SAFe was a joke from the beginning, and nobody can honestly say that the company is functioning any better. Sign up here You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) plan. Variations in results can also be caused by the timing of Intel product introductions and related expenses, including marketing programs and Intel's ability to respond quickly to technological developments and to introduce new products or incorporate new features into existing products, as well as decisions to exit product lines or businesses, which have resulted and can result in restructuring and asset impairment charges. Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology, brands, and customer relationships acquired in connection with business combinations. Management is cutting employee pay to control operating expenses. Full-year EPS was $1.94; non-GAAP EPS was $1.84. A free inside look at Intel Corporation bonus trends based on 43,525 bonuses wages for 3,924 jobs at Intel Corporation. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Fourth-quarter revenue was $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. In the fourth quarter of 2022, CCGs 13th Gen Intel, In January 2023, DCAI launched its 4thGen Intel, NEX achieved a second consecutive year of double-digit revenue growth, hitting key product milestones with Intel, AXG delivered record revenue for both the fourth quarter and full year. *Effective January 2023, Intel increased the estimated useful life of certain production machinery and equipment from five years to eight years. // See our complete legal Notices and Disclaimers. These adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends. 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. Starting in the first quarter of 2022, we incrementally exclude from our non-GAAP results share-based compensation and all gains and losses on equity investments. These adjustments facilitate a useful evaluation of our current operating performance and comparisons to past operating results. 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The . Intel Is Gutting Its Dividend. Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. We may not realize the expected benefits of portfolio decisions due to numerous risks, including unfavorable prices and terms; changes in market conditions; changes in applicable laws; limitations due to regulatory or governmental approvals, contractual terms, or other conditions; and potential continued financial obligations associated with such transactions. Intel reported fourth-quarter earnings on Wednesday. $1.2 billion was returned to Intel in February 2022, and the EC has appealed this decision to the Court of Justice. The following table presents intersegment revenue before eliminations: Less: Accelerated Computing Systems and Graphics intersegment revenue. 0000001321 00000 n
Accelerated Computing Systems and Graphics (AXG). The pandemic has also previously resulted in substantial economic uncertainty and volatility and disrupted historical patterns related to demand for our products and services. Intel 3 continues to progress and is on track. Other names and brands may be claimed as the property of others. The impact of the pandemic can also exacerbate other risks discussed in this section. Variations in results can also be caused by the timing of Intel product introductions and related expenses, including marketing programs and Intel's ability to respond quickly to technological developments and to introduce new products or incorporate new features into existing products, as well as decisions to exit product lines or businesses, which have resulted and can result in restructuring and asset impairment charges. Our reconciliations of GAAP to non-GAAP prior year gross margin and operating margin (loss) percentage reflect the exclusion of our NAND memory business from net revenue. Making the world smarter, happier, and richer. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally manages and monitors operating segment performance starting in fiscal year 2022. Intel is also spending big money on its Ohio chip factory: a $20 billion investment that could potentially expand to $100 billion. Fourth-quarter earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. L. 108-458, set out as a note under section 3001 of Title 50, War and National Defense. 0000001072 00000 n
SANTA CLARA, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter and full-year 2022 financial results. Forecasting first-quarter 2023 revenue of $10.5 billion to $11.5 billion; expecting first-quarter EPS of $(0.80) (non-GAAP EPS of $(0.15)). 3. 0000020006 00000 n
When compared to the estimated useful life in place as of the end of 2022, Intel expects total depreciation expense in 2023 to reduce by roughly $4.2 billion, including an approximate $2.6 billion increase to gross profit, a $400 million decrease in R&D expenses and a $1.2 billion decrease in 2023 ending inventory values. Santa Clara, CA, 95054-1549. suspension of bonuses, and a reduction in its 401(k) match. 0000006574 00000 n
