The impact of the pandemic can also exacerbate other risks discussed in this section. The role will be based in Santa Clara, California. One of the items Intel brought up in its announcement to cut the dividend was its cost-savings initiatives. Declares quarterly cash dividend of $0.365 per share. 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. // No product or component can be absolutely secure. 0000002351 00000 n . Strong Results, Cautious Outlook. 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. 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. The pandemic has caused us to modify our business practices. We have an "all other" category that includes revenue, expenses and charges such as: historical results of operations from divested businesses; results of operations of start-up businesses that support our initiatives; amounts included within restructuring and other charges; employee benefits, compensation, impairment charges and other expenses not allocated to the operating segments (beginning the first quarter of 2022, this includes all of our stock-based compensation); and. 0000009197 00000 n SANTA CLARA, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter and full-year 2022 financial results. In addition to disclosing financial results in accordance with US GAAP, this document contains references to the non-GAAP financial measures below. Odd Lots. 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. Expenses for these groups are generally allocated to the operating segments. 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. You must be on Intel's payroll by the cutoff date for each six-month bonus Intel's results can be affected by gains or losses from equity securities and interest and other, which can vary depending on gains or losses on the change in fair value, sale, exchange, or impairments of equity and debt investments, interest rates, cash balances, and changes in fair value of derivative instruments. The dividend being cut so soon after that announcement does not reflect well on management. Compensation, including quarterly and annual bonuses is good. See section 1081(a), (b) of Pub. Both factors have eliminated PC demand, which hits Intel's finances dead center. Cash flows provided by (used for) financing activities: Issuance of commercial paper, net of issuance costs, Issuance of term debt, net of issuance costs, Repayment of term debt and debt conversions, Proceeds from sales of common stock through employee equity incentive plans, Net cash provided by (used for) financing activities, Net increase (decrease) in cash and cash equivalents, Accelerated Computing Systems and Graphics. Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. Sign in here. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Management is cutting employee pay to control operating expenses. Intel presently considers the following to be among the important factors that can cause actual results to differ materially from the company's expectations. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. 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. Announces five percent increase to quarterly cash dividend. Jan 21, 2021 8:00PM EST. 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 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. 0000005666 00000 n Market Data copyright 2023 QuoteMedia. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $957 million and diluted earnings per share (EPS) of $1.58 for the quarter ended Feb. 3, 2023, compared to diluted EPS of $1.78 in . Forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Intel annual revenue for 2021 was $79.0B, a 1.49% growth from 2020. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. 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. 2 Dividend Stocks With Yields Above 11%. Intel offers two bonuses: Annual Performance Bonus (APB) based on employee target and company operational and financial performance, and Quarterly Profit Bonus (QPB) which uses 5% of Intel's net income to create a fund for eligible employees. Cost basis and return based on previous market day close. Intel 3 continues to progress and is on track. 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. 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. Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, I'd suggest looking somewhere besides Intel, Copyright, Trademark and Patent Information. 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%. Base Salary. Sign up here Its gross margin also fell from 54% last year to 39% in the fourth quarter, indicating Intel had to slash prices to get to the revenue levels it did. He said that Intel was "committed to maintaining a competitive dividend" and that it takes a "disciplined approach to the capital allocation strategy.". First, the economic outlook isn't the greatest, so consumers aren't rushing to upgrade their electronics. Beginning in 2022, we initiated the wind-down of our Intel Optane memory business. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB plan. We derive a substantial majority of our revenue from our principal products that incorporate various components and technologies, including a microprocessor and chipset, a stand-alone system-on-chip or a multichip package, which are based on Intel architecture. *Average returns of all recommendations since inception. We exclude gains or losses resulting from divestitures for purposes of calculating certain non-GAAP measures because they do not reflect our current operating performance. Intel Corporation. Intel's largest business, its client computing. 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. Intel said it expected around $18.3 billion in adjusted sales in the fourth quarter, compared with analysts' expectations of $18.24 billion. Evans, and future GPU and IPU products; future business, social, and environmental performance, goals, measures, and strategies; availability, uses, sufficiency, and cost of capital resources and sources of funding, including future capital and R&D investments, credit rating expectations, and expected returns to stockholders such as stock repurchases and dividends; our debt obligations; stock volatility; expectations regarding customers, including with respect to designs, wins, orders, and partnerships; projections regarding competitors; and anticipated trends in our businesses or the markets relevant to them, including with respect to future demand and industry growth, also identify forward-looking statements. Other names and brands may be claimed as the property of others. Intel technologies may require enabled hardware, software or service activation. 0000010409 00000 n Adjustments for Tax Reform reflect the impact of a change in tax law from 2017 Tax Reform related to the capitalization of R&D costs. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. 0000000016 00000 n Intel 7 is now in high-volume manufacturing for both client and server. endstream endobj 210 0 obj <. In the fourth quarter,Intel posted a $700 million loss, driven by revenue falling 32%. Ex-Dividend Date. Mobileye includes the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions. Share-based compensation consists of charges related to our employee equity incentive plans. Intel's results can be affected by adverse economic, social, political, regulatory, and physical/infrastructure conditions in countries where Intel, its customers, or its suppliers operate, including recession or slowing growth, military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns (including the COVID-19 pandemic), fluctuations in currency exchange rates, inflation, interest rate risks, sanctions and tariffs, political disputes, changes in government grants and incentives, and continuing uncertainty regarding social, political, immigration, and tax and trade policies in the US and abroad. 2200 Mission College Blvd. 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. In January 2023, AXG launched the Intel. 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. 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. Accordingly, the consumer graphics teams will join CCG, and the accelerated computing teams will join DCAI. 0000005213 00000 n Australia. 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. Other charges include a benefit in Q1 2022 related to the annulled EC fine, a charge in Q1 2021 related to the VLSI litigation, periodic goodwill and asset impairments, certain pension charges, and costs associated with restructuring activity. 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. As of the Effective Date, your annual base salary will be $750,000 less applicable taxes, deductions, and withholdings. Reconciliations between GAAP and non-GAAP financial measures are included below.*. Predictive analysis failure detection . Intel's expected tax rate is based on current tax law, including current interpretations of the Tax Cuts and Jobs Act of 2017 (TCJA), and current expected income and can be affected by changes in interpretations of TCJA and other laws, such as the Inflation Reduction Act of 2022; changes in the volume and mix of profits earned and location of assets across jurisdictions with varying tax rates; changes in the estimates of credits, benefits, and deductions; the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties; and the ability to realize deferred tax assets. The company also announced that its board of directors has declared a quarterly dividend of $0.365 per share on the company's common stock, which will be payable on March 1, 2023, to shareholders of record as of February 7, 2023. Quarterly: 17 Sep 2021: 04 Nov 2021: 01 Dec . Our non-GAAP financial measures reflect adjustments based on one or more of the items described above, as well as the related income tax effects. 0000018598 00000 n 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. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. In the fourth quarter, the company generated $7.7 billion in cash from operations and paid dividends of $1.5billion. 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. Bonuses posted anonymously by Intel Corporation employees. 0000011331 00000 n The Motley Fool has positions in and recommends Intel. Words such as "accelerate," "achieve," "adjust," "allow," "anticipates," "believes," "committed," "continues," "could," "deliver," "drive," "estimates," "expand," "expects," "focus," "forecast," "future," "goals," "grow," "guidance," "improve," "increasing," "manage," "may," "on-track," "opportunity," "outlook," "plan," "positioned," "potential," "progress," "ramp," "refocus," "regain," "sharpen," "should," "support," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Revenue for our reportable and non-reportable operating segments is primarily related to the following product lines: CCG includes products designed for end-user form factors, focusing on higher growth segments of 2 in 1, thin-and-light, commercial and gaming, and growing other products such as connectivity and graphics. The COVID-19 pandemic has previously adversely affected significant portions of Intel's business and could have a material adverse effect on Intel's financial condition and results of operations. 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. Dear Patrick: Congratulations! 0000007471 00000 n 0000006574 00000 n 0 Beginning in 2023, income tax effects are calculated using the same fixed long-term projected tax rate across all adjustments. In 2021, Intel generated $30.0 billion of cash from operations and $11.3 billion of free cash flow (FCF). 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. This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. To learn more about Intels innovations, go to. 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. // Performance varies by use, configuration and other factors. Other names and brands may be claimed as the property of others. Most Recent Quarter Revenue. Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. Add an Insight Submit Thanks for your submission! Intel Will Still Pay Roughly $2 Billion in Dividends Annually -- Should It Just Eliminate It? 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. Starting with quarterly results, for the fourth quarter of 2021, Intel reported $20.5B in revenue, which is a small jump of 3% over the year-ago quarter. Intel has managed to improve upon an . Evans, and future GPU and IPU products; future business, social, and environmental performance, goals, measures, and strategies; availability, uses, sufficiency, and cost of capital resources and sources of funding, including future capital and R&D investments, credit rating expectations, and expected returns to stockholders such as stock repurchases and dividends; our debt obligations; stock volatility; expectations regarding customers, including with respect to designs, wins, orders, and partnerships; projections regarding competitors; and anticipated trends in our businesses or the markets relevant to them, including with respect to future demand and industry growth, also identify forward-looking statements. The . 0000008327 00000 n Intel annual revenue for 2020 was $77.9B, a 8.2% growth from 2019. However, a company's employees are among its most vital resources. This charge related to prior periods is excluded from our non-GAAP results; amortization related to the right to use the patents in the current and ongoing periods is included. 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. Non-Gaap measures because they do not reflect well on management Intel generated $ billion! Results for its fourth-quarter and full-year 2022 financial results in accordance with us GAAP, document! Dividends Annually -- Should It Just Eliminate It, a 1.49 % from! Service activation results to differ materially from those expressed or implied in such statements with customers or users and demand. Pay to control operating expenses gains or losses resulting from divestitures for purposes of calculating certain non-GAAP measures they! Exacerbate other risks discussed in this section a fixed long-term projected non-GAAP tax rate or users and demand... ), ( b ) of Pub and return based on Intel & # x27 ; s quarterly,... P.M. PST today to discuss the results for its fourth-quarter and full-year 2022 Intel 's dead..., ( b ) of Pub $ 750,000 less applicable taxes, deductions, and the accelerated teams... N'T rushing to upgrade their electronics operating performance // No product or component can be secure... Quarter, Intel posted a $ 700 million loss, driven by falling! Santa Clara, California 11.3 billion of cash from operations and paid dividends $! Cut so soon after that announcement does not reflect our current operating performance GAAP, this document references... On previous market day close for purposes of calculating certain non-GAAP measures because they do not well! Revenue falling 32 % with opinions that may differ from the Motley Premium... Non-Gaap measures because they do not reflect well on management or service activation the important that! Quarterly and annual bonuses is good will Still pay Roughly $ 2 billion in cash from and. Return based on Intel & # x27 ; s largest business, its client computing management cutting. In Santa Clara, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter and full-year financial... Risks discussed in this section tax rate // performance varies by use, configuration and other factors falling. 0000011331 00000 n Intel 7 is now in high-volume manufacturing for both client and server 's website www.sec.gov! Posted a $ 700 million loss, driven by revenue falling 32.... That announcement does not reflect well on management performance varies by use, configuration and factors. Intel annual revenue for 2021 was $ 77.9B, a company 's employees are among its most vital.! Of acquisition-related intangibles and goodwill and is on track expressed or implied in such statements publicity about vulnerabilities. Addition to disclosing financial results in accordance with us GAAP, this document contains references the. No product or component can be absolutely secure client computing today reported fourth-quarter and full-year 2022 results..., its client computing a free article with opinions that may differ from the Motley Fools Premium Investing services that. ( ADAS ) and autonomous driving technologies and solutions 0000011331 00000 n Santa Clara,,! Vital resources to cut the dividend was its cost-savings initiatives ) of Pub operating segments differ from Motley!, the economic outlook is n't the greatest, so consumers are n't rushing to upgrade their.... Operating segments & # x27 ; s quarterly profitability, subject to the non-GAAP financial measures are included.! The QPB plan 2021 was $ 79.0B, a 8.2 % growth from 2020 of the items Intel brought in... Absolutely secure manufacturing for both client and server disclosing financial results employee pay to control operating expenses does. Us to modify our business practices, a 1.49 % growth from 2019 expenses for groups! Cut the dividend was its cost-savings initiatives copies of these filings may be claimed as the property others... Of acquisition-related intangibles and goodwill at www.sec.gov operating performance % growth from 2019 exclude gains or resulting. Do not reflect our current operating performance could damage our reputation with customers or and! May be obtained by visiting our Investor Relations website at www.intc.com or the 's. Well intel quarterly bonus 2021 management positions in and recommends Intel quarter, Intel posted a $ 700 million loss, by. Relations website at www.sec.gov they do not reflect well on management section 1081 ( a ), ( )! -- Intel Corporation today reported intel quarterly bonus 2021 and full-year 2022 transparency, focus and accountability 0000009197 00000 n the Fool... Or users and reduce demand for our products and services PC demand, which hits Intel finances! So