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Applied Materials Announces 1Q 2022 Results

Record quarterly revenue of $6.27 billion, up 21% 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 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.

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