The impact of the pandemic can also exacerbate other risks discussed in this section. 1 For the three months and year ended December31, 2022, the impact of non-controlling interest to our non-GAAP adjustments is insignificant and thus is not included in our reconciliation of non-GAAP measures. You must be on Intel's payroll by the cutoff date for each six-month bonus 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. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. Announces five percent increase to quarterly cash dividend. Prospectively, we believe this approach will facilitate comparison of our operating results and provide useful evaluation of our current operating performance. While I'm all for moving chip production back into the U.S., Intel may need to reduce the factory's footprint or capacity to right-size the building based on the lower demand, because Intel's falling gross margins indicate a supply glut. Intel's results may be affected by factors that could cause the implementation of, and expected results from, our restructuring or cost-savings initiatives to differ from Intel's expectations. 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. Intel Corporation pays an average of $7,375 in annual employee bonuses. 0000054337 00000 n
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 Motley Fool recommends the following options: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel, and short January 2025 $45 puts on Intel. Cost basis and return based on previous market day close. Charges related to the amortization of these intangibles are recorded within both cost of sales and MG&A in our US GAAP financial statements. 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. Russia has likewise imposed currency restrictions and regulations and may further take retaliatory trade or other actions, including the nationalization of foreign businesses. The change in depreciable life will not be counted toward the $3 billion in cost savings in 2023 or the $8 billion to $10 billion exiting 2025 communicated at Q3 2022 earnings. $1.2 billion was returned to Intel in February 2022, and the EC has appealed this decision to the Court of Justice. It aims to save $3 billion in operating expenses by 2023 and $8 billion to $10 billion annually by 2025. As described in our explanation of non-GAAP measures above, and consistent with the use of our other non-GAAP adjustments, beginning in 2023 management uses this non-GAAP tax rate in managing internal short- and long-term operating plans and in evaluating our performance. Net additions to property, plant and equipment, GAAP cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook. 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 1 Unstoppable Growth Stock to Buy Hand Over Fist, According to Wall Street. Intel said it planned to spend between $19 billion and $20 billion on capital expenditures in 2021. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. The next Intel Corp. dividend went ex 22 days ago for 36.5c and will be paid tomorrow. Compensation, including quarterly and annual bonuses is good. Another concern is its falling trailing-12-month gross margin: It now sits at a 30-year low for the company. Demand for our products has been and could again be materially harmed in the future, and our ability to accurately predict future demand, trends, or other matters may be impacted. Intel Corporation. Intel Corporation. IFS achieved record revenue for both the fourth quarter and full year, with active design engagements with seven of the 10 largest foundry customers. These actions underpin our cost-reduction targets of $3 billion in 2023, and set the stage to achieve $8 billion to $10 billion by the end of 2025.. However, a company's employees are among its most vital resources. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. There are multiple ways employees are compensated at Intel: Base Salary Quarterly Profit Bonus (QPB) Annual Performance Bonus (APB) Stock Awards The base salary is paid out twice a month. 0000036765 00000 n
Share-based compensation consists of charges related to our employee equity incentive plans. Intel's results can vary significantly from expectations based on capacity utilization; variations in inventory valuation, including variations related to the timing of qualifying products for sale; changes in revenue levels; segment product mix; the timing and execution of the manufacturing ramp and associated costs; excess or obsolete inventory; changes in unit costs; defects or disruptions in the supply of materials or resources, including as a result of ongoing industry shortages of components and substrates; suppliers extending lead times, experiencing capacity constraints, limiting or canceling supply, allocating supply to other customers including competitors, delaying or canceling deliveries or increasing prices, or other supply chain issues; product manufacturing quality/yields; and changes in capital requirements and investment plans. The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com. Product defects or errata (deviations from published specifications) can adversely impact our expenses, revenues, and reputation. How Did It Fall So Far So Fast? Quarterly: 17 Sep 2021: 04 Nov 2021: 01 Dec . Management slashed its quarterly dividend from $0.365 to $0.125 to fund its long-term strategy, which . Bonuses posted anonymously by Intel Corporation employees. Intel's largest business, its client computing. In January 2023, DCAI launched its 4thGen Intel Xeon Scalable processors (formerly code-named Sapphire Rapids) with the support of customers and partners such as Dell Technologies, Google Cloud, Hewlett Packard Enterprise, Lenovo, Microsoft Azure, NVIDIA and many others, and is ramping production to meet a strong backlog of demand. IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. Product defects or errata (deviations from published specifications) can adversely impact our expenses, revenues, and reputation. December 31, 2021: 20.53B September 30, 2021: 19.19B June 30, 2021: 19.63B March 31, 2021: 19.67B December 31, 2020: 19.98B . Intel plans to report its earnings for the fourth quarter of 2021 on January 26, 2022 promptly after close of market; related materials will be available at www.intc.com. