secwatch.observer — SEC 8-K summary
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Issuer:     ON SEMICONDUCTOR CORP (ON)
CIK:        0001097864
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001193125-24-120128
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1097864/000119312524120128/0001193125-24-120128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1097864/000119312524120128/d806921d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-120128

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer