Texas Instruments (TXN) Tops Q4 EPS by 46c, Revenues Beat

Texas Instruments (NASDAQ: TXN) reported Q4 EPS of $1.80, $0.46 better than the analyst estimate of $1.34. Revenue for the quarter came in at $4.08 billion versus the consensus estimate of $3.6 billion.

Regarding the company's performance and returns to shareholders, Rich Templeton, TI's chairman, president and CEO, made the following comments:

• "Revenue increased 7% sequentially, driven by strong demand in automotive, personal electronics and industrial markets. Revenue increased 22% from the same quarter a year ago.
• "In our core businesses, Analog revenue grew 9% and Embedded Processing grew 11% sequentially. From a year ago, Analog revenue grew 25% and Embedded Processing grew 14%.
• "Our cash flow from operations of $6.1 billion for the year again underscored the strength of our business model. Free cash flow for the year was $5.5 billion and 38% of revenue. This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter Analog production.
• "We returned $6.0 billion to owners in 2020 through dividends and stock repurchases. For the year, our dividend represented 62% of free cash flow, underscoring its sustainability. Together, our dividends and stock repurchases reflect our continued commitment to return all free cash flow to our owners.
• "TI's first quarter outlook is for revenue in the range of $3.79 billion to $4.11 billion and earnings per share between $1.44 and $1.66. We continue to expect our 2021 annual operating tax rate to be about 14%."

For earnings history and earnings-related data on Texas Instruments (TXN) click here.

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