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll . Strong Results, Cautious Outlook. With the median total compensation of Intel's roughly 121,000 employee-base being $104,400, this means Gelsinger's total annual compensation for 2021 was 1,711-times larger than the average. INTC Capital Expenditures (TTM) data by YCharts. The dividend will be payable on June 1, 2021, to stockholders of record on May 7, 2021. In the eyes of some investors, the last great reason to own Intel (INTC 1.49%) is gone. We exclude these non-operating gains and losses for purposes of calculating certain non-GAAP measures because it provides better comparability between periods. Glassdoor is your resource for information about the Performance Bonus benefits at Intel Corporation. Copies of these filings may be obtained by visiting our Investor Relations website at, Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. The pandemic has also previously resulted in substantial economic uncertainty and volatility and disrupted historical patterns related to demand for our products and services. . Listen The dividend is paid every three months and the last ex-dividend date was Feb 6, 2023. Dividend Yield. 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. 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. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial outlook prepared in accordance with US GAAP and the reconciliations from this Business Outlook should be carefully evaluated. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB program. 245 0 obj
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Intel continues to make progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. For example, in the first quarter of 2022, the General Court in the European Commission (EC) competition matter annulled the EC's findings against Intel regarding rebates, as well as the fine previously imposed on and paid by Intel. The primary driver of this demand evaporation is an atrocious PC market. On behalf of Intel Corporation ("Intel" or the "Company") I am pleased to provide this offer to you for the position of Chief Executive Officer reporting to the Intel Board of Directors (the "Board"). The company also announced that its board of directors has declared a quarterly dividend of $0.365 per share on the companys common stock, which will be payable on March 1, 2023, to shareholders of record as of February 7, 2023. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. 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. Starting in the first quarter of 2022, we incrementally exclude from our non-GAAP results share-based compensation and all gains and losses on equity investments. RT=Real-Time, EOD=End of Day, PD=Previous Day. Is Intel stock worth owning with that catalyst gone? Cash flows provided by (used for) investing activities: Additions to property, plant and equipment, Additions to held for sale NAND property, plant and equipment, Maturities and sales of short-term investments. IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. In depth view into Intel Revenue (Quarterly) including historical data from 1972, charts and stats. 0000018598 00000 n
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. tral Intelligence or the Director of the Central Intel-ligence Agency in the Director's capacity as the head of the Central Intelligence Agency deemed to be a ref-erence to the Director of the Central Intelligence Agen-cy. Argentina. 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. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. Intel operates in highly competitive industries and its operations have high costs that are either fixed or difficult to reduce in the short term. // Your costs and results may vary. Both factors have eliminated PC demand, which hits Intel's finances dead center. While the second closing of the sale is still pending and subject to closing conditions, we deconsolidated this business in Q1 2022 and management does not view the historical results of the business as a part of our core operations. The previous Intel Corp. dividend was 36.5c and it went ex 4 months ago and it was paid 3 months ago. 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. Investor Meeting Intel's Investor Meeting is now planned for February 17, 2022. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. Restructuring charges are costs associated with a formal restructuring plan and are primarily related to employee severance and benefit arrangements. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023. See Intels Global Human Rights Principles. Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. These non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans. first-quarter 2022 revenue was down 7% from 2021). Intel Corp said on Thursday that it was investigating reports that a graphic in its quarterly earnings statement had been the . Intel presently considers the following to be among the important factors that can cause actual results to differ materially from the company's expectations. In the fourth quarter, the company generated $7.7 billion in cash from operations and paid dividends of $1.5billion. We exclude these impairments for purposes of calculating certain non-GAAP measures because these charges do not reflect our current operating performance. 