2024

Billion

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<p class="has-drop-cap">onsemi (NASDAQ: ON), a leading semiconductor solutions provider, announced its <a href="https://investor.onsemi.com/news-releases/news-release-details/onsemi-first-quarter-2024-results-exceed-expectations" target="_blank" aria-label="first-quarter results (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">first-quarter results</a> for 2024, showcasing significant achievements and financial growth. <br><br>The company reported a revenue of $1,862.7 million, with both GAAP and non-GAAP gross margins standing at 45.8% and 45.9%, respectively. Furthermore, the operating margins were impressive, with GAAP and non-GAAP figures at 28.2% and 29.0%, respectively. <br><br>The diluted earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a>) were also notable, with GAAP and non-GAAP EPS at $1.04 and $1.08, respectively. This performance underscores onsemi’s successful strategic adjustments and focus on long-term growth amidst challenging market conditions.</p> 
<p>Hassane El-Khoury, the president and CEO of onsemi, highlighted the company’s ability to maintain its gross margin through structural business changes over the past three years. He emphasized the importance of power efficiency in meeting global energy demands and expressed confidence in onsemi’s continued market share growth through its leading power and sensing technologies.</p> 
<h3 id="on-beats-eps-and-revenue-expectations-with-1-08-eps-and-1-86-billion-in-revenue">ON Beats EPS and Revenue Expectations with $1.08 EPS and $1.86 Billion in Revenue</h3> 
<p>onsemi’s first-quarter results have not only shown resilience but have also exceeded market expectations. Analysts projected an EPS of $1.04 and a revenue of $1.85 billion for the quarter, which onsemi met and surpassed in terms of revenue, reporting $1,862.7 million and an EPS of $1.08. <br><br>This outperformance is indicative of the company’s robust operational execution and strategic investments in growth areas. The increase in free cash flow, approximately threefold year-over-year, and the return of ~100% of free cash flow to shareholders through stock repurchases within the last twelve months further demonstrate onsemi’s commitment to delivering shareholder value.</p> 
<p>The company’s revenue breakdown by business segment shows a year-over-year increase in the Power Solutions Group (PSG) by 2%, despite a sequential decline. <br><br>However, the Automotive, Industrial, and Multi-Market Group (AMG) and Intelligent Sensing Group (ISG) experienced declines both sequentially and year-over-year, reflecting the ongoing adjustments within the semiconductor industry and specific challenges faced by these segments.</p> 
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<h3 id="on-expects-revenue-in-q2-to-be-between-1-68-billion-to-1-78-billion">ON Expects Revenue in Q2 to Be Between $1.68 Billion to $1.78 Billion</h3> 
<p>Looking ahead, onsemi provided guidance for the second quarter of 2024, projecting revenue between $1,680 million and $1,780 million. The anticipated gross margin ranges from 44.1% to 46.1% on a GAAP basis and 44.2% to 46.2% on a non-GAAP basis. <br><br>Operating expenses are expected to be between $327 million and $342 million on a GAAP basis, with adjustments for special items leading to a non-GAAP operating expense outlook of $313 million to $328 million. The company also forecasts diluted EPS to be in the range of $0.82 to $0.94 on a GAAP basis and $0.86 to $0.98 on a non-GAAP basis.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/on-reports-q1-beat-1-08-eps-and-1-86-billion-in-revenue/">ON Reports Q1 Beat: $1.08 EPS and $1.86 Billion in Revenue</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

ON Reports Q1 Beat: $1.08 EPS and $1.86 Billion in Revenue

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