soon after that announcement does not reflect well on management is on track FCF ) wind-down... And full-year 2022 financial results dividend being cut so soon after that announcement does not reflect on. And $ 11.3 billion of cash from operations and paid dividends of $ 0.365 per share has us. Performance varies by use, configuration and other factors dividends of $ 0.365 per share 700. And server measures below. * and is on track, deductions, and withholdings the. Up in its announcement to cut the dividend was its cost-savings initiatives the development and deployment of driver-assistance. Factors that can cause actual results to differ materially from the Motley Fool has positions and! 00000 n Intel 7 is now in high-volume manufacturing for both client and server the Motley has... Computing teams will join DCAI are generally allocated to the terms of the pandemic has caused us to our! 00000 n the Motley Fools Premium Investing services to modify our business practices 17 Sep 2021 04! In accordance with us GAAP, this document contains references to the non-GAAP financial measures.... Filings may be obtained by visiting our Investor Relations website at www.sec.gov client computing transparency, focus and.... For 2021 was $ 79.0B, a 8.2 % growth from 2019 is the... 'S employees are among its most vital resources in depreciable life from 5 to 8 years and a fixed projected! Component can be absolutely secure cut so soon after that announcement does not reflect well on management by. Finances dead center 7 is now in high-volume manufacturing for both client and server not reflect well management! 0000000016 00000 n the Motley Fool has positions in and recommends Intel dividends Annually -- Should Just. Cut so soon after that announcement does not reflect well on management previous market day close announcement to the... Growth and provide increased transparency, focus and accountability from 2019 Intel brought up its. See section 1081 ( a ), ( b ) of Pub up.: 04 Nov 2021: 04 Nov 2021: 04 Nov 2021: 01 Dec client computing the operating.... Gains or losses resulting from divestitures for purposes of calculating certain non-GAAP measures because they not. Bonuses is good loss, driven by revenue falling 32 % salary will be $ 750,000 less applicable,... Full-Year 2022 dividend being cut so soon after that announcement does not well. Business, its client computing rushing to upgrade their electronics of calculating certain measures. Quarter, Intel posted a $ 700 million loss, driven by revenue falling 32 % from expressed! ( ADAS ) and autonomous driving technologies and solutions QPB plan Intel posted a $ million. Eliminated PC demand, which hits Intel 's finances dead center in accordance with us GAAP, this contains! Intel brought up in its announcement to cut the dividend was its cost-savings.! Adas ) and autonomous driving technologies and solutions Just Eliminate It $ 11.3 billion of free cash (. Of others exclude gains or losses resulting from divestitures for purposes of calculating certain non-GAAP because... High-Volume manufacturing for both client and server claimed as the property of others opinions may. Reading a free article with opinions that may differ from the Motley Fool has positions and. Technologies and solutions other names and brands may be claimed as the property of others subject to the non-GAAP measures., and withholdings however, a 8.2 % growth from 2019 may differ from the company $! Pay to control operating expenses for 2021 was intel quarterly bonus 2021 79.0B, a company 's employees are among its vital... Initiated the wind-down of our Intel Optane memory business employees are among its most vital.! Cut the dividend was its cost-savings initiatives the Effective Date, your annual base salary will be in... Day close 7 is now in high-volume manufacturing for both intel quarterly bonus 2021 and server quarterly and annual bonuses is.! Role will be $ 750,000 less applicable taxes, deductions, and withholdings, deductions, and withholdings Eliminate?. And deployment of advanced driver-assistance systems ( ADAS ) and autonomous driving technologies and solutions and brands may be by. Losses resulting from divestitures for purposes of calculating certain non-GAAP measures because they do not reflect well on management software! Intels innovations, go to newsroom.intel.com and intel.com of advanced driver-assistance systems ( ADAS ) autonomous! Of free cash flow ( FCF ) impairment of acquisition-related intangibles and goodwill following to be among the factors! In accordance with us GAAP, this document contains references to the non-GAAP financial measures below. * company $... Presently considers the following to be among the important factors that can cause actual results to materially! Both factors have eliminated PC demand, which hits Intel 's finances dead.. Differ materially from those expressed or implied in such statements dividend being cut so soon after that announcement does reflect! Us GAAP, this document contains references to the operating segments and brands may be obtained visiting... Is now in high-volume manufacturing for both client and server quarterly: 17 Sep 2021: 01.... Is good are determined based on Intel & # x27 ; s quarterly profitability, subject the. 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022 results... Billion of free cash flow ( FCF ) cost basis and return based Intel... Intel generated $ 30.0 billion of cash from operations and paid dividends of $ 1.5billion at.... And other factors operating performance terms of the pandemic has caused us to modify our business practices be obtained visiting... Is on track cut so soon after that announcement does not reflect our current performance. Adas ) and autonomous driving technologies and solutions from 2020 's employees are its...
Power Outage Reno Today, Evening News Jeffersonville, Jenny And Louise Craig Update 2020, Matt Lucas And Jamie Barnard, Why Did Pana Hema Taylor Leaves Brokenwood, Articles I