ON Semi Q1 results exceed expectations; revenue $1.86B, GAAP EPS $1.04, free cash flow up 3x YoY

ON SEMICONDUCTOR CORP

2024-Q1 EPS reported $1.04 revenue$1,862,700,000

Revenue $1,862.7M, down 5% YoY; GAAP diluted EPS $1.04, non-GAAP $1.08.
GAAP gross margin 45.8%, operating margin 28.2%; non-GAAP gross margin 45.9%, operating margin 29.0%.
Free cash flow improved ~3x YoY; returned ~100% of FCF to shareholders via buybacks over last 12 months.
Segment: PSG $874.2M (+2% YoY), AMG $697.0M (-6% YoY), ISG $291.5M (-18% YoY).
Q2 2024 outlook: revenue $1,680-1,780M, GAAP EPS $0.82-0.94, non-GAAP EPS $0.86-0.98.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ON SEMICONDUCTOR CORP reported first quarter ended March 29, 2024 results: revenue $1,862.7 million, net income $453.0, EPS $1.04.

Period: first quarter ended March 29, 2024
Revenue: $1,862.7 million
Net income: $453.0
EPS: $1.04
Result: reported results

Exact text from the filing

SCOTTSDALE, Ariz, – Apr 29, 2024 – onsemi (the “Company”) (Nasdaq: ON) today announced results for the first quarter of 2024 with the following highlights: • Revenue of $1,862.7 million • GAAP gross margin and non-GAAP gross margin of 45.8 percent and 45.9 percent, respectively • GAAP operating margin and non-GAAP operating margin of 28.2 percent and 29.0

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Source: SEC EDGAR

accession 0001193125-24-120128

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