Texas Instruments Incorporated (TXN) Q4 2022 Earnings Call Transcript

Texas Instruments Incorporated (NASDAQ:TXN) Q4 2022 Earnings Conference Call January 24, 2023 4:30 PM ET

Company Participants

Dave Pahl – Head-Investor Relations

Rafael Lizardi – Chief Financial Officer

Conference Call Participants

Chris Caso – Credit Suisse

Chris Danely – Citi

Toshiya Hari – Goldman Sachs

Harlan Sur – JPMorgan

Timothy Arcuri – UBS

Ambrish Srivastava – BMO Capital Markets

Joshua Buchalter – Cowen

Dave Pahl

Welcome to the Texas Instruments' Fourth Quarter 2022 Earnings Release Conference Call. I'm Dave Pahl, Head of Investor Relations, and I'm joined by our Chief Financial Officer, Rafael Lizardi. For any of you who missed the release, you can find it on our website at ti.com/ir. This call is being broadcast live over the web and can be accessed through our website. In addition, today's call is being recorded and will be available via replay on our website.

This call will include forward-looking statements that involve risks and uncertainties that could cause TI's results to differ materially from management's current expectations. We encourage you to review the "Notice regarding forward-looking statements" contained in the earnings release published today, as well as TI's most recent SEC filings, for a more complete description.

First, you likely saw last week we announced that Haviv Ilan will become President and CEO on April 1st and that Rich Templeton will continue as our Chairman. I'm sure you'll want to join me in congratulating both of them. Secondly, let me provide some information that's important to your calendars. Next week on Thursday, February 2nd, at 10:00 a.m. Central time, we will have our capital management call. Similar to what we've done in the past, Rafael and I will summarize our progress and provide some insights into our business and our approach to capital allocation. This will include an update of our 300 millimeter capacity expansion plans to support the increasing confidence that we have in our long-term growth.

Moving on, today, we'll provide the following updates. First, I'll start with a quick overview of the quarter. Next, I'll provide insight into fourth quarter revenue results, with some details of what we are seeing with respect to our customers and markets. I will then provide an annual summary of our revenue breakout by end market. And lastly, Rafael will cover the financial results and our guidance for first quarter of 2023. Starting with a quick overview.