Sensata Technologies Holding (ST) Q4 FY2023 earnings: revenue $992 million, down 2.2% on the year

Sensata Technologies Holding plc (ST) reported revenue of $992 million for Q4 FY2023, the quarter ended 31 December 2023, down 2.2% on the same quarter a year earlier. Net income was -$202 million, and diluted earnings per share $-1.34. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.

Revenue$992 milliondown 2.2%

Net income-$202 million

Diluted EPS$-1.34

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	992	1,001	n/a	n/a
Cost of revenue	702	688	n/a	n/a
Gross profit	290	313	n/a	n/a
Gross margin	29.2%	31.3%	n/a
Research and development	42.6	45.4	n/a	n/a
Selling, general and administrative	87.5	85.7	n/a	n/a
Operating income	-201	116	n/a	n/a
Operating margin	-20.3%	11.6%	n/a
Interest expense	43.3	44.3	n/a	n/a
Pre-tax income	-242	80.7	n/a	n/a
Income tax	-39.7	17.9	n/a	n/a
Effective tax rate	n/a	22.1%	n/a
Net income	-202	62.8	n/a	n/a
Net margin	-20.4%	6.3%	n/a
Diluted EPS	-$1.34	$0.41	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	105	139	n/a	n/a
Capital expenditure	48.4	51.8	n/a	n/a
Free cash flow	56.7	87.2	n/a	n/a
Free cash flow margin	5.7%	8.7%	n/a
Cash from investing	-47.4	-51.8	n/a	n/a
Cash from financing	-447	-54.8	n/a	n/a
Depreciation and amortisation	74.8	73.3	n/a	n/a
Share-based compensation	5.5	6.8	n/a	n/a
Buybacks	28.1	35.2	n/a	n/a
Dividends paid	18.2	18.3	n/a	n/a
Diluted shares, weighted	151m	152m	n/a	n/a
Shares outstanding at period end	150m	151m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	2,996	3,225	n/a	n/a
Debt	3,400	3,772	n/a	n/a
Operating lease liabilities	29.3	n/a	n/a	n/a
Finance lease liabilities	22.9	n/a	n/a	n/a
Other liabilities	1,232	1,391	n/a	n/a
Total liabilities and equity	7,681	8,388	n/a	n/a
Fixed assets	n/a	874	n/a	n/a
Goodwill	3,543	3,864	n/a	n/a
Intangible assets	884	921	n/a	n/a
Cash and equivalents	508	890	n/a	n/a
Receivables	744	767	n/a	n/a
Inventory	713	684	n/a	n/a
Other assets	1,289	388	n/a	n/a
Total assets	7,681	8,388	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,001	992	1,007	1,036	983	908	911	943	932	918	935	991
Cost of revenue	688	702	689	724	701	662	639	657	673	652	648	689
Gross profit	313	290	317	311	281	246	273	286	259	266	286	302
Gross margin	31%	29%	32%	30%	29%	27%	30%	30%	28%	29%	31%	30%
R&D	45.4	42.6	45.3	45.3	42.7	36.0	36.8	32.6	33.0	31.4	31.9	31.9
SG&A	85.7	87.5	88.0	93.3	102	108	86.0	87.8	85.8	96.6	93.4	90.5
Operating income	116	-201	145	130	-199	73.8	122	138	-123	100	142	165
Operating margin	12%	-20%	14%	13%	-20%	8%	13%	15%	-13%	11%	15%	17%
Interest expense	44.3	43.3	38.4	40.9	38.9	37.6	38.0	37.7	37.7	35.7	34.1	32.8
Pre-tax income	80.7	-242	98.6	99.0	-245	35.2	90.6	106	-148	75.3	116	132
Tax rate	22%	n/a	23%	28%	n/a	84%	23%	43%	n/a	16%	25%	23%
Net income	62.8	-202	76.0	71.7	-25.0	5.8	69.9	60.7	-163	63.2	87.1	102
Net margin	6%	-20%	8%	7%	-3%	1%	8%	6%	-17%	7%	9%	10%
Diluted EPS	$0.41	-$1.34	$0.50	$0.47	-$0.17	$0.04	$0.47	$0.41	-$1.12	$0.43	$0.59	$0.70
Operating cash flow	139	105	106	143	131	171	119	141	160	202	122	210
Capital expenditure	51.8	48.4	42.1	45.1	39.6	31.8	32.6	25.4	23.6	49.6	17.9	23.6
Free cash flow	87.2	56.7	64.4	98.4	91.3	139	86.6	116	136	152	105	186
Buybacks	35.2	28.1	10.1	0.0	37.2	21.6	100	20.1	0.0	0.0	25.1	0.0
Dividends paid	18.3	18.2	18.1	18.1	18.1	18.0	17.9	17.6	17.5	17.4	17.5	17.5
Shares outstanding	151m	150m	151m	151m	150m	150m	146m	146m	146m	146m	145m	146m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 29 February 2024, accession 0001477294-24-000020: the filing on EDGAR. All of Sensata Technologies Holding plc's filings: EDGAR company page.

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