NXP resumes Texas operations; provides revenue update

• NXP Semiconductors (NASDAQ:NXPI) resumed initial operations at its manufacturing facilities in Austin, Texas post the severe winter storm and corresponding widespread disruption of gas, electricity and water recently experienced across Texas.
• The storm and subsequent loss of utilities damaged NXP's two wafer manufacturing facilities in Austin and caused a full shutdown that commenced on Feb.15.
• NXP does not believe to have an impact on earlier provided revenue guidance for 1Q21.
• For Q2, the company expects an impact of ~$100M of revenue.
• Shares +0.3% after hours