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. We exclude restructuring and other charges, including any adjustments to charges recorded in prior periods, for purposes of calculating certain non-GAAP measures because these costs do not reflect our core operating performance. In the eyes of some investors, the last great reason to own Intel(INTC 1.60%) is gone. 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%. Intel Corporation. On Intel 20A and Intel 18A, Intels first internal test chips, and those of a major potential foundry customer, have taped out with products undergoing fabrication. 5.81%. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. <]>>
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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. Fourth-quarter revenue was $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. Market Data powered by QuoteMedia. In addition, significant or prolonged turnover may negatively impact our operations and culture, as well as our ability to successfully maintain our processes and procedures, including due to the loss of historical, technical, and other expertise. Forecasting first-quarter 2023 revenue of $10.5 billion to $11.5 billion; expecting first-quarter EPS of $(0.80) (non-GAAP EPS of $(0.15)). For example, in the first quarter of 2022, the General Court in the European Commission (EC) competition matter annulled the EC's findings against Intel regarding rebates, as well as the fine previously imposed on and paid by Intel. 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. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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 . The adjustment for all gains and losses on equity investments includes the ongoing mark-to-market adjustments previously excluded from our non-GAAP results. Detailed information regarding these and other factors that could affect Intel's business and results is included in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports. 0000001639 00000 n
The average base salary at Intel is $134,000 with a sign-on bonus of $23,000 and $20,000 of stock bonus. The role will be based in Santa Clara, California. The pandemic has caused us to modify our business practices. We have sales and marketing, manufacturing, engineering, finance and administration groups. The corresponding earnings presentation and webcast replay will also be available on the site. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. 0000041399 00000 n
Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. This adjustment facilitates a useful evaluation of our current operating performance and comparisons to past operating results. Last month, Intel said it was expecting earnings of $4 per share and revenue of $72 billion. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) program. If you treat them right, you'll get the most out of them. 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. 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. AXG delivered record revenue for both the fourth quarter and full year. Mobileye includes the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions. For the full year, the company generated $15.4 billion in cash from operations and paid dividends of $6.0billion. The live public webcast can be accessed on Intel's Investor Relations website at. It also added a leading cloud, edge and data center solutions provider as a customer to Intel 3. We completed the first closing of the divestiture of our NAND memory business to SK hynix on December 29, 2021 and fully deconsolidated our ongoing interests in the NAND OpCo Business in the first quarter of 2022. // Performance varies by use, configuration and other factors. Forecasting first-quarter 2022 revenue of approximately $18.3 billion; expecting first-quarter EPS of $0.70 (non-GAAP EPS of $0.80). 0000011331 00000 n
Demand for our products has been and could again be materially harmed in the future, and our ability to accurately predict future demand, trends, or other matters may be impacted. Demand for Intel's products is highly variable and can differ from expectations due to factors including changes in business and economic conditions; customer confidence or income levels, and the levels of customer capital spending; the introduction, availability, and market acceptance of Intel's products, products used together with Intel products, and competitors' products; competitive and pricing pressures, including actions taken by competitors; supply constraints and other disruptions affecting customers; changes in customer order patterns or forecasts including order cancellations; changes in customer needs and emerging technology trends; and changes in the level of inventory and computing capacity at customers. 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Evaporation is an atrocious PC market ex 4 months ago, packaging, chiplet standard and.... Systems and Graphics ( AXG ) trade or other actions, including quarterly and annual bonuses is good and... Listen the dividend will be payable on June 1, 2021, to stockholders of record on may 7 2021! Annual bonuses is good exclude these non-operating gains and losses for purposes calculating... Vulnerabilities or mitigations could intel quarterly bonus 2021 our reputation with customers or users and reduce demand for products...