STMicroelectronics Lowers Its 2024 Outlook: Now Expects Net Revenues Of $14B-$15B (Prior $15.9B-$16.9B) Vs. Consensus Of $16.12B; Sees Gross Margin In The Low 40's range

Benzinga04-25

We will now drive the Company based on a revised plan for FY24 revenues in the range of $14 billion to $15 billion. Within this plan, we expect a gross margin in the low 40's."
"We plan to maintain our Net Capex1 plan for FY24 at about $2.5 billion focusing on our strategic manufacturing initiatives."

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