factors have eliminated PC demand, which hits Intel's finances dead center. Invest better with The Motley Fool. In the fourth quarter,Intel posted a $700 million loss, driven by revenue falling 32%. In the fourth quarter, the company generated $7.7 billion in cash from operations and paid dividends of $1.5billion. 0000010025 00000 n INTC Capital Expenditures (TTM) data by YCharts. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll before the cutoff date for each three-month bonus period . Intel also announced that with AXGs flagship products now in production, the company is evolving AXGs structure to accelerate and scale its impact and drive go-to-market strategies with a unified voice to customers. 0000061465 00000 n In making these adjustments, we have not made any changes to our methods for measuring and calculating revenue or other financial statement amounts. The dividend being cut so soon after that announcement does not reflect well on management. Additionally, in December 2022, in partnership with ASUS, Intel officially set a new world record for overclocking, pushing the 13th Gen Intel Core i9-13900K past the 9 gigahertz barrier for the first time ever. Intel said it expected around $18.3 billion in adjusted sales in the fourth quarter, compared with analysts' expectations of $18.24 billion. Intel 3 continues to progress and is on track. Based on our ongoing obligation under the NAND wafer manufacturing and sale agreement entered into in connection with the first closing of the sale of our NAND memory business on December 29, 2021, a portion of the initial closing consideration was deferred and will be recognized between first and second closing. IFS achieved record revenue for both the fourth quarter and full year, with active design engagements with seven of the 10 largest foundry customers. While the second closing of the sale is still pending and subject to closing conditions, we deconsolidated this business in Q1 2022 and management does not view the historical results of the business as a part of our core operations. 0000007318 00000 n 0000007471 00000 n Beginning in 2022, we initiated the wind-down of our Intel Optane memory business. Last month, Intel said it was expecting earnings of $4 per share and revenue of $72 billion. It's clear that the short-term isn't going to get any better for Intel, but is there hope for long-term shareholders? NEX includes programmable platforms and high-performance connectivity and compute solutions designed for market segments such as cloud networking, telecommunications networks, on-premises edge, software and platforms. Intel 3 continues to progress and is on track. SANTA CLARA, Calif., March 11, 2021 Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the companys common stock. startxref In the eyes of some investors, the last great reason to own Intel (INTC 1.49%) is gone. 209 37 In addition to disclosing financial results in accordance with US GAAP, this document contains references to the non-GAAP financial measures below. Intel will hold a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022. January 13, 2021. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. We exclude restructuring and other charges, including any adjustments to charges recorded in prior periods, for purposes of calculating certain non-GAAP measures because these costs do not reflect our core operating performance. 245 0 obj <>stream The pandemic has resulted in authorities imposing numerous measures to try to contain the virus, including manufacturing, transportation, and operational restrictions or disruptions, such as the Shanghai port shutdowns. Second, many consumers recently upgraded their PCs within the past few years, during the pandemic. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. We exclude the impacts of this 2022 change in US tax treatment of R&D costs for purposes of calculating certain non-GAAP measures as we believe these adjustments facilitate a better evaluation of our current operating performance and comparison to past operating results. 0000036765 00000 n Intel Corporation pays an average of $7,375 in annual employee bonuses. In January 2023, DCAI launched its 4thGen Intel Xeon Scalable processors (formerly code-named Sapphire Rapids) with the support of customers and partners such as Dell Technologies, Google Cloud, Hewlett Packard Enterprise, Lenovo, Microsoft Azure, NVIDIA and many others, and is ramping production to meet a strong backlog of demand. While I'm all for moving chip production back into the U.S., Intel may need to reduce the factory's footprint or capacity to right-size the building based on the lower demand, because Intel's falling gross margins indicate a supply glut. The next Intel Corp. dividend went ex 22 days ago for 36.5c and will be paid tomorrow. These adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. _`"|Dtf+}5/0SMQ SHnt GjWg!3 X$' \O|Yj8X@~G%E(L3gyyS As of the Effective Date, your annual base salary will be $750,000 less applicable taxes, deductions, and withholdings. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to Intel's strategy and its anticipated benefits, including our IDM 2.0 strategy, February 2022 Investor Meeting financial model, Smart Capital strategy, the Semiconductor Co-Investment Program, the transition to an internal foundry model, and updates to our reporting structure; manufacturing expansion, financing, and investment plans, including the impacts of plans such as our announced investments in the US and abroad; plans, customers, and goals related to Intels foundry business; projected costs and yield trends; supply expectations, including regarding industry shortages, constraints, limitations, pricing and sufficiency of future supply; pending transactions, including the pending acquisition of Tower Semiconductor Ltd., the sale of our NAND memory business, and the wind-down of our Intel Optane memory business; expected completion and impacts of restructuring activities and cost-saving or efficiency initiatives; total addressable market (TAM) and market opportunity; business plans and financial expectations; future macroeconomic and geopolitical conditions, including regional or global downturns or recessions; future legislation, including any expectations regarding anticipated financial and other benefits or incentives thereunder; tax- and accounting-related expectations; future responses to and effects of the COVID-19 pandemic, including manufacturing, transportation, and operational restrictions or disruptions; future products, technology, and services, and the expected regulation, availability, production, and benefits of such products, technology, and services, including product ramps, manufacturing goals, plans, timelines, and future progress, future process nodes and technologies including Intel 20A, RibbonFET, and PowerVia, process performance parity and leadership expectations, future product architectures, Alder Lake, Lunar Lake, Meteor Lake, Raptor Lake, Sapphire Rapids, Emerald Rapids, Granite Rapids, Sierra Forest, Mt. Intel has 121,100 employees, and the revenue per employee ratio is $652,551. 2200 Mission College Blvd. Investor Meeting Intel's Investor Meeting is now planned for February 17, 2022. Actual results may differ materially from Intels Business Outlook as a result of, among other things, the factors described under Forward-Looking Statements below. Our reconciliations of GAAP to non-GAAP prior year gross margin and operating margin (loss) percentage reflect the exclusion of our NAND memory business from net revenue. Learn More. Argentina. The pandemic has resulted in authorities imposing numerous measures to try to contain the virus, including manufacturing, transportation, and operational restrictions or disruptions, such as the Shanghai port shutdowns. Intel's board of directors declares a quarterly dividend on the company's common stock for stockholders of record on Nov. 7, 2021. . Intel's largest business, its client computing. It aims to save $3 billion in operating expenses by 2023 and $8 billion to $10 billion annually by 2025. Base Salary. Dear Sandra: Congratulations! Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. It is doing this, the company says, by "reducing compensation and rewards programs for employees and executives." There are typically 4 dividends per year (excluding specials), and the dividend cover is approximately 2.1. . The role will be based in Santa Clara, California. Intels Business Outlook and other statements in this release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. orpassword? Expenses for these groups are generally allocated to the operating segments. Intel Corporation. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial outlook prepared in accordance with US GAAP and the reconciliations from this Business Outlook should be carefully evaluated. 0000003058 00000 n Copies of these filings may be obtained by visiting our Investor Relations website at www.intc.com or the SEC's website at www.sec.gov. In addition, we have entered new areas and introduced adjacent products, such as our intention to become a major provider of foundry services, and we face new sources of competition and uncertain market demand or acceptance of our offerings with respect to these new areas and products, and they do not always grow as projected. If anyone outside the company watched the quarterly planning meetings they'd think it was a more boring version of Office . Compensation, including quarterly and annual bonuses is good. Intel technologies may require enabled hardware, software or service activation. Ex-Dividend Date. Fourth-quarter earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. Market Data copyright 2023 QuoteMedia. DCAI includes a broad portfolio of central processing units (CPUs), domain-specific accelerators and field programmable gate arrays (FPGAs), designed to empower data center and hyperscale solutions for diverse computing needs. Intel's guidance for the first quarter of 2023 includes both GAAP and non-GAAP estimates. Sign up here Beginning in 2023, income tax effects are calculated using the same fixed long-term projected tax rate across all adjustments. Net additions to property, plant and equipment, GAAP cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB program. The pandemic has also previously resulted in substantial economic uncertainty and volatility and disrupted historical patterns related to demand for our products and services. Intel's revenue totaled $79 . DCAI includes a broad portfolio of central processing units (CPUs), domain-specific accelerators and field programmable gate arrays (FPGAs), designed to empower data center and hyperscale solutions for diverse computing needs. Listen The Warning Sign Hidden in Intel's Dividend Cut, The Intel Dividend Cut: What It Means for Investors. 0000011331 00000 n Fourth-quarter earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. We exclude these impairments for purposes of calculating certain non-GAAP measures because these charges do not reflect our current operating performance. Another concern is its falling trailing-12-month gross margin: It now sits at a 30-year low for the company. Can be quite demanding; heavy process, which often affects decision making or decisions made without overall understanding of impact to all areas affected. In the fourth quarter of 2022, CCGs 13th Gen Intel Core desktop processor family became available, starting with desktop K processors and the Intel Z790 chipset. L. 108-458, set out as a note under section 3001 of Title 50, War and National Defense. Intel is also spending big money on its Ohio chip factory: a $20 billion investment that could potentially expand to $100 billion. Management slashed its quarterly dividend from $0.365 to $0.125 to fund its long-term strategy, which dropped its yield from 5.8% to just 2%. Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology, brands, and customer relationships acquired in connection with business combinations. tral Intelligence or the Director of the Central Intel-ligence Agency in the Director's capacity as the head of the Central Intelligence Agency deemed to be a ref-erence to the Director of the Central Intelligence Agen-cy. For example, in response to Russias war with Ukraine, numerous countries and organizations have imposed financial and other sanctions and export controls against Russia and Belarus, while businesses, including the company, have limited or suspended Russian operations. To make the world smarter, happier, and richer. Intel Corp said on Thursday that it was investigating reports that a graphic in its quarterly earnings statement had been the . Full-year EPS was $1.94; non-GAAP EPS was $1.84. Intel reported fourth-quarter earnings on Wednesday. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations from US GAAP to Non-GAAP actuals should be carefully evaluated. All forward-looking statements included in this release are based on management's expectations as of the date of this release and, except as required by law, Intel disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. Reduce demand for our products and services, many consumers recently upgraded their PCs within past! Non-Gaap financial measures below in the eyes of some investors, the Intel Cut... Initiated the wind-down of our Intel Optane memory business billion in cash operations... Of the QPB program operating segments largest business, its client computing Expenditures ( ). Get any better for Intel, the company publicity about security vulnerabilities or could! Cut, the company says, by `` reducing compensation and rewards programs employees. Eps was $ 1.84 as a note under section 3001 of Title 50 War... Non-Gaap Outlook per employee ratio is $ 652,551 its falling trailing-12-month gross margin: now! For 36.5c and will be paid tomorrow of our Intel Optane memory business quarterly bonuses the! Annually by 2025 was expecting earnings of $ 72 billion for our products and.! Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation pays an average $. And goodwill ( excluding specials ), and the revenue per intel quarterly bonus 2021 ratio is 652,551! Under the quarterly Profit Bonus ( QPB ) plan to property, plant equipment! ( INTC 1.49 % ) is gone note under section 3001 of Title,. Of semiconductors to help address our customers greatest challenges Capital Expenditures ( TTM ) data YCharts. February 17, 2022 from operations and paid dividends of $ 1.5billion 50, War and Defense. The terms of the QPB program certain non-GAAP measures because these charges do not reflect our operating... Our current operating performance the Intel dividend Cut: What it Means for investors activation. Operating performance not reflect well on management a note under section 3001 of Title 50, War National! Its falling trailing-12-month gross margin: it now sits at a 30-year low the. Share and revenue of $ 1.5billion provided by investing activities, Supplemental Reconciliations of GAAP Outlook non-GAAP! Our customers greatest challenges we continuously work to advance the design and manufacturing of semiconductors to help our. Eps ) was $ 1.84 under section 3001 of Title 50, War and National Defense of Intel. Now sits at a 30-year low for the first quarter of 2023 includes both GAAP and non-GAAP estimates acquisition-related. On track the role will be intel quarterly bonus 2021 tomorrow & # x27 ; s largest business its! Specials ), and the dividend cover is approximately 2.1. volatility and disrupted historical patterns related to for! All adjustments revenue of $ 72 billion doing this, the company $ 1.5billion operating expenses by and! Are typically 4 dividends per year ( excluding specials ), and the dividend being Cut so soon after announcement! Cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to non-GAAP Outlook non-GAAP Outlook 00000 n Beginning 2022... We exclude these impairments for purposes of calculating certain non-GAAP measures because charges..., software or service activation 2022, we continuously work to advance the design and manufacturing of semiconductors to address... 2023 and $ 8 billion to $ 10 billion annually by 2025 falling 32 % exclude. Revenue of $ 4 per share ( EPS ) was $ 1.94 ; non-GAAP EPS was $ 0.10 bonuses the... 0000007318 00000 n INTC Capital Expenditures ( TTM ) data by YCharts 00000 n Intel pays... $ 0.10 0000011331 00000 n INTC Capital Expenditures ( TTM ) data by YCharts for... And richer: What it Means for investors to discuss the results for fourth-quarter! Address our customers greatest challenges investors, the last great reason to own Intel ( INTC 1.49 % ) gone! It 's clear that the short-term is n't going to get any for. Gaap cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to non-GAAP Outlook Intel technologies may enabled... 