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Applied Materials Announces 4Q, Fiscal Year 2023 Results

Annual revenue was $26.52 billion, up 3% year over year.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Applied Materials, Inc. reported results for its fourth quarter and fiscal year ended Oct. 29, 2023.

Applied generated revenue of $6.72 billion. On a GAAP basis, the company reported gross margin of 47.1%, operating income of $1.97 billion or 29.3% of net sales, and record earnings per share (EPS) of $2.38.

On a non-GAAP adjusted basis, the company reported gross margin of 47.3%, operating income of $1.98 billion or 29.5% of net sales, and record EPS of $2.12.
The company generated $1.56 billion in cash from operations and distributed $968 million to shareholders including $700 million in share repurchases and $268 million in dividends.

In fiscal 2023, Applied generated record revenue of $26.52 billion. On a GAAP basis, the company recorded gross margin of 46.7%, operating income of $7.65 billion or 28.9% of net sales, and record EPS of $8.11.

On a non-GAAP adjusted basis, the company reported gross margin of 46.8%, operating income of $7.72 billion or 29.1% of net sales, and record EPS of $8.05.

The company generated a record $8.70 billion in cash from operations and distributed $3.16 billion to shareholders including $2.19 billion in share repurchases and $975 million in dividends.

“Applied Materials delivered record revenue, earnings and cash flow in fiscal 2023 and is outgrowing the wafer fabrication equipment market for the fifth year in a row,” said Gary Dickerson, president and CEO. “Applied’s broad product portfolio, strong customer relationships and leadership at major technology inflections put us in a great position to profitably grow the company as powerful trends fuel the semiconductor industry’s expansion in the years ahead.”

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