Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. Declares quarterly cash dividend of $0.365 per share. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and illness and workforce disruptions could lead to unavailability of our key personnel and harm our ability to perform critical functions. In a rough calculation, state economist Josh Lehner estimated Intel's pay cuts could reduce Oregon's aggregate wages by $150 million to $200 million - about 0.15% of all wages statewide . Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. Gains (losses) are recognized at the close of a divestiture, or over a specified deferral period when deferred consideration is received at the time of closing. These measures have impacted and may further impact our workforce and operations, the operations of our customers, and those of our respective vendors, suppliers, and partners. But the dividend cut was necessary. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB program. Intel Corporation pays an average of $7,375 in annual employee bonuses. Reconciliations between GAAP and non-GAAP financial measures are included below.*. The earnings conference call for investors begins at 2 p.m. PDT today; a public webcast will be available at www.intc.com. Forecasting first-quarter 2023 revenue of $10.5 billion to $11.5 billion; expecting first-quarter EPS of $(0.80) (non-GAAP EPS of $(0.15)). 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 company's common stock. 5.81%. These measures have impacted and may further impact our workforce and operations, the operations of our customers, and those of our respective vendors, suppliers, and partners. It is doing this, the company says, by "reducing compensation and rewards programs for employees and executives." 2 Dividend Stocks With Yields Above 11%. $1.2 billion was returned to Intel in February 2022, and the EC has appealed this decision to the Court of Justice. In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. Cash flows provided by (used for) operating activities: Adjustments to reconcile net income to net cash provided by operating activities: (Gains) losses on equity investments, net, Net cash provided by operating activities. 0000008327 00000 n If you want to own a chip company, I'd suggest looking somewhere besides Intel. 0000010409 00000 n Making the world smarter, happier, and richer. 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. Mobileye includes the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions. 0000015904 00000 n 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. 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. 209 37 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. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB plan. _`"|Dtf+}5/0SMQ SHnt GjWg!3 X$' \O|Yj8X@~G%E(L3gyyS See section 1081(a), (b) of Pub. . Cost basis and return based on previous market day close. To learn more about Intels innovations, go to. We exclude these impairments for purposes of calculating certain non-GAAP measures because these charges do not reflect our current operating performance. . 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. Forecasting first-quarter 2023 revenue of $10.5 billion to $11.5 billion; expecting first-quarter EPS of $(0.80) (non-GAAP EPS of $(0.15)). 0000007318 00000 n 0000054097 00000 n Starting in the first quarter of 2022, we incrementally exclude from our non-GAAP results share-based compensation and all gains and losses on equity investments. 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. Mobileye continued to execute well in its core advanced driver-assistance systems (ADAS) business, as it launched systems into 233 distinct vehicle models in 2022. 0000000016 00000 n 0000020006 00000 n Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023. Invest better with The Motley Fool. Despite the economic and market headwinds, we continued to make good progress on our strategic transformation in Q4, including advancing our product roadmap and improving our operational structure and processes to drive efficiencies while delivering at the low-end of our guided range, said Pat Gelsinger, Intel CEO. Adjusted free cash flow is operating cash flow adjusted for 1) additions to property, plant and equipment, net of proceeds from capital grants and partner contributions, 2) payments on finance leases, and 3) proceeds from the McAfee equity sale. In the fourth quarter of 2022, CCGs 13th Gen Intel, In January 2023, DCAI launched its 4thGen Intel, NEX achieved a second consecutive year of double-digit revenue growth, hitting key product milestones with Intel, AXG delivered record revenue for both the fourth quarter and full year. IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. Intel continues to make progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. 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. The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com. 0000041399 00000 n Credit: REUTERS/STEVE MARCUS. Demand for our products has been and could again be materially harmed in the future, and our ability to accurately predict future demand, trends, or other matters may be impacted. // Performance varies by use, configuration and other factors. SupportAssist automatically detects and proactively alerts Dell to: operating system issues, software upgrades, driver updates and patches, malware, virus infected files, failures of hard drives, batteries, memory, internal cables, thermal sensors, heat sinks, fans, solid state drives and video cards. Full-year revenue was $63.1 billion, down 20 percent YoY and down 16 percent YoY on a non-GAAP basis. The pandemic has caused us to modify our business practices. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. Intel 7 is now in high-volume manufacturing for both client and server. 0000001639 00000 n endstream endobj 244 0 obj <>/Size 209/Type/XRef>>stream The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. INTC Capital Expenditures (TTM) data by YCharts. 