---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-120128"
form_type: "8-K"
ticker: "ON"
cik: "0001097864"
company_name: "ON SEMICONDUCTOR CORP"
filed_at: "2024-04-29T23:59:59+00:00"
generated_at: "2026-06-03T05:23:04.978095+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-120128
- form_type: 8-K
- ticker: ON
- cik: 0001097864
- company_name: ON SEMICONDUCTOR CORP
- filed_at: 2024-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1097864/000119312524120128/0001193125-24-120128-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1097864/000119312524120128/d806921d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-120128
- JSON: https://secwatch.observer/filing/0001193125-24-120128.json
- Plain text: https://secwatch.observer/filing/0001193125-24-120128.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1097864/000119312524120128/0001193125-24-120128-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.