Applied Materials Announces 1Q 2022 Results

Applied Materials, Inc. reported results for its first quarter ended Jan. 30, 2022.

Applied generated revenue of $6.27 billion. On a GAAP basis, the company achieved gross margin of 47.2%, operating income of $1.98 billion or 31.5% of net sales, and earnings per share (EPS) of $2.00.

On a non-GAAP adjusted basis, the company reported gross margin of 47.3%, operating income of $1.99 billion or 31.7% of net sales, and EPS of $1.89.
The company generated a record $2.66 billion in cash from operations and returned $2.02 billion to shareholders including $1.80 billion in share repurchases and $214 million in dividends.

“While the supply environment remains challenging, Applied Materials is doing everything we can to deliver for our customers and we recorded our highest-ever quarterly revenues,” said Gary Dickerson, president and CEO. “Our outlook for 2022 and beyond is very positive as long-term secular trends drive our markets structurally higher and Applied’s broad technology portfolio puts us in a great position to capture a larger portion of our served markets.”

In the second quarter of fiscal 2022, Applied expects net sales to be approximately $6.35 billion, plus or minus $300 million, which includes the expected impact of ongoing supply chain challenges. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.75 to $2.05.