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. We believe these adjustments provide investors with a useful view, through the eyes of management, of our core business model, how management currently evaluates core operational performance, and additional means to evaluate expense trends, including in comparison to other peer companies. The corresponding earnings presentation and webcast replay will also be available on the site. Second, many consumers recently upgraded their PCs within the past few years, during the pandemic. The projected non-GAAP tax rate also considers factors such as our expected tax structure, our tax positions in various jurisdictions, and key legislation in significant jurisdictions where we operate. The Motley Fool has a disclosure policy. Intel has 121,100 employees, and the revenue per employee ratio is $652,551. endstream endobj 210 0 obj <. In the fourth quarter, the company generated $7.7 billion in cash from operations and paid dividends of $1.5billion. Intel has a dividend yield of 5.81% and paid $1.46 per share in the past year. Security vulnerabilities and any limitations of, or adverse effects resulting from, mitigation techniques can adversely affect our results of operations, financial condition, customer relationships, prospects, and reputation in a number of ways, any of which may be material, including incurring significant costs related to developing and deploying updates and mitigations, writing down inventory value, a reduction in the competitiveness of our products, defending against product claims and litigation, responding to regulatory inquiries or actions, paying damages, addressing customer satisfaction considerations, or taking other remedial steps with respect to third parties. IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. In depth view into Intel Revenue (Quarterly) including historical data from 1972, charts and stats. Annual Dividend. The Motley Fool has positions in and recommends Intel. All general full-time, part-time, intern and Intel contract employees are eligible to participate. We exclude these non-operating gains and losses for purposes of calculating certain non-GAAP measures because it provides better comparability between periods. These non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans. The list of bullish arguments for Intel stock is now alarmingly low. Intel will hold a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022. You can also try the quick links below to see results for most popular searches. 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. Bonuses posted anonymously by Intel Corporation employees. 2200 Mission College Blvd. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). . We exclude the catch-up charge related to prior periods for purposes of calculating certain non-GAAP measures because this adjustment facilitates comparison to past operating results and provides a useful evaluation of our current operating performance. You can easily search the entire Intel.com site in several ways. . Intels products and software are intended only to be used in applications that do not cause or contribute to a violation of an internationally recognized human right. TTM = trailing 12 months. 0000006574 00000 n Non-GAAP earnings (loss) per sharediluted. The expected cost savings resulting from these initiatives may not be realized and are subject to risks related to the timing and amount of related charges, local labor law requirements, and assumptions related to severance, post-retirement, and other costs. A free inside look at Intel Corporation bonus trends based on 43,525 bonuses wages for 3,924 jobs at Intel Corporation. The pandemic has also previously resulted in substantial economic uncertainty and volatility and disrupted historical patterns related to demand for our products and services. 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%. INTC gross profit margin data by YCharts. %PDF-1.6 % The Warning Sign Hidden in Intel's Dividend Cut, The Intel Dividend Cut: What It Means for Investors. 0000040350 00000 n 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. Published. As of 2021, the average bonus pay in the U.S. is 11% of salary for exempt employees, 6.8% for nonexempt salaried employees, and 5.6% for hourly employees. 33% of companies in the U.S. offer year-end bonuses. 0000003058 00000 n 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. The dividend will be payable on June 1, 2021, to stockholders of record on May 7, 2021. Sept. 17, 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 company's common stock. <]>> *Effective January 2023, Intel increased the estimated useful life of certain production machinery and equipment from five years to eight years. 0000061465 00000 n All prior-period segment data has been retrospectively adjusted to reflect the way the company internally manages and monitors operating segment performance starting in fiscal year 2022. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. These adjustments facilitate a useful evaluation of our current operating performance and comparisons to past operating results. Restrictions or disruptions of transportation, or disruptions in our customers operations and supply chains, may adversely affect our results of operations. When compared to the estimated useful life in place as of the end of 2022, Intel expects total depreciation expense in 2023 to reduce by roughly $4.2 billion, including an approximate $2.6 billion increase to gross profit, a $400 million decrease in R&D expenses and a $1.2 billion decrease in 2023 ending inventory values. The change in depreciable life will not be counted toward the $3 billion in cost savings in 2023 or the $8 billion to $10 billion exiting 2025 communicated at Q3 2022 earnings. RT=Real-Time, EOD=End of Day, PD=Previous Day. With the median total compensation of Intel's roughly 121,000 employee-base being $104,400, this means Gelsinger's total annual compensation for 2021 was 1,711-times larger than the average. Market Data copyright 2023 QuoteMedia. 0000002964 00000 n However, a company's employees are among its most vital resources. Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Most Recent Quarter Revenue. 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. We or third parties regularly identify security vulnerabilities with respect to our processors and other products as well as the operating systems and workloads running on them. Full-year EPS was $1.94; non-GAAP EPS was $1.84. Mobileye includes the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions. Intel 7 is now in high-volume manufacturing for both client and server. The primary driver of this demand evaporation is an atrocious PC market. Accordingly, the consumer graphics teams will join CCG, and the accelerated computing teams will join DCAI. If you treat them right, you'll get the most out of them. first-quarter 2022 revenue was down 7% from 2021). Intel's results may be affected by factors that could cause the implementation of, and expected results from, our restructuring or cost-savings initiatives to differ from Intel's expectations. Of advanced driver-assistance systems ( ADAS ) and autonomous driving technologies and solutions the design and manufacturing semiconductors. The most out of them, and richer our products and services systems! 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