The Texas Instruments headquarters in Dallas, Texas, on Jan. 21, 2024.
Texas Instruments shares plunged 13% after the automotive and industrial semiconductor supplier warned of ongoing tariff aftershocks.
The company said it expects third-quarter earnings between $1.36 and $1.60 per share, a midpoint of $1.48 per share. That fell short of an LSEG estimate of $1.50.
Texas Instruments anticipates revenue between $4.45 billion and $4.48 billion. The midpoint of $4.63 billion was slightly ahead of the $4.59 billion expected by analysts.
In an earnings call with analysts, CEO Haviv Ilan said the company is experiencing a "shallow" recovery in the automotive sector and said customers may have lingering worries over tariffs and geopolitical uncertainty.