NXP Semiconductors N.V. ( NXPI ) shares are trading lower Tuesday after the company reported first-quarter earnings after the market closed Monday.

What To Know: The company reported adjusted earnings per share of $2.64, beating analysts’ estimate of $2.58. In addition, NXP reported sales of $2.83 billion, in line with analysts’ estimate, but down 9% year-over-year.

NXP said it repurchased $303 million shares throughout the first quarter and paid $258 million in dividends. The company also announced that CEO Kurt Stievers will retire at the end of the year. Rafael Sotomayor will replace Stievers as CEO.

Outlook: The company sees second-quarter adjusted earnings per share from $2.46 to $2.86, versus analysts’ estimate of $2.65. NXP expects sales from $2.80 billion to $3 billion, versus analysts’ estimate of $2.87 billion.

“NXP’s first-quarter results and guidance for the second quarter underpin a cautious optimism that NXP continues to effectively navigate through a challenging set of market conditions. We are operating in a very uncertain environment influenced by tariffs with volatile direct and indirect effects,” said Sievers.

“Considering these external factors, we are redoubling our efforts to manage what is in our direct control, enabling NXP to drive solid profitability and earnings,”

See Also: Gen AI Demand Ignites Corning Q1 Optical Communications Sales, Sees Continued Growth In Q2 Despite Tariff Woes

NXPI Price Action: At the time of publication, NXP shares are trading 7.62% lower at $181.30, according to data from Benzinga Pro.

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