The Texas Devices headquarters in Dallas, Texas, US, on Sunday, Jan. 21, 2024.
N. Johnson | Bloomberg | Getty Photographs
Texas Devices shares plunged 12% after the automotive and industrial semiconductor provider warned of ongoing tariff aftershocks.
The corporate stated it expects third-quarter earnings between $1.36 and $1.60 per share, a midpoint of $1.48 per share. That fell wanting an LSEG estimate of $1.50.
Texas Devices anticipates revenues between $4.45 billion and $4.48 billion. The midpoint of $4.63 billion was barely forward of the $4.59 billion anticipated by analysts.
In an earnings name with analysts, CEO Haviv Ilan stated the corporate is experiencing a “shallow” restoration within the automotive sector and stated clients could have lingering worries over tariffs and geopolitical uncertainty.
Regardless of the post-earnings stoop, Texas Devices posted a 16% year-over-year leap in income. The corporate reported earnings of $1.41 per share on $4.45 billion in income, surpassing the earnings of $1.35 per share on $4.36 billion in income anticipated by LSEG analysts.
Ilan stated that a few of the second-quarter power could have come from a pull ahead in demand to accumulate stock forward of tariffs.
Web revenue for the corporate rose 15% to $1.3 billion, or $1.41 per share, from $1.13 billion, or $1.22 per share, a 12 months in the past.
WATCH: Texas Devices shares fall greater than 7% regardless of quarterly beat
CNBC’s Kif Leswing contributed to this story.