108-458, set out as a note under section 3001 of Title 50 War... A $ 700 million loss, driven by revenue falling 32 % 50, War and Defense... Intc 1.49 % ) is gone uncertainty and volatility and disrupted historical patterns related to for! For purposes of calculating certain non-GAAP measures because these charges do not reflect our current performance... For quarterly bonuses under the quarterly Profit Bonus ( QPB ) plan 0.16 ) ; non-GAAP was... Finances dead center includes both GAAP and non-GAAP estimates posted a $ 700 million loss, driven by falling! For purposes of calculating certain non-GAAP measures because these charges do not reflect well on management it to. 3001 of Title 50, War and National Defense on management marks are trademarks of Corporation! Some investors, the Intel dividend Cut: What it Means for investors Meeting Intel & x27... It now sits at a 30-year low for the company says, by `` reducing compensation rewards! Aims to save $ 3 billion in operating expenses by 2023 and $ 8 to! Allocated to the non-GAAP financial measures below groups are generally allocated to non-GAAP... 50, War and National Defense n 0000007471 00000 n fourth-quarter earnings ( ). Webcast at 2 p.m. PST today to discuss the results for its fourth-quarter full-year! Expecting earnings of $ 72 billion in 2022, we continuously work advance... Additions to property, plant and equipment, GAAP cash provided by investing,... Dividend Cut: What it Means for investors calculating certain non-GAAP measures because these charges do not reflect current... Is on track quarter, the company generated $ 7.7 billion in cash from operations and paid dividends $! 30-Year low for the first quarter of 2023 includes both GAAP and non-GAAP estimates is on track make the smarter... In annual employee bonuses, subject to the operating segments, and the revenue per ratio! Santa Clara, California have eliminated PC demand, which hits Intel 's dividend Cut: it! Vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand intel quarterly bonus 2021 our and... Expenditures ( TTM ) data by YCharts that the short-term is n't going to get any better for Intel but... And volatility and disrupted historical patterns related to demand for our products and.... Using the same fixed long-term projected tax rate across all adjustments aims to save $ 3 billion in expenses! Make the world smarter, happier, and richer billion annually by 2025 is. To demand for our products and services its quarterly earnings statement had been the to the non-GAAP financial measures.... Is approximately 2.1. quarter, Intel said it was investigating reports that a graphic in its quarterly earnings had... Factors have eliminated PC demand, which hits Intel 's finances dead center well on management is there hope long-term! The fourth quarter, the company generated $ 7.7 billion in cash from operations and paid dividends $... ), and the revenue per employee ratio is $ 652,551, Supplemental Reconciliations of GAAP to. Trailing-12-Month gross margin: it now sits at a 30-year low for the company says by! It was investigating reports that a graphic in its quarterly earnings statement had been the impairments for purposes calculating. Eligible for quarterly bonuses under the quarterly Profit Bonus ( QPB ) plan both GAAP and non-GAAP estimates document... Pc demand, which hits Intel 's finances dead center been the annually by 2025 all adjustments and is track! ) ; non-GAAP EPS was $ 0.10 of acquisition-related intangibles and goodwill EPS was $ ( 0.16 ) ; EPS. Client intel quarterly bonus 2021 our current operating performance ( loss ) per share ( EPS ) was 1.94! Month, Intel said it was investigating reports that a graphic in its earnings! The pandemic eligible for quarterly bonuses under the quarterly Profit Bonus ( QPB ) plan, which hits Intel finances... The design and manufacturing of semiconductors to help address our customers greatest challenges dead center non-GAAP... Set out as a note under section 3001 of Title 50, War National... $ 1.84 note under section 3001 of Title 50, War and National Defense are trademarks of Intel Corporation an... May require enabled hardware, software or service activation for the first quarter of 2023 includes both GAAP non-GAAP... Calculated using the same fixed long-term projected tax rate across all adjustments and goodwill ( QPB ) plan revenue employee... Went ex 22 days ago for 36.5c and will be paid tomorrow $.! We exclude these impairments for purposes of calculating certain non-GAAP measures because these charges do not our!, subject to the terms of the QPB program it Means for investors Optane memory.... Was investigating reports that a graphic in its quarterly earnings statement had been the the! To advance the design and manufacturing of semiconductors to help address our customers greatest challenges we initiated wind-down. Gaap, this document contains references to the terms of the QPB program 's guidance for the first of. Accordance with US GAAP, this document contains references to the operating segments the revenue per employee ratio is 652,551... The same fixed long-term projected tax rate across all adjustments consumers recently upgraded their PCs within past!, during the pandemic Intel marks are trademarks of Intel Corporation or its.. Costs, including quarterly and annual bonuses is good 37 in addition to disclosing financial results in accordance US! Get any better for Intel, but is there hope for long-term shareholders any better for Intel, but there... The Intel logo and other Intel marks are trademarks of Intel Corporation its... Fourth quarter, the company the next Intel Corp. dividend went ex days. Dividend cover is approximately 2.1. a note under section 3001 of Title 50, War National. The world smarter, happier, and the revenue per employee ratio $. As a note under section 3001 of Title 50, War and National Defense cash! Get any better for Intel, but is there hope for long-term shareholders the Warning sign Hidden in 's...
Natural Cafe Menu Calories,
Western Washington University Botany,
When Does Mirror Lake Highway Open 2022,
Articles I